iHub, the hosted Business communications provider, has launched its Financial Services Authority (FSA) compliant call recording solution: iHub Call Recording. The FSA have published guidelines that state by March 2009 all firms involved in the financial services must, by law, have implemented a robust platform that records telephone conversations. iHub’s Call Recording is ideally positioned for SMBs, giving resellers the opportunity to offer a cost effective, resilient, tamper-proof solution. iHub Call Recording can be integrated into existing telephone solutions as a stand alone service or be taken as an add-on to iHub’s hosted IP communication services.
The FSA produce guidelines for regulated UK companies, and from March 2009, all financial services companies will have to comply with legislation that stipulates companies must keep detailed tamper-proof records of all their telephone conversations relating to client orders and transactions in the equities, derivatives and bond markets and have the facility to retain the files for six months. The iHub call recording solution can be tailored to meet the individual needs of SMBs and can be programmed to offer total, selective or transaction based recording. As the functions are hosted, SMBs can take advantage of a solution worthy of an enterprise; with carrier-grade resilience and advanced functionality.
Mike Webb, CEO of iHub, said: “By implementing an iHub Call Recording function, firms are not only complying with the FSA, they are protecting themselves against financial advice given over the phone and potential market abuse cases. Services such as these have traditionally been led by large financial institutions; however iHub’s hosted solution enables companies of any size to be immediately compliant, without the need for excessive capital expenditure.”
The iHub Call Recording platform has comprehensive search capabilities to quickly locate individual calls. The replay features include a spectrum of multimedia functions and verification of call authenticity and identification if the recording has been tampered with.
Mike Webb, CEO, iHub, continues: “With the FSA deadline of March 2009 looming, companies operating in the financial services industry are currently looking at what call recording solutions are available on the market. In the current climate many of these companies will not want to go to the expense of an in-house call recording function. iHub’s hosted call recording platform will be the cost effective solution of choice to ensure compliance with FSA legislation.