Societal changes in 2020 have pushed many businesses into a work-from-home culture. For regulated financial services firms, this creates a new regulatory challenge for risk and compliance optimization.
As traders take up office at home, there’s a hazard of sensitive information falling outside the scope of protected systems with communications and transactions potentially occurring on personal devices and accounts.
It’s a significant enough concern that the SEC issued a risk alert.
Couple all of this with the regulatory challenges around voice technologies. FCA, Dodd-Frank, and MiFID have requirements for customer call recording. With remote workers, steps are probably necessary to optimize voice recording compliance.
Immutable storage for voice calls
HubStor partners with Cloud9, Red Box Recorders, TruPhone, and Microsoft to provide WORM-compliant immutable storage of voice calls, with rich call metadata and transcription. HubStor addresses the following in regards to legal compliance of voice calls.
- Voice call metadata storage
- Transcription and search of voice call metadata
- Legal hold and automatic retention of voice calls
Voice call metadata storage
HubStor’s integration allows voice call recordings to flow into HubStor’s cloud storage platform automatically from the voice recording application with complete metadata integrity.
Voice calls have a broad set of metadata fields. HubStor persists the metadata into blob storage along with the voice call files. Voice call metadata can be used in HubStor for scoping criteria within data management policies such as retention periods, classification, storage tiering, and transcription.
Transcription and search of voice call metadata
Additionally, HubStor indexes voice call metadata so that each attribute type becomes a searchable field for discovery searching.
Search results can be export, added to a case, placed on legal hold, and saved to public or private folders for collaboration with other reviewers. HubStor allows discovery users to customize the metadata columns shown in the search results. And an inline media player allows for fast playback without needing to download voice call files in the browser.
Legal hold and automatic retention of voice calls
Organizations that need to recover voice calls and meet WORM storage compliance have a challenge on their hands because the voice call recording applications generally do not support storage immutability, legal holds, and WORM retention periods.
As a customer, if your voice recording app is in your datacenter, you can elect to use any NAS storage for the implementation. However, if the app is SaaS based or running in a private cloud, you do not have this level of control. Either way, you will probably need a third-party archive platform to satisfy the WORM storage requirement.
Managing long-term retention of voice calls and satisfying the requirement for tamper-proof storage is simplified by HubStor. Built-in legal hold and WORM retention period controls allow you to preserve data and then expire items automatically at the end of their lifecycle.
HubStor’s WORM storage policies for automatic retention of voice calls support the following methods of retention periods:
- Event-based – a specific event can trigger the stamping of a final retention period on items meeting a query.
- Based on last modified date – a retention period set in years, months, or days can be applied to items based on last modified date criteria.
- Based on archival date – a retention period set in years, months, or days can be applied to items based on last modified date criteria.
- Based on exact date – a retention period set as a specific can be applied to items based on last modified date criteria.
Voice call compliance solution planning
If you need to figure out a storage, compliance, and discovery solution for your voice call records, consider speaking to a HubStor technologist. We have a growing client base using HubStor for this requirement and have developed integrations with key partners in the field, including migration partners that can help you exit legacy on-premises voice recording products.