With new FSA Rules due to take effect at the end of 2011, Anvil Mobile has announced its simple and secure recording solution for mobile phone conversations, Simply compliant.
The policy directive from the Financial Services Authority (FSA) requires the recording and storage of all 'relevant communications made with, sent from or received on mobile phones and other handheld electronic communication device'. This includes the receipt of client orders and the negotiating, agreeing and arranging of transactions across the equity, bond, derivatives and financial commodity (mortgage, insurance, stocks and shares) markets and their brokers.
Unlike other more complicated systems, Anvil Mobile's Simply compliant mobile call recording solution does not require any software on the mobile phone and works with most unlocked 3G devices. The user simply replaces the existing SIM with a new Anvil Universal SIM (USIM) card, with a choice of a geographic phone number or traditional 07xxx mobile number. All calls are recorded from within the network so that users cannot switch off recording or interfere with the process. Recordings are time and date stamped accurately using the network timestamp and stored securely; while encryption and anti-tampering mechanisms ensure that messages retrieved by authorised personnel as evidence in dispute resolution are identical to the original and cannot be edited or deleted.
Messages are securely delivered using Transport Layer Security (TLS) and stored in a secure hosted data centre or customers can install an on-site, stand-alone voice recording appliance from Anvil's technology partner Cryoserver. The powerful Cryoserver range caters for a small number of users up to many thousands.
The Anvil service is available at between £19.95 and £24.95 per month per user (exc. VAT) depending on the number of user licences purchased.
"The decision by the FSA to lift the current exemption that applies to mobile phones and other handheld electronic communication devices from its taping rules reflects greater mobility and the growing use of wireless communications in the financial services sector," said Ian Philip, CEO at Anvil Mobile. "But with the deadline looming, companies are under pressure to implement a solution. We believe that Simply Compliant Mobile offers a cost-effective and flexible solution that can be in place in just days."
The new FSA policy amendments only apply to corporate mobile devices, but the second part of the FSA decision will see the introduction of a rule requiring firms to take reasonable steps to ensure that sensitive communications do not take place on private communication equipment that firms cannot record mainly for privacy reasons.