Orange (News - Alert) Business Services - Trading Solutions, a provider of convergent voice and electronic trading infrastructure and services for the trading communities, has formed partnership with Bloomberg (News - Alert) to deliver a cloud-based voice record archiving service.
Financial services firms are facing challenges to meet the expanded record-keeping and analytics demands globally due to the changes to regulatory reporting requirements. The increasing complexity of record-keeping and record-delivery guidelines has created market demand for a cost-effective cloud platform with analytics, search, policy management, and archiving of all data formats - including voice data.
The partnership integrates Bloomberg Vault, Bloomberg’s leading cloud-based information management service for enterprise communications with the voice services from Orange Business Services (News - Alert) - Trading Solutions, to help manage the data stored by customer-site voice recording systems. The integration helps produce electronic call recording in near real- time.
The service will help financial institutions address the voice recording headache without incurring huge costs, says Robert Powell, global head of Compliance at Orange Business Services - Trading Solutions. “Bloomberg is the de facto communications platform for traders. Combining this together with our voice recording expertise presents a unique offering to the market.”
The integrated service works in the following manner: Orange Business Services - Trading Solutions' voice capability will feed Bloomberg Vault with data from phone calls stored in the voice recording systems. Once Bloomberg Vault has archived this data, compliance personnel will be able to execute a single search across all data formats such as e-mail, instant messages, Bloomberg messaging, mobile, social media, proprietary messaging formats, and now voice records, to produce a consolidated transaction-record mapped to counter-parties.
“Combining the notable voice-recording expertise of Orange Business Services - Trading Solutions’ with Bloomberg Vault’s leading information management capabilities has enabled us to deliver a first-to-market archiving service, which we expect will help clients meet regulatory requirements,” said Harald Collet, global business manager, Bloomberg Vault, in a statement.
The integrated cloud-based voice record archiving service from Orange Business Services - Trading Solutions and Bloomberg Vault will be available to regulated industries that can leverage new or existing voice recording infrastructures.
Edited by Brooke Neuman