Global mobile network Truphone recently announced that it has received a couple of contracts with two major financial institutions based in the United States to provide its “Truphone Mobile Recording” solution, which it acquired when it purchased Obsidian last year. The fully app-free network-based solution will enable those banks to comply with Dodd-Frank legislation, which “mandates that financial institutions record certain electronic communication and phone calls, and maintain necessary audit trails”.

Communications are then stored on a “highly resilient” cloud-based storage and retrieval system, where they can only be obtained when needed to comply with the law.

“Our unique mobile telecoms infrastructure enables Truphone to help the global financial community address the emerging challenges of mobile recording regulatory compliance,” said Paul Liesching, CEO of TruObsidian Ltd. “We are delighted to have been selected to provide this important service to such highly valued customers and we look forward to supporting them.”

Truphone is planning to roll out Mobile Recording beyond just the UK and the US to an additional 6 countries in 2013 and a further 8 countries in 2014.