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Latest Xelion release supports MiFID II compliant call recording

Xelion, the cloud telephony provider, has included MiFID II (Markets in Financial Instruments Directive) compliant call recording in the latest version of the Xelion service. MiFID II requires that all calls relating to a financial trades must be recorded (includes internal calls).

Xelion’s new MiFID II compliant call recording can be configured for only the required groups, users and numbers to be recorded, saving on storage. There is complete control over who have the rights to access recordings and recordings are only available via Xelion’s secure apps, with no public internet access.

Playback of calls via the Xelion apps allows for auditing and quality control. A powerful query tool allows customers to index and find calls quickly and easily without the need for support from the Xelion channel partner.

There is a single recording download option for managers, which can be disabled. A bulk extract tool allows data to be stored on third party drives with files stored in an indexed manor for quick searching.

Mobile calls using the GSM standard networks can also be recorded with all mobile carriers supported out of the box. Customers using multiple mobile carriers are supported, a particular need where there are BYOD users.

Both fixed line and GSM mobile networks are supported across Europe, whereas most competitive MiFID call recording only supports UK calls.

Unlimited scalable storage is possible with 1GB included per user pooled per customer. Additional storage will be charged at a highly competitive rate up to a third the cost of rival offerings.

For Xelion, Dave Reynolds UK Managing Director stated, “So many businesses are now involved in the provision of financial services that MiFID II compliance has become a ‘must-have’ feature. Our latest Xelion release now provides this crucial functionality with some significant advantages over rival offerings, including mobile and pan-European support. As ever, Xelion is leading the market while others play catch-up.”