In 2007 the company launched two new applications in the year: VoxTalk, which offered companies significant cost savings on international mobile calls, and VoxConference, which simply enabled conference calls from a mobile phone. Work also began on a carrier agnostic, software product to enable financial services firms to record calls from BlackBerry handsets on their existing in-house call recorders.
VoxSmart launched VoxRecord ahead of the UK’s Financial Services Authority’s plans to introduce compulsory mobile recording for traders.
The VoxRecord application was considered cutting edge and used 3-way calling to connect trader’s calls to a recording service or an existing in-house recorder.
Commercial deployment of VoxRecord accelerated across City of London and began to spread to other markets and sectors both in the UK and abroad. A second version of service was developed, VoxOnDemand, that allowed users to trigger recording during a call.
The international roll-out of VoxRecord gather pace with the company winning significant business in the Asia Pacific market. As the UK’s regulations evolved, VoxSmart was at the forefront of mobile voice recording providing what was seen as the only solution that would deliver full regulatory compliance.
This was a milestone year as the UK’s deadline for for companies to comply with the new regulations approached and Voxsmart became the undisputed global market leader.
VoxSmart continued to invest in R&D, creating the VoxSmart Control Centre (“VCC”) to offer improved mobile estate management including disaster recovery and improved information management.
In early 2011 the fully regulatory compliant VoxRecord application packaged with VoxLog was augmented by the development of the VoxRecord Control Centre web based application.
Not stopping there and utilising the VoxRecord 2.0 technology VoxSmart developed an on-demand variant VoxOnDemand 2.0.
At the beginning of 2012, working closely with their existing customer base, VoxSmart developed and released VoxRecord 2.0. This provided a significantly enhanced user experience and very quickly became the solution of choice for Mobile Call Recording in the domestic and global financial market.
The UK-led regulatory environment began to spread globally in 2013 – particularly to the US which announced the Dodd-Frank Wall Street reforms.
Recognizing this evolving global regulatory landscape VoxSmart began to develop VSmart™, a next generation solution to meet the requirements of a global client base. VSmart had to be globally deployable, carrier network independent and handset agnostic. It also had to offer a seamless user experience and provide scalable cloud storage accessible within seconds.
The solution had to be; globally deployable, carrier network independent and handset agnostic as well as offer a seamless user experience and scalable cloud storage accessible within seconds. VoxSmart named this next generation solution VSmart™.
VSmart™ was made available to early adopter clients at the beginning of 2014. In addition, VoxSmart created a global VOIP infrastructure to support the new solution and deliver guaranteed levels of service.
In November VoxSmart released the full VSmart solution across all Android and Blackberry 10 handsets on any mobile network worldwide – instantly becoming the most widely compatible, fully regulatory compliant system in the world.
This year saw multiple international deployments of VSmart™ across Europe, North America, Asia and South Africa. Voxsmart also continued to significantly develop the core platform adding features such as advanced (real-time) speech to text transcripts and visual voicemail. The company also worked on additional functionality within the next generation patent pending VSmart Control Centre (“VCC”).
VoxSmart also began the development of a market leading ‘safeguarding’ tool for trading firms to mitigate against risk related to errors, compliance failures and trade breaks. This new tool will significantly enhance productivity and safeguard both employees and organisations against trading losses.
VSmart was also recognized by Banking Technology Magazine winning its best mobile solution award.
The worldwide roll out of VSmart™ is gathering pace ahead of the introduction of the European Union’s MiFiD II legislation. These new regulations will make the recording of telephone conversations and electronic communications in the financial services sector mandatory across all 28 European Member States.
This legislation will succeed and strengthen the UK’s current regulations and will be unaffected by the Brexit decison. Voxsmart is continuing to enhance the end to end VSmart solution to support important changes that will be introduced under MiFiD II – including the requirement to retain recordings for (at least) five years and to record face-face client conversations.
VoxSmart was founded in January 2006 to market and license a mobile conferencing solution called MultipartyTalk to mobile carriers. It signed its first major customer that year, Starhub in Singapore.