February 03, 2009
SIP Print Now FSA Compliant for U.K. Financial Institutions
By Tim Gray, TMCnet Web Editor
SIP Print (News - Alert) today announced the availability of its voice recording appliances designed to meet the complex standards set for the U.K. financial services market.
The company, creators of an affordable SIP-based VoIP call recording platform, made the announcement at TMC's INTERNET TELEPHONY Conference & EXPO 2009 in Miami.
Much like the Sarbanes-Oxley Act of 2002 in U.S. and other SEC (News - Alert) regulations established to protect investors, the U.K. financial system has a complex system of checks and balances designed to protect against fraud.
In fact, a new call recording mandate established by the Financial Services Authority (FSA) in the U.K. requires financial institutions to record and archive all telephone conversations and electronic communications relating to client transactions for a period of no less than six months.
The mandate takes effect March 6, 2009.
"The need to record calls continues to increase, driven both by internal quality assurance programs and by regulatory compliance requirements," said Don Palmer, CEO, SIP Print. "In the United States, the Communications Assistance for Law Enforcement Act (CALEA) and Sarbanes-Oxley legislation have dictated the recording of certain phone calls by some businesses, and many other firms choose to record calls for internal compliance purposes or for training and customer services needs.”
Financial institutions participating in the equity, bond and derivatives markets in the U.K. must be compliant within six months of the March deadline.
The FSA has applied an 18-month exemption for the recording of voice conversations from mobile phones and other handheld devices.
“The new FSA regulations for the U.K. financial services community are yet another example of the trend towards increased regulatory oversight and improved corporate security and protection," said Palmer.
This is first foray into the U.K. for SIP Print. The California company is a creator of a unique SIP-based VoIP call recording platform designed to offer a “pure system-level” SIP voice recording for SMBs and larger organizations with a need to record phone calls for training, regulatory, compliance or quality assurance purposes.
As organizations worldwide accelerate their acceptance and adoption of IP-based communications systems, SIP Print has emerged as a leading provider of affordable on-premise systems to record and store calls on these Voice-over-IP (VoIP) systems.
SIP Print voice recording systems are compatible with mainstream VoIP phone systems and hybrid systems including Allworx, Aastralink, Altigen, Avaya IP Office, Avaya Distributed Office, Cisco, Epygi (News - Alert), Fonality, Grandstream, Mitel, NEC 8100, NEC 8300, Nortel, ShoreTel, Toshiba, Zultys and 3Com.
Financial services providers utilizing VoIP phone systems are encouraged to contact SIP Print for details about evaluating SIP Print's award-winning call recording solutions. Resellers and distributors in interested in joining SIP Print's Partner Program are also invited to contact the company at http://sipprint.com/contact.php or via email at firstname.lastname@example.org.
This week SIP Print is at TMC's ITEXPO (News - Alert) and can be visited in Booth #828. For more information visit the ITXPO Web site here.
Tim Gray is a Web Editor for TMCnet, covering news in the IP communications, call center and customer relationship management industries. To read more of Tim’s articles, please visit his columnist page.
Edited by Tim Gray