IPC Systems, a provider of specialized communications and compliance-based solutions for the financial trading community, and T-Ware Connect, the North American arm of global call compliance systems provider TeleWare Group, announced the immediate availability of an in-network based recording service for mobile devices.
The IPC service offering, called MVR, is aimed at providing a platform for financial organizations to meet the call recording elements for mobile communications imposed by new global regulatory requirements driven by MiFID in the United Kingdom and the Dodd-Frank Act in the United States.
The SIM-based solution both records and stores mobile voice and SMS traffic. MVR calls and texts are routed through and recorded in a cloud-based network leveraging technology provided by TeleWare Group.
"Mobile voice recording regulations impose transparency requirements that most financial institutions do not have the experience or resources to deal with in-house," Neil Gray, vice president of product marketing for trading communications solutions at IPC, said, in a statement. "IPC's four decades of industry expertise leaves us uniquely situated to help solve many of their challenges. Our alliance with T-Ware Connect provides a best-of-breed solution that allows for firms to trade normally from their mobile devices, with compliance oversight and a rules engine that will enable them to deploy a globally consistent solution across the entire regulatory landscape."
"MVR combines IPC's focus on financial technology and compliance solutions with our leading SIM based recording solution," said Mark Miller, U.S. general manager of T-Ware Connect, in a statement. "This collaboration will allow firms that have near-term regulatory obligations or those that may have already missed them an opportunity to be in compliance quickly and securely with the comprehensive service and support they need for key financial market like the U.K. and the U.S. The TeleWare Group network spans multiple countries and is constantly evolving and delivers a solution fit for today's global compliance trading environment."