COMMUNICATIONS technology specialist TeleWare has launched its products in the US in a move triggered by new legislation.

The Thirsk-based business, which employs 75 staff at its office in York Road, has developed recording technology in response to mobile call compliance criteria in the financial services sector.

TeleWare’s SIM based solution captures all mobile phone communications, helping banks and financial institutions comply with the increasing number of regulations around recording and storing mobile phone calls.

According to the business, currently one in three banking and financial services companies in the UK’s FTSE 100 use TeleWare and clients include financial services companies and blue chip nationals and multinationals.

Now TeleWare has launched the product in the United States under its global financial compliance division TW Global. The technology designed and created in Thirsk directly meets the regulatory demands of the encroaching Dodd-Frank Act, which is due to come into effect in America on December 21.

Steve Haworth, chief executive of TeleWare said: “We are incredibly proud of what we have achieved over the last two years in the financial market place.

“Having grown to now be the largest player in the UK we are following the market as regulation increases around the world.

“This month we have expanded into New York ahead of new regulation impacting the US market. We will keep an eye on markets elsewhere as further opportunities present themselves.

“Our heart and headquarters will always remain in Yorkshire”.

The continuing roll-out of the Dodd-Frank Act necessitates banks to record and store all trade related communications for a year.

Mr Haworth said: “Some banks have reacted by banning mobile use for trading, but that isn’t realistically an option.

“In today’s connected world not all business is done at your desk. For businesses to ensure they are 100 per cent compliant they have to find another solution, otherwise face fines that go into the hundreds of millions, loss of reputation or even loss of operating licence.”

Mark Miller, US general manager of TW Global, added: “The SIM based solution has now been set up for US markets. TW Global has developed partnerships to allow the service on US carriers which provide a simple, non-intrusive solution with no change in user experience.

“The solution is global, based on TW Global network that spans multiple countries, with more being added, delivering a compliance solution fit for today’s global trading environment.”