Skype For Business Hybrid Solution – Complying With MiFID II Regulations
Who are Impax?
Impax Asset Management is a specialist asset manager with offices in London, Hong Kong and three US offices. Impax Asset Management are experienced at investing in the opportunities arising from the transition to a more sustainable global economy.
As of August 2018, Impax have £12.6bn assets under management and advice
Impax Asset Management strives to provide a collaborative and supportive work-place for its staff, and to make a contribution to the development of a sustainable society, particularly by supporting or undertaking relevant research and engaging or collaborating with others.
Darren Johnson, Chief Operating Officer - Listed Equities
“With Cisilion’s experience in the Financial sector, they were able to articulate and understand our challenges. Their solution is dynamic, so it can change as we hit future regulatory hurdles.”
Before engaging with Cisilion, Impax Asset Management had underutilised Skype for Business licences and a perfect storm of requirements with fixed deadlines that included:
• A Major Regulation Change
Impax Asset Management required a solution to comply with MiFID II, the largest realignment of regulatory legislation in the European financial sector for over a decade, requiring that the content of all transactions – including calls – are recorded.
• London Office Move
Moving to a new location combined with a drive to utilise desk space by moving away from physical handsets.
With underutilised collaboration licences and strict deadlines approaching, Impax Asset Management had the following challenges:
- Required a hybrid Skype for Business platform with integrated call recording to meet strict FCA and MiFID II regulations
- Fixed deadlines for regulation changes and office move
- Physical handsets being phased out to utilise desk space
Solution – Skype for Business
Cisilion leveraged our Microsoft Gold Partner status to deploy a Skype for Business hybrid solution that made efficient use of Impax Asset Management’s existing licences and through our partnership with TeleWare, ensured that all call recordings are seamlessly sent through to Bloomberg Vault to comply with FCA and MiFID II regulations.
Impax Asset Management are now able to utilise the full functionality of Skype for Business, including video calls and conferences that fully comply with regulations. This has also led to the desired increase in office desk space through removing the need for physical hand-sets.
Through the hybrid Skype for Business solution, Impax Asset Management were able to achieve significant business results including:
- Bespoke solution meets specific requirements
- Agile solution can evolve to meet future regulatory hurdles
- Increased desk space in London office
- Significant cost savings through utilising video conferencing
Geoff Larkin, Programme Manager
“We chose Cisilion because they gave us a lot of confidence during the selection process that they were able to meet the tight time requirements we had for the project."