Benefits Of Ensuring MiFID Voice Recording Compliance In Your Business



MiFID voice recording is something that some business people do not take seriously even after strict measures have been put in place to make sure that they do, especially those in the financial service sector. The recordkeeping requirements of the Markets in Financial Instruments Directive (MiFID II) requires financial firms, trading venues as well as their associates to record mobile text messages and electronic communications relating to transactions concluded when dealing with own account as well as the provision of client order services that relate to the transmission, reception and execution of client order for a period of five years.

There are various reasons why you should ensure MiFID voice recording compliance in your business. First of all, the recorded voice calls can help with dispute resolution. If you have been doing business for a long time, you know that disputes can be very expensive and time consuming. If you would like to run your business smoothly, you would do everything you can to avoid disputes. But if there are disputes and you have recorded voice calls, you will have proof of who said what at your fingertips. This will remove any confusion over what was discussed on the call, and you will be able to resolve the issues quickly.

Another benefit that you can get from MiFID voice recording is streamlining customer service in your business. By automatically recording conversations between your employees and your customers, your telephone discussions as well as conference calls will run more efficiently. Your employees will be left to focus on the conversation as well as the needs of the customers instead of being pre-occupied with taking notes. If you used to get a lot of complaints about your customer care representatives, the complaints will reduce when you start using the MiFID voice recording service.

For more information on the benefits of ensuring MiFID voice recording compliance in your business, visit our website at https://www.telemessage.com/

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