SOURCE: CTI Group (Holdings) Inc.

November 11, 2010 14:30 ET

CTI Group Calls on Financial Industry to Embrace the FSA's New Mobile Call Recording Regulations

International Call Recording Specialist Says the New Call Recording Regulations Are Designed to Protect Financial Institutions From Rogue Trader Activity Within Their Organization

LONDON--(Marketwire - November 11, 2010) - CTI Group (Holdings) Inc. (OTCBB: CTIG), an international provider of enterprise communications management software and services, carrier class voice over internet protocol (VoIP) management applications, enterprise and carrier class call recording solutions and electronic invoice processing and management (EIM), has called on the financial industry to embrace the UK's Financial Services Authority's (FSA) announcement regarding the recording of traders' cell phone calls. The FSA announced this morning that from 14 November 2011 all relevant conversations "made with, sent from or received on mobile phones" must be recorded and stored for a period of six months.

By adhering to the rules and deploying a robust call recording solution, CTI Group believes that financial institutions will have protected themselves from liability for fraudulent activity. This is because responsibility for any illegal insider activity, where the individual circumvents the call recorder, will be attributed to the employee concerned and not the firm.

Furthermore, call recording offers a number of added value services including training, performance monitoring, business continuity and dispute resolution which help to optimise business management processes.

Charles Rich, CTI Group's Sales Manager for the Global Financial Markets, commented, "In 2008, when the FSA originally proposed the recording of all voice and electronic communications, with the exception of mobile phones, in a bid to tackle market abuse in the financial sector, it was met with criticism. However, its new proposals to remove the mobile phone exemption should be viewed positively as a risk management measure that will protect financial institutions from potential rogue traders in their midst.

"Furthermore, a number of our clients are already taking advantage of the added value business intelligence and optimisation benefits of utilising mobile call recording and other call monitoring tools. These benefits include network cost monitoring, staff training, dispute resolution and speech analytics, which allows organizations to analyze calls as they happen, to monitor trader activity and performance as well as identifying vital customer trends.

"A network-based recorder offers the most effective recording solution with an infinitely higher level of security than a recording device that sits on a handset. By having the call recorder on a network -- and not on an individual's handset -- control of what does and does not get recorded lies with the organization and not the employee.

"As with any mobile application, a device-based recorder can simply be deleted by the user. A network recorder will therefore remove much of the corporate liability by placing responsibility for any fraudulent activity that does occur on the employee and not the institution.

"In addition, a network recorder provides the most cost-effective solution. This is because a call recorder that sits on the network does not require the expenditure on recording infrastructure or the costly re-routing of calls that would accompany device-based recording tools."

CTI Group's network-based call recorder, SmartRecord, has been designed with the scalability required to meet the exact needs and budgets of organizations of any size in any location. SmartRecord comes standard with speech analytics and is available integrated within our Proteus Trader call accounting solution, which is already used by the majority of financial institutions within the City of London.

Charles Rich can be contacted on +44 (0)20 8763 3800 or crich@ctigroup.com. For further information, please visit www.ctigroup.com.

About CTI Group
CTI Group (Holdings) Inc. is an international provider of electronic invoice processing and management, enterprise communications management software and services solutions, and carrier class voice over internet protocol (VoIP) management applications. CTI Group's SmartBill®, SmartRecord® and Proteus® product suites offer a full array of solutions for traffic analysis, post-billing call analysis, customer care and call recording.

CTI Group's products are used by some of the top service providers in North America and the United Kingdom, and play a trusted role in managing telephony costs at major corporations internationally. Headquartered in Indianapolis, CTI Group maintains overseas offices in London and Blackburn, UK. For more information, please visit CTI Group's website at www.ctigroup.com.

Safe Harbor Statement
This release may contain "forward-looking" statements. Examples of forward-looking statements include, but are not limited to: (a) projections of revenue, capital expenditures, growth, prospects, dividends, capital structure and other financial matters; (b) statements of plans and objectives of CTI Group or its management or Board of Directors; (c) statements of future economic performance; (d) statements of assumptions underlying other statements and statements about CTI Group and its business relating to the future; and (e) any statements using the words "could," "should," "anticipate," "expect," "may," "project," "intend," "will," "believe" or similar expressions. CTI Group's ability to predict projected results or the effect of events on CTI Group's operating results is inherently uncertain. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those discussed in this document. These factors include, but are not limited to: effects of current economic crisis, ability to attract and retain customers to purchase its products, ability to develop or launch new software products, technological advances by third parties and competition, ability to protect the Company's patented technology, ability to obtain settlements in connection with its patent enforcement activities and risks described in CTI Group's annual report on Form 10-K for the year ended December 31, 2009. Readers are referred to documents filed by CTI Group with the U.S. Securities and Exchange Commission, including the Form 10-K for its most year ended December 31, 2009.

Contact Information

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