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In order to help global customers manage their voice recording and archiving, Orange Business Services - Trading Solutions today announced an integrated voice offering in partnership with Bloomberg Vault.
The collaboration integrates Bloomberg Vault, Bloomberg’s leading cloud-based information management service for enterprise communications, with voice services from Orange Business Services - Trading Solutions to manage data stored by customer-site voice recording systems. Under the partnership, Orange Business Services - Trading Solutions, a leader in voice recording and electronic trading infrastructure in more than 50 countries across 1,300 trading floors, enables the integration of voice data into Bloomberg Vault to produce electronic records in near real-time.
“This partnership will deliver a shrink-wrapped service to financial institutions that solves major voice-recording headaches without incurring huge costs,” said 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.”
Financial services firms need to meet expanded record-keeping and analytics demands globally. Market participants face reporting and record-keeping requirements for transactions, including pre- and post-trade communications relating to a swap transaction such as calls, emails, and instant messages. The increasing breadth and 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.
“There have been significant global changes to regulatory reporting requirements for financial institutions in the past few years,” said Harald Collet, Global Business Manager, Bloomberg Vault. “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.”
The integrated cloud 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. 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 email, instant messages, Bloomberg messaging, mobile, social media, proprietary messaging formats, and now voice records, to produce a consolidated transaction-record mapped to counter-parties.