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Choosing a VoIP solution for financial institutions is not like picking software for a small business.Banks,credit unions,and fintechs need systems that balance security,compliance,scalability,and integration with legacy tools.Here’s a framework to make the right choice.
Step 1:Verify Security Credentials
Financial VoIP systems are prime targets for cyberattacks,so security is non-negotiable.Look for solutions with:
-End-to-end encryption(TLS 1.3 for signaling,SRTP for voice streams).
-Certifications like ISO 27001,SOC 2,and PCI DSS(critical for handling payment-related calls).
-Intrusion prevention(e.g.,Redstone’s brute-force protection and IP whitelisting).
Step 2:Ensure Regulatory Compliance
Regulations vary by region—your VoIP system must adapt.For example:
-In the EU,it needs 7-year call retention(MiFID II)and in-region data storage(GDPR).
-In Singapore,MAS TRM requires AES-256 encryption and local disaster recovery.
-In the U.S.,FINRA Rule 3170 mandates 3+year recordings and FIPS 140-2 compliance.
Redstone’s NewLync 2.0 offers region-specific compliance modules to meet these needs.
Step 3:Assess Scalability
Your VoIP system should grow with your business.Can it handle 100 users today and 10,000 tomorrow?Redstone’s modular design supports easy scaling—add extensions,trunks,or branch locations without overhauling the system.For example,Bank of China(Malaysia)expanded from 300 to 540 users seamlessly with Redstone’s RGW gateways.
Step 4:Check Legacy System Compatibility
Most financial institutions use legacy PBX systems(NEC,Avaya,Cisco).A good VoIP solution should integrate with these to avoid costly hardware replacement.Redstone’s NewLync 2.0 supports SIP/MGCP protocols and open APIs,enabling smooth interoperability—like how the Shanghai Stock Exchange integrated it with Huawei U1981 during their upgrade.
Step 5:Evaluate Support for Hybrid Infrastructure
Banks often use a mix of on-premises,cloud,and hybrid setups.Your VoIP system should thrive in all.Redstone offers flexible deployment:physical servers for strict compliance,public cloud(AWS/Azure)for cost savings,or hybrid models for balance.
By focusing on these factors,financial institutions can select a VoIP solution that meets current needs and adapts to future challenges.
Redstone Systems, Inc. founded in Delaware, USA in December 2002, has been the ODM vendor for many well-known communications companies, serving the Southeast Asian market. In 2020, Redstone Systems will begin to return to the North America market with its self-developed brand.
Redstone has a complete product line of intelligent voice gateways, providing IP-PBXs, analog VoIP gateways (FXS/FXO), digital VoIP gateways (E1/T1), border appliances, and session boundary controllers (SBCs).
With advanced technology in digital signal processor (DSP), speech coding and speech processing, as well as efficient operational tools such as cloud remote management, auto provisioning, Redstone gateways are widely used in markets of enterprise communications, cloud communications, call centers, operators’ IMS/SIP trunks, bringing users friendly, efficient and reliable communication experience.
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