Benefits Of Using Cloud Based Services To Ensure MiFID Phone Recording Compliance



More and more organizations are choosing are required to or are choosing to record employee phone calls as a way of ensuring MiFID phone recording compliance. The necessity to record phone calls depends on the kind of financial service that your company offers.

A simple and cost efficient solution for ensuring MiFID phone recording compliance is using cloud services. While migrating to the cloud might seem like a challenging shift, vendors that offer cloud mobile solutions present a more secure, scalable and affordable means to satisfy MiFID mobile phone recording requirements.

So how exactly can cloud services help your organization comply with mobile phone recording requirements of MiFID II? One of the benefits of using cloud services is operational cost savings. Cloud-based services allow you to rely on physical equipment at data centers in remote locations, hence reducing the amount of hardware you need to install, maintain, store and service onsite.

Another benefit of using cloud-based services to ensure MiFID phone recording compliance is faster data recovery. Unlike on premise solutions, cloud technologies provide the flexibility to recover records faster and more efficiently.  Because of the distributed nature of storage and processing of the cloud, it allows for a more reliable business continuity in the event of emergency situations.

Last but not least, you will benefit from more powerful analytics if you use cloud services to ensure MiFID phone recording compliance. For most investment firms, the sheer volume of records that need to be counted under MiFID II is enormous. With cloud-based archiving, it is a lot easier for firms to monitor, search and discover specific content through new analytics technologies that are embedded within their system. Most MiFID mobile phone recording archiving solutions that are cloud-based have the power to track and search specific keywords within recorded conversations and are also able to  identify conversation gaps as well as what is not captured.

For more information on the benefits of using cloud based services to ensure MiFID phone recording compliance, visit our website at https://www.telemessage.com/

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