ASC Technologies today announced its neo recording suite will help to meet the needs of global financial institutions participating in EU member states under MiFID II (Markets in Financial Instruments Directive). A new section of MiFID II requires complete and secure documentation and storage of customer consultations, whether by phone, chat, email or in person.
The implications of the new regulation, effective as of January 2018, are wide ranging and will impact all financial institutions participating in EU member states. ASC's documentation system provides individual and works council conformal access rights, flexible redundancy scenarios for the highest reliability and state-of-the-art encryption mechanisms to fulfill MiFID II regulations.
Marco Mueller, Chief Operating Officer of ASC, said, “An extended period of planning is often necessary to properly fulfill MiFID II guidelines. Organizations can differentiate themselves from the competition by doing so in advance with ASC’s recording solution.”
MiFID II aims to facilitate a safer and more transparent financial system by enhancing regulatory requirements, market transparency and investor protection. ASC’s recording systems are especially designed to meet these goals in a fail-safe manner, thus ensuring business continuity.
The neo recording suite creates a stable working environment ideal for mission-critical applications. When the recording suite is combined with the analytics solution INSPIRATIONneo for Compliance, financial institutions can automatically search for critical content and protect themselves from liability in the process.