Why You Need To Record Mobile Calls

Here’s why you need to record your mobile calls.

Due to the disparate nature of business and protocols it’s becoming a reality to record mobile calls for a range of important purposes.

In the United States there is the Dodd Frank Act which stipulates that mobile calls in the financial swaps market must be recorded and stored for 12 months. Across Europe and in the UK there are similar regulations.

The UK’s Financial Services Authority (FSA), for example, extended taping rules so firms record and keep copies of “all relevant” conversations made on mobile phones for a period of 6 months.

FSA mobile call recording allows a business to ensure compliance standards even when mobile: It’s not only about adhering to compliance standards, laws and regulations but more importantly, for curbing market abuse.

In Australia there are many competing regulations for call recording set out by financial regulatory bodies. For example, it is required that bidders in the financial industry are required to record their advice. This is as per the Corporations Act 2001, section 911A.

Australia also has the Australian Privacy Principals, of which Principal 12 states that when requested, customers’ recordings must be made available. So when employees are on the go, conducting business, it’s important to have these conversations captured so they can be passed on if needed.

Address the needs of mobile workers taking mobile conference calls

Since traders, bankers and many other workers conduct business and trade despite location, they must ensure that all transaction related calls are recorded reliably. As we’ve discussed before, other reasons to record these mobile conference calls is due to the dwindling attention spans of participants during conference calls. Having conference calls on file is a viable solution for future reference and note taking.

Apart from maintaining compliance standards with the prompting technology available which informs recipients that the call is being recorded, recording mobile calls means you can free dealing-room staff from having to call back customers that mobile workers spoke to.

Recording the voice channel also lends the ability to process audio content to gain a wealth of data including script adherence, IP leakage, customer sentiment, emotion and other such important information.

There really is a wealth of reasons that businesses should record their mobile calls, even if you think call recording might not be for you, there is legal and regulatory pressure that you should consider, as well as best practice reasons.

Explore your recording options with Record Retrieve today.

This post is intended for educational purposes and should not be used in substitution for legal advice. 

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