Choosing and implementing the right call archiving solution is a crucial step towards complying with MiFID II call archiving requirements in your business. But with so many vendors in the market, choosing the right one that can help you stay compliant can be a daunting task. Below are some of the important factors that you should consider in order to choose a reliable call archiving solution.
First of all, you need to consider ease of installation as well as scalability when choosing a call archiver. The mobile recording solution that you select should be easy and quick to install, because lengthy software and hardware installation may disrupt your operations as well as compliance measures. A good call archiver should be able to scale with the ever-changing regulations and should easily integrate with best in class solutions that can help your company stay a step ahead of regulatory compliance and steer clear of the issues that are triggered by vendor lock-in.
Another important factor that you should consider when choosing a call archiving solution is high quality data capture. Article 72 states that financial organizations must ensure the quality, accuracy as well as completeness of records of all mobile call recordings as well as electronic communications in order to ensure faster and more efficient investigation and audit process.
So when choosing a call archiving solution to use in your business, it is important to make sure that it can capture audio data in good quality. With this capability, you will be in a position to use more accurate call recordings for speech recognition. You will also be able to proactively monitor the conversations of your employees and detect any suspicious activities or behaviors as they occur in real-time.