Etrali rolls out mobile voice recording to Japanese market
Etrali Trading Solutions has rolled out its mobile voice recording service in Japan, allowing financial institutions to meet FSA regulations in the country. Etrali’s SIM-based solution is already used in Europe and the US.
Etrali says it is currently working with a “tier one” bank in Japan, and provides local language support. The tool will provide users with local Japanese number ranges and global roaming so that calls are captured and stored for the regulator.
The rollout in Japan is an extension of Etrali’s existing service. In October, EE rolled out mobile voice recording in the UK in collaboration with Etrali Trading Solutions. EE didn’t use an app, instead it collected the phone call data from Etrali and stored it on Etrali’s cloud infrastructure.
Etrali has been feeding phone call data into Bloomberg Vault since February 2013. The idea was that compliance personnel can carry out a single search across different formats including email, instant messages, Bloomberg messaging, mobile, social media and voice records.
Deployed with mobile voice recording partner Natterbox, the Etrali Trading Solutions services platform can record in 150 countries worldwide. Content can be stored locally or in a secure cloud depending on the customer’s preference.
“The Asia Pacific market is becoming more regulated and firms need to be aware of what local and global regulators require,” David Guerineau, head of Asia Pacific Etrali Trading Solutions. “To meet these demands we have rolled out our mobile voice recording service to Japan and will extend it to other key financial centres in the region including Hong Kong and Singapore later this year. Our secure, network-based solution will ensure voice, data and mobile communications are all recorded on one device. It is one of the first regulatory compliance solutions to offer mobile and fixed recording, archiving and analytics via our private cloud.”
The requirement for greater record keeping is part of a global move by regulators in developed markets to increase the transparency of financial markets and prevent a recurrence of 2008, when complex OTC derivatives were poorly understood and tracked, leading to mass confusion during the default of Lehman Brothers on 15 September that year.
Several voice recording solutions are currently in competition around the world. These include a new service being developed by Voxsmart, which it claimed back in November was the first to automatically capture every type of communication on a mobile device so that it can be used for trading compliance purposes, including the FCA in the UK and Dodd-Frank in the US. Alternatively, a separate solution from TeleWare in the UK involved changing the SIM in the trader’s phone, which then captures the call automatically. TeleWare’s USP was that it has its own core network, and also buys capacity from mobile operator networks where necessary.