Market Communications, a provider of VoIP systems and telecommunication solutions, announced partnership with CGS, a company that delivers communications technology solutions for different industry verticals including Contact Center, Medical IT and Disaster Recovery markets, to help companies comply with the Dodd-Frank Act (DFA).
The DFA regulations will have immediate impact on the banking and financial trading institutions as it will affect all manner of business operations including communication and system infrastructure management, industry experts said.
DFA regulation will place new demand on the way in which firms must collect, maintain and access communication data including email and instant messages, mobile communications and voice recordings. Companies will be expected to access records and reconstruct communications as they pertain to financial transactions and trading activity, Market Communications said.
Under this partnership, both companies will help trading firms and financial office comply with the Dodd-Frank Act by providing specialized voice recording, data management and support services.
The partnership between CSG and Market Communications extends beyond IP phone integration and other voice solutions to help trading firms and banks transition their communication and voice recording capabilities to meet with DFA standards. They have developed these services in a way that smoothly integrates into their clients’ current communication and data management operations.
“This partnership has given us the ability to ensure that our clients stay within the scope of the regulations,” said Market Communications executive vice president of Sales, Michael Sheehan, in a statement.
Services offered under this partnership comprise of a multifaceted approach to data and communication management, including robust call recording capabilities, system infrastructure monitoring, SME service and support, as well as efficient employee training to help all essential company personnel. This will ensure that trading firms and other financial institutions can ensure rigorous compliance without causing disruption to their business.
Market Communications has partnered with telecommunication product and network providers and delivers complete trading turret, IP PBX (News - Alert) and hosted solutions.
Edited by Cassandra Tucker