NEW legislation surrounding mobile phone records in the financial sector is underpinning a three year growth plan for a North Yorkshire technology firm as it looks to treble turnover beyond £30 million.

Thirsk-based Teleware is seeing its global customer base grow in line with new laws being introduced across the world to monitor financial trading.

As banks and financial institutions find themselves having to record communications, Teleware is on hand to provide its bespoke solution, born out of more than 20 years of telecommunications expertise.

The group, which employs a team of 85 staff, originally started life as a software developer, providing programmes for remote working using phones out of the office.

As mobile technology developed, so did Teleware, creating its own mobile networks, before incorporating its own software, which included voice and data recording, into a mobile platform.

Steve Haworth, chief executive of Teleware, said: "As regulators across the world are making call recording on mobile phones obligatory in financial services, were have seen our turnover grow by 40 per cent.

"It's been about getting the strategy right, utilising more than 20 years of experience, but also a bit of luck in having the right product ready at the right time."

The growth in that sector has seen Teleware launch as sales office in London, followed by a New York office in April this year, which is due to go live with its first customer this month.

Mr Haworth said: "We're on a three year growth plan and want to see our turnover of £10.4 million treble while adding another 20 staff to the team.

"We want to push expansion in the US, and really role out around the financial bases around the world, so will be targeting France, Germany and Spain in Europe as well as Hong Kong, Singapore and Japan in Asia."

As the product takes off in the financial industry Teleware is targetting other markets for growth.

Mr Haworth said: "There's other areas that this kind of technology sits hand in hand with. We're looking at the legal sector for evidence record keeping, for the health care sector in terms of staff safety when working remotely, and for telesales in terms of call monitoring and training."