Challenge 

Ensure the bank could identify and quantify failures in its communications recording system in order to assist in compliance with the bank’s MiFID II regulatory requirements in a timely manner.

Solution

The bank worked closely with IPC’s experienced compliance team to implement Recording Check and Call Match to deliver daily health checks of the recording system and data for analysis on any recording issues.

Customer Benefits

The bank now has greater peace of mind for compliance because it has:

• Automated checking of calls on a daily basis
• The ability to evaluate the impact and provide information to its compliance team if and when a recording  failure occurred
• The capability to provide regulators and/or investigators sufficient information and documentation in a timely manner about recordings to mitigate the bank’s compliance risks.