Fabric Technologies is aiming to be one of the first resellers to cash in on new legislation requiring finance firms to store recordings of mobile calls, instant messages and text messages.
The Financial Services Authority (FSA) concluded a consultation on gathering data from mobile phones earlier this month. Financial services firms are no longer allowed to conduct ‘relevant communications’ via private mobile phones.
All messages and voice calls from business mobiles and PDAs must now be recorded and stored for six months. Finance firms have a year to comply.
The consultation’s conclusion said: “This is the most practical and proportionate way to implement recording requirements and should allay most industry concerns about associated privacy issues.”
Fabric specialises in serving the financial sector and recently inked a partnership with mobile recording specialist vendor Obsidian wireless.
Fabric’s head of pre-sales Alistair Sergeant claimed the legislation could be a “massive opportunity” for the channel.
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