RED BOX RECORDERS COMPANY INSIGHT
Nature of Business: Red Box Recorders is a global provider of voice and data recording solutions that solve often technical and complex business challenges in the most simple and effective manner possible. This ensures that financial services organisations are not only fully compliant, but can also become more competitive, productive and efficient.
Locations: Headquartered in Nottingham Red Box has regional offices that now include London, New York, Singapore, São Paulo, Dubai and Bucharest along with a worldwide reseller network of more than 200 partners.
Markets that we operate in: Europe, Middle East, Asia Pacific, North America and South America
Contact Information: www.redboxrecorders.com
Key Executives: Lee Jones – Lee became CEO this year following a management buy-out having previously held roles as COO and Sales Director. He has more than 25 years working in the voice and data recording industry and is currently responsible for strategic development, international sales, marketing and operations.
Company background: The history of the organisation can be traced back to 1988 when Origin Data Realisation Limited was launched as an outsourced software development business. The company was responsible for developing the frame-based recording engine that powered Racal Recorders flagship voice recorder.
Red Box Recorders itself was founded in 2000 to build and market Origin Data’s already successful range of voice recorders and software, which had previously been sold under license by some of the leading voice recording vendors of the 1990s.
Red Box has since become one of the most established and fastest growing voice and data recording businesses achieving annual growth of more than 20 per cent for the past five years. As a leading and independent industry specialist, the company is recognised as a technology innovator challenging traditional boundaries and providing solutions that embrace fresh and forward thinking.
CSR activities: Red Box is extremely aware of its ethical, social and economic responsibilities, which it also believes are integral to its business success. The company aims to demonstrate these responsibilities through its actions, its corporate policies and its dealings with third parties whom it demands have a similar approach to ethical and sustainable business.
Since being founded, Red Box has conducted business in over 100 countries and to date has not been involved in any legal proceedings related to bribery or corruption. The company is committed to maintaining the highest ethical standards and therefore welcomes the Bribery Act 2010 and fully support its goals and aspirations.
In addition, the company has put in place robust internal guidance (based on the UK Ministry of Justice Guidance March 2011) and risk assessment policies to minimise the risk of the company, its suppliers or employees becoming involved in any form of bribery and corruption.
Products and services offered: Red Box’s innovative and proven software enables the capture, authentication, analysis and evaluation of multimedia communications from a wide range of data sources including fixed-line and mobile calls, radio, screen, SMS, instant messaging and social media.
Red Box Quantify Recording Suite is a user-friendly and intuitive voice and data recording software solution that is suitable for companies and organisations of all sizes. It can be tailored to meet precise customer requirements with a wide range of functionality including Quality Management, PCI Compliance, Call Management and Billing, Event Reconstruction and Audio Analytics.
Importance to the financial services sector: Red Box’s voice and data recording solutions enable regulatory compliance, support critical business processes and aids cleaner financial markets by deterring market abuse. Already trusted by some of the leading financial services organisations worldwide, the technology is proven to record and store all communications from multiple sources across a wide range of platforms on trading floors in investment banks and brokers.
Complying with regulation is key for the financial markets, so it is essential to stay on top of understanding the latest regulations to ensure that any products are always ready to assist with the latest requirements. In fact, Red Box works with all leading dealerboard and telephony vendors to deliver extensive and fully integrated solutions for compliance recording. The most significant piece of legislation recently to affect the financial markets is the Dodd-Frank Act, which has the most extensive requirements yet for call recording and record keeping.
Recent customers and projects: Red Box has become a valued technology partner for an increasing number of financial services organisations both in the UK and globally. As a result, the company now works with four of the world’s top ten banks, as well as all the leading global brokers.
Scotiabank, the Canadian-based bank providing a complete range of retail, commercial, corporate, investment and international banking services, recently appointed Red Box as its preferred partner for call and data recording for its Scotiabank Trading floors. As a result, the Quantify Recording Suite will be implemented at eight locations and a total of 1,200 channels to ensure regulatory compliance across the bank’s trading operation.
Elsewhere, Bank of Thailand extended its call recording solution with Red Box to ensure high levels of compliance within the organisation. The Red Box Quantify Recording Suite integrates seamlessly with the bank’s telecommunications infrastructure to record its Cisco IP telephony platform and Etrali trading turrets. This follows the installation of a system in 2011 at the Bank of Thailand’s central contact centre in Bangkok, responsible for handling enquiries regarding governance guidelines for banks and financial institutions.
Bank of China has also teamed up with Red Box to provide advanced voice recording solutions at two offices in Hong Kong and Singapore. Under the agreement, Red Box developed and implemented the systems to ensure the bank meets all regulatory compliance for the recording of transaction related fixed line communications undertaken by its team of traders at each location.