Raiffeisenbank meets MiFID II compliance requirement for recording mobile phones in record time with Elevēo

Raiffeisenbank has been an Elevēo customer from 2008, using Elevēo’s recording system to record voice interactions between dealers and customers as investment transactions are conducted. This solution supports MiFID II compliance in Europe.

Raiffeisenbank

“In our last project, which was to replace a dealers’
telephony system for a bank, we once again confirmed that Elevēo could fulfill the customer’s requirements in full. The bank already had a solution to record IP telephones from the same supplier. This was made to include, in an earlier project, the recording of mobile telephones.
We had the ambition to incorporate the highly
proprietary technology of dealers’ Trade Boards into the same platform. This ambition has been realized in full.”

Ondrej Rydl
Head of Treasury Products
Raiffeisenbank a.s.

THE CASE IN DETAIL

Target 

The introduction of MiFID II financial regulations obliged Raiffeisenbank to capture and record interactions related to a broader set of investment conversations, creating a requirement for all calls between sales representatives and potential clients to be
recorded. This new regulation includes all conversations even if the client did not complete a transaction, and subsequently significantly increased the number of calls that needed to be recorded. Additional requirements included the capture of sales representatives’ mobile
phone calls which previously were not recorded.

Solution

Elevēo has developed the ability to support the re-coding of dealing platforms Unify OpenScape Xpert and integrated them into its system.

A module was also developed and delivered specifically for our customer Raiffeisenbank to play back recorded conversations on Trade Board.

The whole solution is fully integrated into Elevēo’s compliance and quality management system.

 

“Elevēo has been able to develop a widget for Trade Board that allows you to play call recordings directly on your phone without having to switch to another PC application. Together with our supplier, Elevēo, this project succeeded in fulfilling the philosophy of Unified Communications.

We aim to broaden the platform further in regard to other communications channels and fully utilize the functionality that the product offers. Thanks to this, we are able to successfully take another step in fulfilling the requirements of compliance and regulations.”

Ondrej Rydl
Head of Treasury Products
Raiffeisenbank a.s

 

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