During a recent business trip, I had a very interesting meeting with an IT manager at a well-known medium-sized financial institution. This particular company has already worked with AudioCodes for a number of years, and I always value getting feedback directly from the field. As for this meeting, I use the word interesting because this IT manager asked me something that I’ve heard a lot recently when out and about visiting customers. Why should her company, she wondered, invest in a full recording solution when platforms like Microsoft Teams already allow calls to be recorded?
The answer to that is simple. Businesses similar to hers now expect – and demand – much more from their recording solutions than just basic recording capabilities. After all, today’s strict regulatory climate places a heavy responsibility on companies operating in the finance vertical, as well as many others, to comply with legal directives to protect markets and ensure the safety of investors, customers and users. And indeed, we see these companies recruiting compliance and regulation officers like never before.
An excellent example of such a framework is the European Union’s Markets in Financial Instruments Directive, or MiFID, and its replacement, MiFID II. These aim to strengthen the integrity and reliability of financial instruments by increasing the transparency around customer transactions. Firms selling financial instruments must capture all communications that take place with a customer prior to the transaction occurring, including via email, social media and telephone calls.
Another great illustration of this reality is the General Data Protection Regulation (GDPR). GDPR covers data protection and privacy issues and applies to all companies that do business in the European Union.
The upshot of all these regulations is that every customer interaction that leads – or may lead – to a business transaction must be recorded and logged. It’s therefore crucial that companies who interact with end customers put the appropriate technology in place to ensure full compliance with these rules.
This is precisely where SmartTAP 360° comes in. We at AudioCodes designed and built the SmartTAP 360°recording solution to deliver full recording and capturing capabilities for all enterprise interactions, while at the same time meeting the strictest compliancy demands.
Certified for Microsoft Skype for Business and Microsoft Teams Direct Routing, SmartTAP 360° allows you to record everything, regardless of whether the interaction was over voice, video or instant messaging. Per compliance recording needs, internal, external and mobile interactions are supported, as well as interactions with remote and federated users. Stored recordings are encrypted, and interactions can be exported with a digital signature to verify data integrity, with nation-specific storage to meet regulative demands. There is a role-based access control with an audit trail and complete logging of all user activities. In addition, interaction deletion prevention prevents recordings from being accidentally erased, as required by GDPR.
Now that SmartTAP 360° is under the umbrella of the AudioCodes One Voice Operations Center (OVOC) network management solution, all the vital compliance information that enterprises need can now be seen in one place. From a single pane of glass, SmartTAP 360° can be switched on and off easily with just a few clicks and alarms can be defined to provide notification should a specific recording issue ever arise. These alarms can be filtered and searched by severity, device or region, and then forwarded to email addresses, Syslog servers and other SNMP systems. Interactions are stored securely and confidentially, either on-premise or in the cloud. Furthermore, it’s a straightforward matter to seamlessly integrate SmartTAP 360° with other AudioCodes voice networking products for a unified and comprehensive communications solution.
The bottom line – as I explained to this IT manager – is that SmartTAP 360° is much more than just a basic recording tool that you’d find in generic collaboration platforms. It’s an enterprise-grade professional recording platform where recording isn’t a just a feature but the whole focus.
Read our white paper,
Enterprise Call Recording – Collaboration vs. Compliance, to learn more about how SmartTAP 360°
keeps you firmly on the right side of today’s regulatory requirements.