Regulated voice and text on personal phones can be captured and recorded, cutting risk of fines for non-compliant communications
Tango Networks announced a solution enabling calls and texts on personal mobile phones to be automatically captured for recording, enabling banks and financial services firms to avoid hundreds of millions of dollars in fines for compliance violations.
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Financial industry regulators are fining top tier banks and financial services firms because employees are doing business on personal mobile phones. US and UK regulations require that communications about financial transactions involving securities are recorded and retained.
Tango Networks Mobile-X™ Extend enables simple capturing and recording of voice and text communications on any smartphone, including personal Bring-Your-Own-Device (BYOD) phones. Now financial services employees can use personal phones for regulated communications without violating recording rules.
“Every second counts when you are responding to a financial market opportunity. That’s why financial services professionals often use personal mobile phones for time-sensitive communication with clients when away from their desks,” said Andrew Bale, Executive Vice President for Tango Networks. “Tango Extend™ ensures these professionals can be mobile, in touch with clients, and compliant all at the same time.”
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Tango Extend enables an eSIM in the personal BYOD phone to be in control of the financial services firm. Work and personal communications on the phone are separated and secured as dual personas.
The business persona uses the business identity and number for communications. Business voice and text can be captured and recorded by the same recording system the company uses for landlines. Meanwhile, personal communications remain private and use the employee’s personal identity and number.
Tango Extend requires no on-phone apps or special training. Winner of more than 10 best new product awards and covered by more than 90 patents, the Mobile-X platform incorporates breakthrough fixed-mobile convergence technology to empower companies to transform operations, streamline collaboration and boost employee productivity across the board.
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