Call Recording for Compliance and Good Business Practice

Financial Conduct Authority

Regulatory Compliance

Where businesses such as financial services, mortgage agents, insurance brokers, solicitors and banks conduct business over the phone it can be useful to record calls. For certain businesses this is a mandatory requirement for client orders and transactions.

Our customers often find that the company phone bill is reduced because private calls are no longer made on company phones.

Regulations for Financial Organisations

The Financial Conduct Authority have regulated that all phone conversations and electronic communications relating to client orders in the equity, bond and derivatives markets must be recorded and securely archived for at least 6 months. The FCA also strongly advises that all phone conversations be recorded as a protective measure.

An increasing number of firms record their calls as an insurance against false claims. Worth review is an article from the Ombudsman: 'The importance of telephone recordings'.

Benefits

Mobile call recording can provide the following benefits:

  • Dispute resolution
  • Transaction verification
  • Staff training
  • Aide-memoire
  • Legal protection for both business and staff
  • Reduce overheads by reducing personal calls on company phones

How Call Recording Works

Mobile Recording

The FCA regulations have changed! Mobile calls are no longer exempt from the call recording rules and if you’re affected by this legislation you need to implement mobile call recording. X-on has an innovative and very cost-effective method of recording mobile calls that doesn’t require you to purchase additional equipment.

For further information on Call Recording please call Sales on 0333 332 0000.

Croydon Health

"X-on responded to our needs at the 11th hour during mobilisation… recommend them to anyone who requires any sort of call recording and retrieval system…"

Colne Valley

"The recording of calls in invaluable, as it helps to verify what a patient has actually said or asked for. We use this function a lot…"

Saffron Health

"We have saved money and gained useful additional features for our telephone system. The call recording feature has proved to be a most useful tool for us.…"

Hicks Group

"We can review and listen in on calls to see what went well and where things could be improved, helping to enhance the patient experience…"