Revista Systems, a provider of communications convergence management (CCM) technology to the financial services community, has opened its doors in the UK. The company’s CCM solution creates a record management repository that links every transaction relating to enquiries and trades, from inception to settlement, and plays into the record retention requirements of Markets in Financial Instruments Directive II (MiFID II).
Revista CCM is available as a private cloud or Software-as-a-Service (SaaS) solution, and is appropriate for both buy- and sell-side firms. It is non-disruptive and designed to integrate with existing communications infrastructure, and to structure and link communications metadata to trade enquiries. CCM links and tags all relevant voice, intercom, hoot, mobile, chat and other electronic mediums via an intuitive user interface.
With MiFID II compliance approaching fast, Revista says CCM gives surveillance and compliance teams a solution that improves transaction communications scrutiny. It offers a range of options from micro-service deployment to multi-channel integration, while its applications programming interfaces (APIs), automation and customer relationship management (CRM) integration reduce manual intervention, accelerating regulatory compliance.
Revista is headed in the UK by Umesh Patel. He says: “Under MiFID II, although yet to be confirmed, it is very likely that financial firms will only have 48 hours to provide complete evidence of all communications relevant to any business or trading transaction that is under investigation. This applies equally to both internal and external interactions. Without Revista’s comprehensive linking and tagging capabilities this is very difficult to achieve, and currently it’s highly likely very few firms would be able to comply with this non-negotiable, time-sensitive demand.”
Revista Systems is a subsidiary of Melbourne-based CSF Capital, a family firm led by serial entrepreneur Andrew Robinson. Robinson, co-founder and executive chairman of Revista Systems, says: “We are already engaged in conversations with a number of financial institutions and encouraged by the genuine interest these have generated.”