LONDON, June 2, 2011 /PRNewswire/ --
- Leading Investor Backs Patented Inline Mobile Recording(TM) Solution
Oxford Capital Partners (OCP), a specialist private equity organisation, has led a GBP2m ($3.2) investment in Compliant Phones, the UK's leading independent mobile and voice recording company, to accelerate the global roll out of its Inline Mobile Recording(TM) technology and services. This solution has been designed to support the financial community, ahead of new Financial Services Authority (FSA) mobile recording regulations, coming into force in November 2011.
Colin Watts, Investment Director at Oxford Capital Partners, said: "We are very pleased to support the roll out of this innovative technology which will enable global organisations to address their risk-management and compliance requirements in a fully connected communications environment."
Watts added: "We undertook an exhaustive review of the options before deciding to invest in Compliant Phones. We're confident Compliant Phones has the best solution to ensure the financial market is ready to adopt new FSA mobile recording regulations in November-and the innovative thinking and know-how to stay at the forefront of this exciting new market."
Vodafone Global Enterprise, the business within Vodafone which manages the communications needs of its largest multinational customers, uses Compliant Phones' intellectual property within its Vodafone Mobile Recording solution. This service enables regulated financial firms to record all incoming and outgoing mobile calls, voicemails and texts in anticipation of new regulations on compliance.
Compliant Phones' second-generation Inline Mobile Recording(TM) technology has been specially developed to work across any network, worldwide, overcoming the limitations of network-only based solutions for global customers. It also eliminates the need to change phone numbers or air-time provider. Patent-protected technology gives the user fast and transparent operation for the best possible experience through either a cloud-based service or an enterprise solution which is located behind the corporate firewall.
The latest technology from Compliant Phones provides the highest level of compliance out of any system on the market needed to fully meet the FSA Taping of Mobile Phones regulation. From November 2011, it will be mandatory for UK financial service businesses to record mobile calls and text messages involving the giving of advice and taking orders, no matter where the call is placed or received, in the home network or whilst roaming. Similar legislation is being enacted across other European states, most recently in Norway, under the umbrella of the EU Markets in Financial Instruments Directive (MiFID).
Curtis Nash, Compliant Phones' CEO, added: "Mobile recording regulation is an important new market opportunity for Compliant Phones, so we welcome today's support from Oxford Capital Partners. Our strength in this sector is that our recording solution provides a fast, transparent and flexible solution for the global financial services market. Trading is a global twenty-four seven activity and Compliant Phones' technology provides solutions to meet this environment and deliver compliance to financial institutions of any size."
SOURCE Compliant Phones