Our Voice
Discover what cloud transformation means, its benefits, and how CWSI helps businesses modernise IT systems and drive innovation through cloud solutions.
Cantor Fitzgerald Ireland is part of the leading global financial services provider Cantor Fitzgerald. The firm’s wealth management advisors serve individuals, corporations, financial institutions and other clients from offices in Dublin, Cork and Limerick.
As a MiFID-regulated entity, Cantor Fitzgerald Ireland is subject to the European Union’s new mobile recording requirements. The firm must record all mobile voice and SMS communications or face costly non-compliance fines and penalties. For CTO David Mitchell, the objective was clear – find a technology solution that makes compliance manageable and cost-effective.
From a field of eight alternatives, Cantor Fitzgerald Ireland selected Movius MultiLine, a cloud-based service that provides a secure mobile line with built-in call and message capture. The MultiLine app works on any mobile device, and the service integrates with archiving platforms for storage and retrieval.
From a technical perspective, MultiLine fulfilled Cantor Fitzgerald Ireland’s two must-have, but hard-to-find functional requirements. First, the solution records at the network level not the device level, which eliminates the risk of people bypassing or turning off the recording function. Second, unlike VOIP-only services, MultiLine records communications over all channels, including cellular voice (GSM/TDM), mobile data and Wi-Fi. This further eliminates compliance gaps because every mobile interaction is captured.
Cantor Fitzgerald Ireland ran a trial with MultiLine in late 2017, which built the firm’s confidence and familiarity with the service. A few months later, when a flood knocked out the telephony system at one of the regional offices, CWSI stepped in with a plan for Movius to handle all voice recording at the site. CWSI quickly onboarded the local staff to MultiLine to minimize interruptions in compliance and client service.
Cantor Fitzgerald Ireland has now rolled out MultiLine to wealth management advisors across all three offices. Each advisor has a mobile number for voice and text messaging with compliant recording built in. Feedback has been positive, with people readily using the service for daily client communications.
From an IT perspective the solution was relatively easy to roll-out, with little integration required with other parts of Cantor’s IT stack and the ability to deploy to all users in a relatively short timeframe. CWSI’s management of the solution means that the internal IT team can leave the day-to-day operation of the platform and on-boarding of new users to CWSI.
Regulators have the final say in whether a compliance solution is effective, but Cantor Fitzgerald Ireland’s CTO, David Mitchell, is confident that MultiLine comfortably meets MiFID II’s mobile recording requirements and the solution’s real value comes from being able to demonstrate quickly, easily and obviously that Cantor are meeting their requirements.
You really need to be able to trust and work with the people you are dealing with. In the case of CWSI and the Movius solution, it’s been easy to move the process along.
One of the reasons for choosing Movius MultiLine is that we believe the regulator would be quite satisfied with how robust it is compared to some of the other options. We also wanted the user experience to be easy and high quality.
Case Study
Case Study
Case Study
