Apart from the pressure that financial service firms have from regulatory authorities to put in place effective policies and systems for mitigating cybersecurity risks as well as potential breaches, they have other core compliance obligations that they are supposed to meet. These firms are supposed to archive text messages and capture voice calls that are business related.
Even though enterprise text messaging is still considered to be the fastest growing trend in enterprise mobile communications, a number of employees are still making use of voice calls to communicate with their customers and colleagues. Due to this, financials service firms that have allowed their employees to use tablets and smartphones to make business-related phone calls need to have very clear policies and systems in place to make sure that they are compliant with various voice call recording regulations when they capture voice calls.
There are various industry best practices for voice call recording as well as WhatsApp call recording that the financial companies must adhere to. First of all, the caller must be notified that their call is about to be recorded. Regardless of the device that you are using, it is very important to notify the caller that their call is going to be recorded for compliance reasons. If the caller continues to call, it shows that they are okay with their call being recorded.
There are various ways that you can notify the caller that their call will be recorded. One is playing a pre-recorded prompt that broadcasts the terms and conditions about the voice call recording. The caller is supposed to press a designated key on their mobile device to continue. Regardless of the recording method that you decide to use, you need to be very transparent about how and why the call is being recorded.