|[March 31, 2014]
Truphone Announces New Drive to Help Financial Institutions Comply with Mobile Recording Regulations
NEW YORK --(Business Wire)--
Truphone (News - Alert), the global mobile network and leading provider of mobile
recording solutions, today announced it will be offering unlimited voice
and SMS recording as part of a global drive to help financial
institutions comply with mobile voice recording regulations.
The move follows independent revelations last week that the majority of
regulated firms are yet to become compliant, citing expense of
implementing recording solutions as the biggest obstacle. Truphone's new
mobile recording offering is designed to help ease the cost of
compliance for financial organizations, as they look to remain compliant
in today's highly regulated market.
Rik Turner, Senior Analyst at Ovum (News - Alert), said: "Our research
has found that only 33% of UK banks are compliant with regulations,
citing cost as the main reason for not implementing mobile recording
solutions." He continued, "They often forget that a single fine from the
regulator far outweighs the cost of a mobile recording solution. These
solutions not only help banks stay compliant, but bring in more business
by enabling traders to continue doing business on the go. Truphone
understands this, and is offering banks a cost-effective mobile
Unlike common market approaches to recording, such as banning mobile
usage or implementing app-based solutions that produce significant call
delays with poor call quality, Truphone Mobile Recording is a
network-based solution that facilitates global compliance. Built on
patented technology held within the Truphone global mobile network,
Truphone Mobile Recording enables international collaboration,
productivity and enterprise mobilization.
, said: "Truphone has built a network, an
infrastructure and a solution that works on a global scale. It helps
customers rapidly comply with emerging regulations while enabling
greater mobilization, which is why five of the world's largest
investment banks use this solution." He continued, "In response to
market demand, we are pleased to make Truphone Mobile Recording
accessible to more customers, in order to ease the burden of regulatory
requirements and facilitate greater compliance."
With Truphone Mobile Recording, companies in the financial sector can
store and encrypt all calls and texts, allowing banks to quickly and
easily reconstruct a trade if required to by the regulator. The new
pricing plan from Truphone for its Truphone Mobile Recording solution
will be priced at $70 per user, per month with unlimited voice, text and
up to 1GB of data. The limited-time offering will run from April 1 to
June 30, 2014.
Truphone will be available to discuss the benefits of the promotion
onsite at the SIFMA Compliance & Legal Society Annual Seminar 2014 in
Orlando, March 30 - April 2, 2014.
To find out more about the Truphone Mobile Recording promotion, visit http://www.truphone.com/us/tmr-promotion
Truphone, Inc. is a member of the Truphone group of companies.
Truphone is the only mobile operator in the world that expands the reach
of businesses beyond the borders of their home country. Truphone
achieves this by providing multiple international numbers on a single
SIM, enabling businesses to make international calls that are treated as
local calls and providing contacts a direct way to get in touch on a
local number. Truphone Mobile Recording helps organizations record,
encrypt and store all their calls using their existing IT
infrastructures. That means they can meet corporate governance
guidelines and comply with regulations like the FCA in the UK and
Dodd-Frank in the US - all without making big changes to their IT setup.
And because it's based on Truphone's global mobile network, Truphone
Mobile Recording customers can enjoy clearer calls, faster downloads and
lower rates in over 200 countries around the world. With US headquarters
in Durham, NC, Truphone has offices across 4 continents and continues to
expand globally. Our clients include FTSE 100 and Fortune 500 companies
across multiple sectors.
For further information about Truphone Mobile Recording, visit http://www.truphone.com/US/Business/Mobile-Recording/Overview/
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