Client Instant Access Solutions That Can Integrate With Your CRM
When the Markets in Financial Instruments Directive II (MiFID II) takes effect on January 1, 2018, financial services firms with offices anywhere in the EU will need to comply with its requirements.
The Challenge of Supervision and Compliance
As part of MiFID II, firms providing investment advice or portfolio management will no longer be able to accept any type of benefit – monetary or not – from third parties in relation to client service, due to the real or perceived conflict of interest such as payments can create.
Firms offering research services will need to properly document all communications in order to properly charge for services. However, many firms are struggling with the requirement to supervise employees’ communications for compliance. MiFID II is clear that organizations will need to take a risk-based approach to capture and supervising not only written communications but also voice calls.
Solutions Designed to Help Firms Comply
Complying with MiFID II is not optional. Fortunately, Client Instant Access (CIA) has tools that can help.
Integrated CRM Dialer
Firms that use CIA’s Integrated CRM Dialer tool are able to demonstrate compliance because the tool captures more than just who was called and when the call occurred.
In addition to creating efficiencies and enhancing professionalism, a CRM Dialer allows callers to keep notes for each call. Firms can use these notes to document the substance of the call, helping substantiate determinations about whether the discussion was research-related or not.
Blast Voice Mail
CIA’s Blast Voice Mail solution can also help firms comply with MIFID II by using our intuitive web-based tool to record and send pre-recorded messages. Because the content of such messages is preserved, it’s easier for firms to confirm their compliance with the rule’s mandates.
Integration with Your CRM
Both the CRM Dialer and Blast Voice Mail solutions integrate with the most popular CRMs in use by financial services firms today.
This means that call activity is automatically tracked, and that even large-scale voice message blasts can be mapped into your CRM and tracked.
Whether your firm uses Salesforce, Tier One, Single Track or another CRM, both CRM Dialer and Blast Voice Mail solutions from Client Instant Access can integrate directly with your CRM – helping you meet the requirements of MIFID II by tracking communications and substantiating your firm’s communications between firms offering research and firms paying for such services.
To learn more, contact CIA today online, or by calling (888) 226-9075.
This MiFID II related article outlines charging for Research.
One of the main focuses of MiFID II is tracking research that must be billed to clients. Using the Client Instant Access CRM Dialer system accurately tracks the time spent releasing research information. The Client Instant Access CRM Dialer tracks the name of the prerecorded message left or the length of a live conversation. Our system stores the name, company, Ticker symbol and any notes relating to a contact. This allows for administrators to easily sort lists by company or Ticker for proper reporting and charge backs.
CIA’s Integrated CRM Dialer helps you redefine the way you communicate while empowering yourself to become more efficient and organized. The system is easy and ready to help you take your business to the next level. Watch the video to learn more. Here’s how it works:
Features:
Managing Call Lists
Take Call Notes
Create and leave personal greetings before you drop a message
Drop a message and move to the next call.
Manage voice messages
Share messages with your entire team on the CIA system
Send a message out to all your contacts at one time
Powerful services from Client Instant Access will help brokers comply with Europe’s new financial legislation
Recently, the European Commission revised legislation that regulates firms who provide services to clients linked to financial instruments, including shares, bonds, and derivatives. Known as Markets in Financial Instruments Directive 2 (MiFID 2), the regulations represent a widespread change for the financial industry. The primary intent of MiFID 2 is to reduce systemic risk and to ultimately guarantee more robust investor protection.
Brokers and investment professionals must change the way they communicate and interact with investors and re-examine how they operate in different markets. Ultimately, MiFID 2 means that there will be a far more competitive environment for analysts to navigate.
Client Instant Access provides powerful and intuitive solutions to these changes. The Integrated CRM Dialer allows financial firms to execute efficient client outreach through its click to dial feature. Our CRM Dialer ensures that the analyst will make contact with the investor, either by speaking to them when they pick up or by leaving a prerecorded voice message with an option to add a personal message.
Analysts have reported higher success rates using voice services rather than text platforms to get their message across. Client Instant Access also has a transcript and reporting services for Blast Voicemail, the CRM Dialer, and Conference Calling, providing analysts the transparency that the MiFID 2 requires. Brokers that want an edge choose Client Instant Access because they are able to give their investors a personal touch and convey their research efficiently and clearly.
Since 1997, Client Instant Access has worked with some of the most prominent banks on Wall Street, including Goldman Sachs, Wells Fargo, and Morgan Stanley. It is now poised to attract some of the most prominent European banks. In 2015, Client Instant Access secured Barclays PLC as a client. In an increasingly competitive international market, Client Instant Access expects to see an influx in international customers, particularly in Europe.
Banks and capital markets institutions responding to
The Markets in Financial Instruments Directive (MiFID) II legislation is fast approaching. Just about every large Bank and Capital Markets Institution has started preparations. It is critical that any organization have a thorough understanding of the impact on operations and a clear plan for implementation. By far the largest impact will be on the technology component and how a solution can be implemented.
We found the articles listed below helpful and worth reading. Client Instant Access is ready to assist clients with powerful and intuitive solutions to meet these required compliance changes. Ask us about our MiFID ready compliance solutions, such as our Integrated CRM Dialer and Blast Voice Mail.
