About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Truphone Provides Solace For Industry BlackBerry Users

Subscribe to our newsletter

The business world, and particularly the financial industry with its stricter security needs to protect trading communications, has not been as quick as consumers to give up on BlackBerry, but has also needed a way to retain SMS text message communications.

Last week’s launch by mobile network and mobile recording provider Truphone of its SMS recording service for all devices, including Android and iPhone, makes it easier for financial firms to cope with the decline of BlackBerry, while retaining the same level of security, as Paul Liesching, global head of financial markets at Truphone, explains.

“Enterprise security measures have been applied as a secondary consideration and as a result the ability to record SMS has been overlooked — and difficult or impossible to apply retrospectively,” he says. “The only way to record Apple SMS is from the core of the network. It is possible to record Android SMS but only via an application which is difficult to support and manage — and can potentially be circumnavigated.”

In a manner similar to Apple SMS texts only being possible to capture from a core of a network, Truphone controls its own global mobile network, and therefore can capture SMS texts at the core of that network, according to Liesching. As a result, it does not matter what smartphone handset is being used.

Aside from the ability to archive SMS texts that concern trading or transactions for a firm’s internal purposes, regulations require recording and storage of all such communications, Liesching notes. The UK’s Financial Conduct Authority and the US Commodity Futures Trading Commission have such rules, and the European Union’s upcoming MiFID II regulation contains similar provisions.

“Because all financial institutions have been BlackBerry users, SMS communication has been recorded by default,” says Liesching. “When these organisations move to Android and Apple, their compliance departments require continuity of record keeping and therefore need to continue to record SMS.”

Truphone officials said at the time of the launch that a US Tier 1 investment bank had signed on to use the service.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Addressing conduct risk: approaches to surveillance

Conduct risk in financial services is a critical area that requires vigilant monitoring and robust surveillance mechanisms. Regulatory bodies, (FCA, FINRA and others) have tightened their scrutiny and financial institutions must adopt advanced approaches to effectively manage and mitigate conduct risk. This webinar will examine the latest methodologies and technologies used to address conduct risk,...

BLOG

Finastra’s Summit Wins Best OTC Derivatives Trading Solution at A-Team Group’s TradingTech Insight Awards Europe 2025

Finastra has been named the winner of the Best OTC Derivatives Trading Solution at the A-Team Group TradingTech Insight Awards Europe 2025. These prestigious annual awards recognise excellence in trading solutions and services, highlighting vendors that deliver outstanding trading infrastructure, technology, and data solutions to capital markets participants across Europe. Finastra’s OTC Derivatives Trading Solution,...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...