Hosted Call Recording Solutions for Mobile Market:

In the fixed line market, call recording is a well-established solution set. Since the early 1990s, call recording solution sets for desk phones have been commonly deployed for regulatory and quality assurance purposes. The primary drive for recording functions was the financial services market that required recordings for evidentiary purposes, even before the taping statues became commonplace.

The increased mobility of the workforce, in combination with the ubiquity and consumer popularity of cell phones, has led to a dramatic adoption of mobile devices by the financial services workforce. It is estimated that of the over 10 million financial services employees in Western Europe alone, there are over 12 million mobile devices. 9 out of 10 financial services firms hand cell phones out to their employees, and as noted by the FSA, a substantial amount of business occurs on these phones. 92% of financial services firms consider the employee’s mobile device an asset and they compensate the employee service to the mobile device or directly provide service.

The primary reason that a trader’s landline phones are recorded is not only to provide evidence for investigation in the future, but also to proactively detect fraud and ensure quality guidelines. The same can and will be applied to cell phones as more and more fraudulent activity is uncovered in connection with the use of cell phones. Due to regulatory forces, enterprises will have to record the mobile phone conversations of their employees. This statutory requirement is going to place unprecedented pressure on the information technology functions of financial services institutions, in a time when capital is expensive and difficult to reach.

The key drivers for a financial services enterprise are:

• Security and Reliability: Any call recording system should provide a failsafe mechanism of recording conversations with a clear chain of custody for the recorded evidence.
• Device and Service Independence: The service should be tied to the mobile employee – not the device. As devices are upgraded, service options changed, and roaming occurs, recordings must be guaranteed.
• Transparency: The employee should not even be aware that they are being recorded. The call recording system must be completely transparent, reducing the chance that an employee will circumvent surveillance.

Mobility solutions are best served as hosted solutions that present ubiquitous functionality. Anytime, anywhere, any device access and functionality is a must. Both the employee and the enterprise view mobility functions to be an extension of their service provider and demand the same carrier-grade level and access as basic voice service. If this logic is continued, call recording, therefore, should be a service provider enabled function: carrier-grade recording, anytime, anywhere, and on any device.

In light of the most recent downturn in the financial markets, more and more focus is put on their activities and interactions. Call recording is a key element in tracking this activity and could be a good safeguard for many financial institutions against fraudulent activity. Finding call recording systems to fit all of these requirements is not exactly an easy feet. With advancements in technology, applications providers are finding more cost effective and creative ways to provide the features that end user customers need.