24 Seven Launches MIFID II Compliant Mobile Solution

24 Seven has launched a bespoke mobile call recording solution for SMEs, designed to achieve maximum compliance with MIFID II rules.

MIFID II regulations, to be enforced by the FCA, have been in development since 2010, one implication of which means that firms who operate in financial services must have mobile call recording facilities. The regulations have proved to be a major headache for businesses operating in this space, with SMEs hit hardest due to their often comparatively limited resources.

With that in mind, 24 Seven have developed their existing roaming technology to meet the regulations with features ideally suited to benefit the SME business community, including a unique network portal and unlimited storage in multiple secure locations. Calls are recorded in real time, and then stored in an easily searchable format via the portal.

24 Seven Founder David Samuel said: “MIFID II has been a long time in the making, but many firms, particularly SMEs still aren’t prepared. Many experts still don’t know the true impact, but as the regulations come into force on January 3rd, it’s likely to be a major headache to start the new year with. As ever, SMEs have been let down in their time of need, with many of the solutions on offer running into hundreds of thousands of pounds.”

“As a business with a focus on SMEs, combined with our heritage in UK national roaming, we are perfectly placed to address this need. Prices for this solution start at just £25 a month as a bolt-on to any Jump SIM tariff, which is a small price to pay for compliance and peace of mind.”

The solution is particularly suited to SMEs, who often have a higher utilisation of mobile solutions as opposed to ‘fixed’ landlines, and have a higher uptake of ‘bring your own device’ (BYOD).

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David Dungay

Editor - Comms Business Magazine