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September 2019 quarterly update

September 2019 quarterly update

Our September quarter was a period characterised by growth: with expansion across sales, and new roles filled in Australia, Europe and North America across marketing; development; compliance; and support. This enhancement of the team will be instrumental in meeting our current priorities: providing call recording and voice AI (artificial intelligence) services for the Cisco Webex Calling platform, driving growth of mobile call recording in Australia, furthering our USA expansion with tier one carriers, rolling out a global artificial intelligence initiative, and continuing to develop our global distribution and reseller network.

Our key highlights for the period:

  • Revenue increased by 6% from the previous quarter to $2.15m, up 200% on the previous corresponding period (PCP).
  • End user subscriptions increased by 23% to over 117 000, up 165% on the PCP.
  • 113 agreements were made with service providers and 52 service providers reached billing stage.
  • Contracted annualised recurring revenue at 30th September was $10.2m.
  • Cisco Webex calling launched Dubber as their recording service 31st October.

We are strongly positioned to expand on our leadership in cloud call recording and data capture in traditional unified communication networks, fixed-mobile converged networks, and UCaaS networks.

Cisco Webex Calling

Cisco Webex Calling is a multi-tenant, cloud-based alternative to an on-premise PBX, and is available as a subscription service. In preparation, we achieved ISO 27001 compliance: a globally recognised standard for information security management systems. The service is now live and will be available via the Cisco order entry system.

Mobile and ‘whole of business’ recording

Businesses are now looking beyond call recording for compliance, and seeking mobile recording services and insights on customer interactions across the whole business. We are working towards a service that will provide widespread availability across Australia. During this preparation we have completed an agreement with Schepisi Communications and have been awarded the Telstra Enterprise Mobility Carriage Partner of the Year for 2019.

Continued momentum

Dubber co-founder and CEO Steve McGovern commented on the September quarter results:

“Fundamentally, we have scaled our operations from a ‘Founder led’ company to one which is able to execute on the opportunities which are in multiple jurisdictions.

We are pleased with our momentum towards facilitating widespread uptake of the Dubber platform as a mobile or fixed mobile converged offering. The Company believes that there is significant immediate demand for these services and activation of the initiatives should see user uptake and revenues grow strongly.

Our AI programs are continuing to gain momentum with our large partners like IBM. We are seeing strong increases in the number of enterprise customers, particularly in North America, that are interested in garnering business insights. We believe that gaining access to real-time voice calls on an enterprise-wide basis will be a strong business driver for us in 2020.

Throughout the remainder of FY20 we will continue to procure additional key carrier agreements, accelerate their time to billing and add new channel and systems integrator agreements to build out the global backbone of call recording. These are the foundations of growth for the next term and we are now ready to execute on these with the team we have in place.”

A scalable platform for growing businesses

A scalable platform for growing businesses

Our cloud storage sets us apart from other call recording service providers by offering a scalable platform for growing businesses. As a native cloud call recording solution, we offer a range of storage options to adapt to the needs of service providers and their customers. We built the Dubber platform in the cloud to offer unlimited scalability to our customers. What does this mean in practice?

Flexible options

Scalability offered by the cloud provides flexible approaches to user counts, processing capacity, and storage. Combined, these allow us to provide products and plans tailor-made for service providers.

Perpetual retention

A common challenge for on-premise solutions is that their sizing was undertaken at time of installation. As a business grows in both users and usage, a challenge can arise where the volume of daily new call recordings is beyond prediction. This forces administrators to balance which services are being recorded and the length of time to retain each recording.

This approach to retention is just not adequate in the real world, especially when regulations such as MiFID II require calls to be stored for five years. The Dubber platform has the capability to securely store large volumes of calls in perpetuity, giving organisations the tools they need to comply with the regulations of their industry.

SaaS

Our Software-as-a-Service model allows us to offer a range of subscription options to telecommunications service providers and their customers. Want to cover call recording for compliance and contact centres but also offer packages with less commitment that introduce a whole new customer base to the benefits of call recording? Dubber has you covered. We offer low-cost and commitment-free packages with shorter storage periods that can be supplied alongside standard reserved call recording packages that require perpetual storage.

Unrestricted storage

As well as long-term options, the Dubber platform can also accommodate large call volumes. The unrestricted storage provided by the cloud allows for vast numbers of concurrent calls to be recorded. Dubber’s true cloud storage allows the solution to scale alongside a business during busy periods, and there are never any concerns about running out of space. Calls are always available instantly and are easily searchable.

Security

Dubber is a native cloud platform, with an architecture specifically designed to provide maximum security for the recording data of all our users. The Dubber platform utilises sophisticated security systems, leveraging cutting edge cloud technologies to provide a highly secure and scalable call recording solution. All data is stored within our platform under AES-256 bit encryption, providing best-in-class security. The platform offers true cloud multi-tenancy architecture, ensuring separation of all customer data.

Learn more about our security

Get in touch to find out how the Dubber solution can scale to suit your business, contact us here.

June 2019 Quarterly Update

June 2019 Quarterly Update

Following April’s capital raise of $22m, we have utilised this investment to scale the business in order to pursue growth potential. Cash at bank as of 30th June 2019 was $19.6m, with the company fully funded to execute these opportunities. The leadership team has been expanded, and the service has now launched with Spark New Zealand and Bell Canada. Key metrics for the June quarter include:

  • Revenue increased 29% from $1.57m to $2.03m, with annual operating revenue increasing 269% from $1.5m to $5.54m
  • Telecommunications service providers at the billing stage increased to 106, from 36 in June 2018
  • Subscribers increased 222% to 94 825 over the year from 29 405, with 21 668 added in the June quarter

Commercial opportunities

Market conditions, customer and partner requirements, and the continued growth in cloud voice and data services has enabled Dubber to consolidate our position in the market. During the June quarter we have focused on scaling to capitalise on commercial opportunities and we have grown our sales team in order to procure network agreements and generate revenue across Australia, North America, and Europe. In order to support our channels, including IBM and Cisco/BroadSoft, we have increased resources to expand our reach with these organisations. Our AI development has continued with the enablement of third party integrations, including CRM systems and trading platforms, and other value added services for telecommunications service providers.

New staff

In order to strategically target growth opportunities around the world we have expanded our team, particularly in technology development, sales, account management, and application development. We have added 14 new staff members, including a director of global sales, a strategic partnership manager and a channel sales director for ANZ.

Service provider launches

In June, the Dubber service went live with Spark New Zealand on their Cloud Phone Service. Spark (formerly known as Telecom New Zealand) is one of New Zealand’s largest telecommunications and IT service providers. Shortly after the June quarter, Dubber also went live with Bell Canada, providing call recording to its Bell Total Connect Service. Bell Canada is the largest communications company in Canada. Customer subscriber numbers are expected to be reflected in the current quarter and beyond.

Continuing to build the global backbone of call recording

Dubber co-founder and CEO Steve McGovern commented on the June quarter results:

“Our service provider and technology partnership agreements represent some of the world’s largest telecommunications service providers and global technology sales channels. With a technology that is designed to meet large scale requirements, the business itself is in a position to scale to capitalise on the opportunities available to it.

“We have seen an acceleration of large enterprise customers moving quickly towards adopting AI in their operations (and thereby call recording), particularly in Australia and the USA. There have also been extensive developments in the cloud voice and collaboration markets in the last quarter that we believe will have a profound impact on the way voice and related services will be delivered to end customers.

“The Company’s short-term goals are unchanged – we will continue to procure additional key carrier agreements to build out the global backbone of call recording, to grow revenues on a quarterly basis, and to be cash flow positive on a monthly basis this calendar year end.”

Setting standards for security

Setting standards for security

Dubber are committed to providing the highest levels of security for our native cloud platform, as well as offering unlimited scalability, and rapid deployment to meet and exceed the expectations of our clients with no CapEx. Read on to find out the ways in which we maintain our high standards of security.

Cloud security

We chose to build our products and services in the cloud, specifically to leverage the levels of security that are only made possible through the cloud. Security is maintained at every stage of the call capture and data processing journey, with AES-256 encryption protecting recordings and multiple data storage sites mitigating any disaster recovery concerns.

Safe and secure sharing

The security of our platform is just one aspect that we considered when creating our solution. We also wanted to ensure that data was protected while still maintaining accessibility for businesses and individuals. Unlocking the valuable data stored in phone calls is one of the main reasons that customers choose Dubber solutions, but it is important to make sure that the owners of this data are protected. We created teams and permissions settings that restrict access to recordings, and a unique sharing function that does not share files with third parties but instead emails a non-downloadable link that expires for added security.

Local storage myths busted

Unfortunately, security is often a concern that prevents businesses from moving to the cloud. In reality, moving storage off-premise means organisations immediately mitigate the risk of having vulnerable data on-site. With data centres all over the world, we can offer a variety of options for organisations who require specific storage locations for their data. These storage centres also offer data sovereignty, so data is only stored in one geographic location. Within each location, data is written to multiple data centres for geographic redundancy: preventing data loss in the event that a data centre is compromised. These data centres guarantee availability of every single recorded call at any time, allowing quick and easy access to data for every customer.

Dubber’s cloud storage employs the latest in encryption technology to offer the highest protection, which is managed by a team of experts at a level that legacy solutions cannot compete with. Any data stored within Dubber is only stored by us, and not owned by us. Data rights are retained by the owners of the data, Dubber merely offer solutions that capture, process, and store data.

We are ISO certified

Dubber is ISO 27001 compliant. ISO 27001 is the globally recognised and respected standard for information security management systems (ISMS). In order to gain certification, an organisation must develop and implement a rigorous security management programme: including an ISMS. Organisations must systematically evaluate information security risks, taking the impact of security threats and vulnerabilities into consideration. Any security risks must be addressed with a comprehensive suite of information security controls. An audit and compliance management process must be implemented to ensure ongoing protection.

This achievement is an assurance that Dubber’s data security processes are effective at every level of our organisation. The Dubber core principle is one of agile and continuous improvement and this extends to our data security commitment.

Download our ISO certificate here.

How we protect data

  • Establishing, maintaining, monitoring, reviewing, auditing and continually improving our ISMS
  • Establishing, reviewing and communicating our information security objectives and performance measures
  • Committing to satisfy business, legal, and regulatory and contractual security obligations
  • Committing to continual improvement of our ISMS by seeking feedback from clients, staff, and through internal and external audits
  • Ensuring that the ISMS is communicated with every member of the Dubber team

Have any questions about our security? Drop us a line.

What are the risks of storing calls on-premise?

What are the risks of storing calls on-premise?

Organisations who download their recorded calls to local storage are putting valuable data at risk of damage, theft, or tampering. Dubber are committed to providing a secure and reliable call recording platform to meet and exceed the expectations of our customers: at an affordable monthly cost, with zero CapEx.

Why shouldn’t you download your calls?

There are four main risks associated with downloading recorded calls to local storage:

  • Security: Recorded calls downloaded to local storage are much more vulnerable to theft, damage, or tampering. Having only one on-premise server means fire or power shortages could destroy all recordings.
  • Access: Storing data locally can be detrimental to team members who need to access recordings, as it is often more difficult to manage and access recordings outside of a dedicated recording platform.
  • Cost: Using and maintaining on-premise storage solutions is expensive: both to set up and maintain on a day-to-day basis. Organisations need to either employ trained staff members, or to engage expensive third parties to manage the solutions. As incidents can occur at any time, this could result in call-out charges.
  • No audit trail: With local storage there is no audit trail. Users can listen, share, or delete recordings with no record of their actions.

Protect against risk with secure cloud storage

Utilising Dubber’s cloud solution, organisations immediately mitigate the risk of having vulnerable data on-site. The Dubber solution also employs the latest in encryption technology to offer the highest protection, which is managed by a team of experts at a level that legacy solutions cannot compete with.

Instant access to every call

Cloud storage with Dubber guarantees the availability of every single recorded call at any time, allowing quick and easy access to data for every customer. Storing calls with Dubber also allows users to retrieve calls instantly with advanced elastic search functionality that trawls every call, no matter when it was recorded. Cloud storage also facilitates ease of use for remote workers or those based in different offices. With all recorded calls available to access from any location, staff working across different locations can continue to playback recordings and use voice data without being in the office.

Consistent costs with no surprises

The costly management and staff resources associated with local storage can all be avoided with long-term storage with Dubber. All of the setup, management, and ongoing maintenance is covered by Dubber, meaning that costs stay the same, no matter what. The monthly subscription fee is the only expense, and there are no worries about unexpected costs in the future. Dubber’s SaaS model keeps costs down to a low monthly payment, rather than requiring CapEx that can be difficult when obtaining budget allowances.

Detailed audit trails

Access to calls is restricted by permissions structures to prevent unauthorised access or sharing of calls or data, and all activity is tracked and timestamped in order to create comprehensive audit trails. A full audit is collected for any transaction within the Dubber platform. All activity, such as users listening to, sharing, and deleting recordings, is monitored and logged within the platform. This logging provides both real-time monitoring of the platform and its status.

Offer your customers cost-effective storage from Dubber

Join Dubber and offer your customers long-term, secure cloud storage for their recorded calls. With no restrictions of storage space, no requirements of on-premise equipment, and instant access to all recorded calls, Dubber’s solution is second to none. What this offers is the opportunity to safely store huge amounts of valuable data, worth much more than marginal savings on a call recording package that might allow only 90 days of storage.

Get in touch to find out more about the benefits of long-term storage with Dubber.

Why is security important in a digital age?

Why is security important in a digital age?

How much personal data did you share today? Within a digital society, where web browsers sometimes know more about us than our friends, security is more important than ever. For businesses who process personal data from their consumers, ensuring they protect this information is vital.

The consequences of poor security

Security breaches are big news: the headlines that result from data hacks can be disastrous for an organisation’s reputation. Consumer relationships with brands are built on trust and customers need to feel that their data is safe, otherwise they are likely to look for alternatives.

In order to help protect consumer data, the EU have enacted the General Data Protection Regulation (GDPR) to set a standard for businesses to adhere to when dealing with the management and storage of customer data. Failure to comply with the data protection requirements of this regulation can result in fines of up to €20m or 4% of annual turnover for the prior year, whichever is higher. Read our post on how the GDPR will affect call recording for more information.

In order to comply with the GDPR, and to ensure that their customers feel that their data is secure, businesses need to examine their data storage. In the past many organisations saw on-site storage as the best option, but the rise of the cloud has shown the benefits of digital transformation and the advantages of cloud storage over on-premise solutions.

What are the risks of storing calls on-premise?

Recorded calls downloaded to local storage are much more vulnerable to theft, damage, or tampering. Having only one on-premise server means fire or power shortages could destroy all recordings. With local storage there is no audit trail. Users can listen, share, or delete recordings with no record of their actions.

With a cloud storage solution from Dubber, not only are calls more secure but there are many other advantages over on-site solutions. The cloud allows users to have convenient access to information held within phone calls — anytime, anywhere. This access is managed through strict security permissions that are allocated by designated admin users, and a full audit trail can be traced. Colleagues can collaborate from across locations, and workers are no longer tied to their desks.

Dubber’s security

Recorded calls are not only a valuable source of insight, for some businesses they make the difference between compliance and non compliance. That’s why at Dubber we have put security at the forefront of every stage of the recording process.

Simple and secure access: we ensure that users can easily and securely log in to view calls, but only with strong passwords. With strict teams and permissions settings, calls cannot be accessed by unauthorised personnel.

Single sign-on: the Dubber portal can now be accessed with single sign-on, allowing users to authenticate themselves using third-party credentials.

Sophisticated security and encryption: recorded calls are encrypted using AES-256 at every stage of the recording process.

Industry-leading security standards: Dubber is ISO 27001 compliant. Download our ISO certificate here.

What is ISO 27001?

What is ISO 27001?

ISO 27001 is an international standard for information security, which provides a framework for the information security management system (ISMS) within an organisation. Like Dubber, ISO 27001 is all about constant improvement, and encourages a system that works to constantly optimise itself.

In order to gain certification, we developed and implemented a rigorous security management programme, including an ISMS. This management system went through a rigorous auditing process that thoroughly examined our approach to information security and the controls we have put in place. We were able to achieve this by establishing an ISMS leadership team, comprising of senior management, and an InfoSec lead to champion and to manage this within Dubber. We engaged InfoSec consultant QMIS in the early stages of the initiative and we leveraged the ISMS.online tool to enable us to centrally manage our ISMS, and to make ongoing governance easier for us in the long term. In order to receive our certificate, we worked with these cloud security specialists and were put through a rigorous auditing process that thoroughly examined the information security management and controls we have put in place.

“Our ISO 27001 certification is an important indication of our dedication to protecting the information handled by Dubber. Our approach to compliance and security has always been proactive and rooted in continuous improvement, and this certification shows our dedication and long-term commitment to data protection.”

— James Slaney, Dubber Head of Product

The key principles

The three tenets of an ISO 27001 compliant ISMS are:

  • Confidentiality: ensuring access to information is restricted to certain authorised individuals
  • Integrity: ensuring that information processing methods are consistently accurate and thorough
  • Availability: making access to information and assets available to authorised individuals
How we protect data

Here are some of the ways we at Dubber are continually working to protect the data we process both on our platform and throughout our organisation:

  • Establishing, maintaining, monitoring, reviewing, auditing and continually improving our ISMS
  • Establishing, reviewing and communicating our information security objectives and performance measures
  • Committing to satisfy business, legal, and regulatory and contractual security obligations
  • Committing to continual improvement of our ISMS by seeking feedback from clients, staff, and through internal and external audits
  • Ensuring that the ISMS is communicated with every member of the Dubber team

To learn more about Dubber security, you can download our white paper, or get in touch with one of our team.

Dubber raises $22m to accelerate growth

Dubber raises $22m to accelerate growth

We are pleased to announce that we have successfully secured AUD$22 million from investors, with an investor demand that exceeded our aims. These funds will support our continued pursuit of global growth opportunities and allow us to scale to meet increased demand and secure long-term recurring revenue.

How this raise will be used

Dubber have existing agreements with 92 telecommunications service providers and we are continuing to see strong demand for our products. Service providers are seeking to provide services to their customers that are rich in features and they are standardising these across multiple networks. These existing relationships will be instrumental in driving customer uptake of our services and bring with them long-term value through recurring revenue. Our new investment will go towards our continued expansion into new deployments with service providers across the globe, particularly in North America and Europe.

Our Dubber Connect model is a fully-managed service that allows rapid deployment of our products. Its popularity with service providers means that we will be investing in additional business development and sales staff to ensure we can develop this model further and refine our offering.

As the embedded recording service for the Cisco BroadCloud platform, Dubber has substantial global opportunities. Funding will support growth avenues through the global presence of Cisco BroadCloud. Our recent agreement with IBM to market a joint technology solution will also receive support to fully take advantage of IBM’s substantial client base.

A ‘significant milestone’

Steve McGovern, Dubber CEO, commented on the raise: “This is a significant milestone for Dubber, following strong growth across our key metrics. Dubber has a unique advantage through its operating leverage, that to date has allowed us to service the largest carriers in the world, in a number of different continents, with less than 60 employees. We are truly excited to now invest in the next stage of growth to ensure that we become the de-facto industry solution in our market.”

Download our ASX announcementfor full details of the raise and how we plan to use the funds.

 

Press Release: Dubber to Provide Cloud Call Recording for CBTS

Press Release: Dubber to Provide Cloud Call Recording for CBTS

  • CBTS integrates Dubber cloud call recording platform for Call Capture and Analytics
  • Incumbent telecommunications carrier in greater Cincinnati, Ohio area, with national US business footprint
  • Dubber Platform to be available to CBTS Customers from May 2018
  • Migration of 2,800 call recording users to Dubber platform by end of CY Q2 2018

Dubber has been selected by tier one regional telecommunications provider, CTBS – https://www.cbts.com –  a wholly owned subsidiary of Cincinnati Bell, to provide cloud call recording for its CBTS product portfolio.

Headquartered in Cincinnati, Ohio, the company is a tier one regional service provider that provides integrated communications solutions – including local and long-distance voice, data, high-speed Internet and video to residential and business customers in the Greater Cincinnati and Dayton areas.  Through wholly owned subsidiaries CBTS and OnX, the company also provides business communications and IT services to customers throughout the USA and Canada.

CBTS will integrate the Dubber platform to provide market-leading call capture and analytics into its CBTS product portfolio by the end of May 2018.  In addition, the company is immediately transitioning 2,800 call recording users on legacy systems onto the Dubber platform.  This transition will be completed by the end of CY Q2 2018.

Steve McGovern, CEO, Dubber:

“We are delighted to be working with CBTS to support them for their call recording requirements on the CBTS Business platform.  As a significant regional service provider in the United States, they are viewed as a market leader and innovator in the markets they serve.  By integrating the Dubber platform as a feature rich, value-added service for users, the company will be able to provide their business customers with the most scalable cloud call recording and analytics platform available.  We are looking forward to working closely with the CBTS team as they deploy and roll out the Dubber platform to their customers and prospects.”

The CBTS agreement will advance Dubber’s strategy to accelerate active users and associated revenues while establishing global leadership in cloud call recording and voice data management.

Dubber Completes $6.5 Million Placement with Institutional and Sophisticated Investors

Dubber Completes $6.5 Million Placement with Institutional and Sophisticated Investors

Dubber Completes $6.5 Million Placement with Institutional and Sophisticated Investors

Dubber Corporation Limited (ASX: DUB) is pleased to announce that it has received commitments for a $6.5 million capital raising placed with institutional and sophisticated investors. The capital raising will result in the placement of 17,143,572 new fully paid ordinary shares at an issue price of $0.35 per new share (with a further 1,428,572 subject to shareholder approval) under the Company’s current placement capacity in accordance with Listing Rule 7.1 (5,435,343 shares) and 7.1A (11,708,229 shares). The price of $0.35 meets the requirements of LR 7.1A.3 in being greater than 75% of the 15-day VWAP.

Settlement of the placement and issue of new shares is expected around Wednesday, 20 December 2017.

The placement was supported by existing shareholders and institutional investors. The funds raised will be used to further expand Dubber’s operations, particularly in North America and Europe where the Company is seeing strong demand for its services and a number of strategic agreements with tier one service providers reach anticipated full deployment in calendar 2018. The Company will also be adding additional staffing and strategic account directors as its cloud call recording and intelligence platform is fully integrated into BroadSoft’s BroadCloud Unified Communications delivery platform.

As part of the capital raising a significant portion was taken by entities managed by James Spenceley, an Australian telecommunications pioneer and founder of Australia’s largest fixed line Telco Vocus Group Limited.

“The adoption of cloud based IP telephony is accelerating globally, a pre-requisite of that successful transition is cloud based call recording. Dubber’s solution is simply world leading and solves a very real problem for Telcos and Vendors looking to transition their clients to the cloud. It is exciting to be able to support a home-grown technology business addressing a global market and validated by some of the world’s biggest telcos and telephony vendors” said Mr. Spenceley.

As part of the capital raising, Managing Director Steve McGovern has subscribed for 1,428,572 shares ($500,000.20) subject to shareholder approval.

MiFID II: An Opportunity To Set Your Business Apart

MiFID II: An Opportunity To Set Your Business Apart

The deadline for compliance with MiFID II regulations is upon us and the time to adapt to the new rules is now. This extension of MiFID legislation requires any company or employee to record all calls, across mobile and fixed lines, that include financial advice that could lead to a trade. More regulation shouldn’t mean doom and gloom: smart organisations will see these changes as an opportunity to set themselves apart from their competitors with an honest and trustworthy approach to trading and financial advice.

Compliance is an opportunity, not a burden

With technological advances, businesses have the opportunity to make huge improvements in the way they work and the enforcement of MiFID II regulations are the perfect cue to start. By utilising cloud technology to meet the requirements of the new legislation, financial organisations can turn these regulations to their advantage to create value for their business: at an affordable cost, and with no disruption to their existing processes.

Looking beyond the necessary steps required for MiFID II compliance, financial organisations can actually improve their offering and beat the competition by taking advantage of new opportunities. The benefits of a proactive approach to compliance include:

  • Improvements in business and customer service practices
  • Setting a higher bar for competitors puts businesses ahead of the game
  • Gaining a reputation for best-in-class practice
  • An opportunity for new technologies to harness the true value of recorded data
  • Risk identification and management

Intelligent call recording goes beyond compliance

By deploying call recording for compliance, organisations can also take advantage of the added benefits that can be accessed. Dubber’s call recording is available with the added intelligence of Zoe: a sophisticated suite of speech analytics tools that can help businesses unlock the data held within their voice calls.

Identifying issues and opportunities

Speech intelligence can be instantly added to Dubber’s cloud call recording, allowing organisations to turn MiFID II compliance to their advantage. Zoe can help businesses to analyse their working practices — identifying issues that can be addressed as well as opportunities for development.

Risk management

With Zoe’s Smart Search functionality, recorded calls company-wide can be searched instantly, no matter the size of the organisation. Keywords associated with financial risk can be identified, highlighting conversations that might contain issues. This kind of monitoring promotes a reassuring environment for the consumer.

A competitive advantage

The aim of the MiFID II legislation is for consumers to regain trust in the financial industry, and financial organisations should jump at the chance to showcase how their company goes above and beyond their competitors. By setting a higher bar for financial practice, organisations can get ahead of the game.

A proactive approach to MiFID II regulations

Compliance with regulations shouldn’t be a reactionary game, with organisations playing catch up to attain the minimum requirements to meet regulations. Those who will lead the market will be those who proactively consider how to provide best-in-class practices that offer a better experience for their customers. With MiFID II following so closely behind the original MIFID legislation, MiFID III can’t be too far behind. By taking a proactive approach to customer service and business development, organisations can use technology to their advantage to stay ahead of the game.

Call recording for MiFID II from Simetric, powered by Dubber

Call recording for MiFID II from Simetric, powered by Dubber

The time to adapt to the new MiFID II rules is now. Together with unified telecom services provider Simetric, Dubber has the solution to help financial services organisations comply with the expanded regulations of MiFID II.

Delivered through a SIM card, this advanced communications solution gives users the ability to capture all of their mobile conversations as well as their fixed line calls – a key component of MiFID II compliance. The regulations require all conversations that result or might result in transactions to be recorded, and includes equipment provided to, or authorised for the use of, employees and contractors of the firm – mobile phones being a key example of this clause. This new service will allow users to have a single number across their mobile and fixed line platforms, with Dubber communication capture available across all of their devices.

As MiFID II regulations have extended their coverage to include independent financial advisors, a call-recording solution that can be implemented quickly and easily through a SIM card is an ideal solution. Dubber + Simetric’s call recording solution is cloud-based, enabling users to deploy the service rapidly.

An extra feature of this advanced communications solution is Zoe, Dubber’s powerful speech intelligence suite, which enables users to search through their calls and analyse the voice data that has been captured. Calls related to trades can be quickly located — a crucial component of MiFID II compliance — using a variety of search criteria, but the power of Zoe doesn’t stop there. Zoe’s capabilities are developing every day, and new functionality will allow users to gain valuable insights in a variety of ways from their conversations.

At a time when organisations must be seen to be taking compliance seriously, implementing a comprehensive solution that records communications across devices is an ideal way to ensure your firm is ready for MiFID II. Not only will the worry of compliance be lifted, but consolidating your conversations and using one number for all communications will streamline your workflow.

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