London, 22nd November, 2010 – Fabric Technologies, a leading London based systems integrator offering voice, data and networking solutions to investment banking and trading organisations, today announced the formation of a strategic partnership with Obsidian Wireless – the market leading provider of mobile phone recording solutions.
The formation of the partnership follows the recent (but long-anticipated) announcement by the Financial Services Authority (FSA) that it is to remove its exemption on mobile phone recording. This was originally granted following the establishment of legislation in 2008 which made the recording of fixed line calls compulsory.
The announcement that the exemption would be removed was made on 14th November 2010 and the FSA has stated that financial services companies have 12 months to ensure their full compliance. All FSA registered businesses must ensure that they are able to record calls made and received on mobile phones in addition to text messages, Instant Messaging, emails and other forms of mobile electronic communication. Recorded information must be retained by companies for a minimum of six months.
Fabric will be offering Obsidian’s Mobile Compliance Suite™, an end-to-end solution which has been developed specifically to help financial services firms comply with both the FSA legislation and EEC privacy laws.
Fabric’s partnership with Obsidian Wireless follows its successes in providing tailored solutions to financial services companies. These include customised deployments of SIP based trading turrets produced by IP Trade – an industry leading vendor who last year recognised Fabric as its Global Partner of the Year.
Fabric also has extensive expertise and a strong track record in providing high frequency trading networks and latency management solutions to financial services firms including, Hedge Funds, Market Makers, Algorithmic Traders and Investment Banks.
Fabric’s Head of Sales, David Redmond comments: “The FSA’s regulations regarding landline recording came into effect in 2008. Mobile phones were exempted until now, simply because the technology was not available. Over the last 12 months, we have tested a number of mobile recording solutions to ensure that they were 100% market-ready, and Obsidian’s Mobile Compliance Suite™ stood out for its ability to record all mobile electronic data – even when a user is roaming outside of the UK.”
Says Redmond: “The solution is the only one of its kind built upon Tier 1 carrier-grade technology and capturing data as well as voice. As such we are fully satisfied that we are partnering with the UK’s leading developer of mobile recording platforms. We are looking forward to working with Obsidian over the coming months to ensure that our clients are fully equipped in readiness for the introduction of the new regulations on 14th November 2011.”
Rachel Lowe, Head of Business Development at Obsidian Wireless added, “We are thrilled to be working with an integrator that has such an excellent reputation in the UK marketplace, one which is backed up by numerous awards from industry leading organisations. Their skills and experience in the trading environment, coupled with their understanding of the infrastructure into which mobile compliance solutions must be integrated, makes them the perfect partner for Obsidian.”
The FSA’s official policy statement provides detailed information about the legislation including a full list of requirements. This can be found on the FSA’s website via this link.
Note to Editors
Thinking laterally and imaginatively, Fabric integrates best of breed technologies, creating business solutions for customers in demanding environments that provide them with competitive advantage.
The company has a strong track record of work across many verticals including finance, legal, professional services and education.
Fabric is a Cisco Premier Partner with Unified Communications Specialisation and also a Microsoft Gold Certified partner.
Key offerings tailored to businesses within the financial services industry include:
• IP Dealerboard Solutions
• Telepresence and Telepresence as a Service
• Financial Exchange Connectivity
• High Performance Networks
• Latency Management Solutions
The company has more than doubled its sales turnover in four years; from £3.6M (FY06) to £7.9M (FY09) and is forecasting strong growth of over 20% for FY10.
Click here to visit Fabric's website.
About Obsidian Wireless
Since 2007, Obsidian Wireless has aimed to become a leader in the field of mobile compliance and has an impressive record for innovation. In developing its world-class solution, Mobile Compliance Suite™, the company has continually engaged with the market and with regulatory bodies, enabling it to continually evolve its technology based on their feedback. This means that, at a time of changing industry legislation, Obsidian is able to offer organisations the most comprehensive suite of mobile compliance solutions available in the market today.
Obsidian Wireless was formed by experts from both the mobile and the financial industries. As a result, its understanding of the technical aspects of mobile compliance, and also of the environments into which these solutions will be deployed, is unparalleled. Obsidian has a Board structure of formidable talent and achievement, which includes Atul Devani as Non Executive Chairman and Rupert Walsh as Non Executive Director. Its head office is in the City of London and it has global partnerships throughout Europe, Asia, Africa and the USA.
About Mobile Compliance Suite™
Mobile Compliance Suite™ enables the recording of mobile electronic communication in a fully compliant manner, to ensure that users adhere to market regulations and also meet FSA, MiFID and BSI0008 standards. It is designed for organisations in the financial services industry, as well as other regulated sectors and organisations - where mobile communication can potentially create risk for an individual or an organisation. MCS™ has been designed to enable mobile compliance by extending existing devices, infrastructure and methodology - whilst ensuring the minimum of interference or inconvenience to either the organisation, its users, or to those with whom they communicate.
For more information, please contact Nick Hardy:
Tel: 0207 841 6752
This press release was distributed by ResponseSource Press Release Wire on behalf of Fabric Technologies in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.