9 Essential when looking for Microsoft Teams recording

Are you using Microsoft Teams today, or are you thinking of using it? 

A fast and unified communications platform like Microsoft Teams has become a must-have in today’s businessworld – especially if we look at the banking and financial industry, contact centers, and call centers. All these industries are obliged to comply with various regulations, and some of these regulations refer to the way a firm communicate, and how those communications are recorded, kept, and archived.  

Consumers also expect that firms are at least multi-channel in their strategy when communicating externally, and this complicates processes for firms like the banks, trading floors, and asset managers, because regulations like MAR, GDPR, MiFID II etc. dictates that all communications are recorded.  

Therefore, you need to have everything in order when using a unified communications platform like Microsoft Teams in your organization. In this article you will find the 9 most essential must-haves for Microsoft Teams compliance recording. 

Learn more about the new Microsoft Teams integration here

1: Comply with all applicable regulations. 

Unified communications platforms like Microsoft Teams combines chat, calling, virtual meetings, screen sharing, video, collaborations, and other features in one single application. You must understand how to achieve complete compliance, before rolling out Microsoft Teams or any other application like it to a part or the entire set of employees. Some of them, if not all of them, might be heavily regulated by authorities and other regulating bodies like the FSA and SEC. 

In some cases, it is not enough to simply record the communications, you must also take reasonable steps to retain and keep the recordings for the dictated period and be able to provide investigation records and trade reconstructions to regulators or clients on request or demand. Furthermore, you might only have 72 hours to provide these compliance records. In addition, you also need to monitor 100 % of some employee’s communications for market abuse and intent reasons, and proof of compliance. 

To deploy a unified communications platform like MS Teams you need to get a few things down first. 

  1. Understand how your employees communicate. 
  2. Find out how the above harmonize with your broader compliance setup. 
  3. Choose a recording platform which can record and reproduce all communications in a reliable way. 
  4. Make sure that the compliance recording platform can integrate with other compliance and surveillance platforms to make sure all regulatory demands are met. 

2: Go for a platform that can handle all compliance recordings. 

You should consider a platform that can handle and manage all the required compliance recordings, to make it as easy and streamlined as possible. We are not just talking about handling all unified comms platforms in one solution, but also turrets, mobile phones, desk phones, soft turrets, and social media. 

Having one compliance recording hub has several benefits: 

  • Cut down on costs related to support and maintenance. 
  • Require your compliance officers to work in one platform which makes it easier for investigation purposes. 
  • Apply unified capturing, archiving, and retaining rules across all communication channels. 
  • Set up workflows for efficient ownership and processes. 

3: Go for the highest quality. 

There is absolutely no room for error when it comes to financial compliance recording. Nothing is more important than ensuring that all communications from regulated employees are recorded all the time, because an error can be very damaging. Do not settle in this matter, go for the solution that is 100 % compliant with all regulations, directives, and laws that are applicable to you. 

4: Find a compliance recording solution which is scalable and flexible. 

The world is changing, and so are your business. It is a constant and a variable at the same time, and you need to make sure you are ready for changes in the requirements for compliance recording whenever your business or the world around it is changing. A compliance recording platform that is scalable and flexible will make your business agile and ready for change. 

5: Behavioral Models. 

Using a compliance recording platform with pre-made behavioral models will analyze and surveil human behavior, their motivation and intention-patterns pro-actively and constantly, will make your compliance recording work much more streamlined, accurate, and fast.

6: Security-first approach. 

Deployment of any technology, like a unified communication platform such as Microsoft Teams, must have a security-first approach. The Microsoft Teams platform is built on the Office 365 hyper-scale, enterprise-grade cloud, are providing the advanced security and compliance capabilities the users are expecting – and not expecting. Microsoft Teams is Tier D-compliant and enforces a company-wide two-factor authentication, single sign-on through Active Directory, and encryption of data in transit and at rest. 

7: Localized platform. 

You need to look for a compliance recording platform that can record in your preferred languages, accents, and dialects. Some compliance recording platforms only focus on the “big” languages and neglect the smaller local languages. Makes sure all your preferred languages are supported in the platform you choose. 

8: Trained and skilled personnel. 

A compliance recording platform is in many cases only as good as the personnel operating it. Be sure to get the utmost out of the platform by training and developing compliance, operational, and legal personnel to operate it and maximize the potential and securing compliance. 

9: Partner with an experienced and expert-level partner. 

Getting the compliance recording platform and the unified communications platform is one thing but setting it up so it harmonizes with your business, develop it along the way, and constantly making sure it is the best fit for you is another thing. Ensure that you find a business partner that is ready to guide you and assist you in achieving total compliance. In TM Group you find that! Get in touch with Emil Holmberg and have a talk about the challenges you are facing, and the possibilities for solutions we can provide you within compliance recording and Microsoft Teams Recording.

Do you want to know more about Teams recording? Fill out the form bellow and we will contact you as soon as possible.

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