FCA and MiFID II regulated businesses often consider their technology purchases carefully. This is no different when it comes to FCA compliant call recording. The key features for a call recorder are well understood by buyers; encryption, secure access to replay and an audit trail of playback activities.
The importance of long term access
What is not so often thought about is the long-term access to call recordings. It is easy to look at call recording offerings provided as part of a cloud PBX and think “as long as the recordings are encrypted we’re compliant”. Which is possibly true today for as long as you use the chosen supplier.
Now consider the trends in the IT market place, supplier offerings change quickly, suppliers come and go. Where does that leave your FCA compliant call recordings? Can you honestly say that you are confident that your chosen VoIP PBX supplier will still be your choice in five or ten years’ time?
If your business is FCA or MiFID II regulated you need to have a longevity plan for your call recordings. You need to test your strategies, ask some questions:
- How secure are my call recordings today?
- Do I have a copy that I can access if my supplier goes away or changes?
- If I move supplier can I move my call recordings?
- Will I be able to replay my recordings in 5, 10 or even 20 years?
When it comes to choosing a call recording solution make sure it meets your long-term business requirements. Select a call recording supplier that has a long track record and who’s strategy includes upgrading their call recording software to keep pace with Microsoft and others.
You can read more about FCA compliance online now.
FCA compliance for the future
Leading suppliers of compliant call recording solutions like Smartcall, provide long term solutions that operate with your chosen PBX platform, give you control over your call recordings and provide you with futureproof call recordings through free software upgrades.
Remember FCA compliance isn’t for today it’s for the life of your business.