In the very fast-paced Financial industry where employees are spread out across multiple locations, keeping them connected with each other and informed in real-time can be very challenging. That is why mobile messaging apps have become a critical tool for financial organizations to ensure that they are meeting the evolving communication needs of their workforce.
By implementing the right mobile messaging platform, communication between employees will be more efficient and easier, considering that most people nowadays carry their smartphones with them all the time. Not only that, but they will also be able to provide faster services to their clients, which can benefit the business’ bottom line for the long run.
One of the most popular messaging tools being used in many financial companies nowadays is Whatsapp. Thanks to its end-to-end encryption and group messaging features, this tool has enabled many financial advisors and broker-dealers to communicate securely and more effectively. However, despite its benefits, it also presents potential compliance risks to financial organizations which are required to comply with a plethora of data protection and recordkeeping requirements from FINRA, SEC, MiFID II, and GDPR.
Whether your employees are using WhatsApp to collaborate with their colleagues or to engage with their clients, you need to ensure such app is being utilized in compliant with the existing text archiving requirements from financial regulators. To help you navigate this process easier, here are the key takeaways of the infographic from TeleMessage, which details the tips to compliant use of WhatsApp in the financial sector.
1. Understand how WhatsApp impacts your employees.
2. Identify the issues and risks of using WhatsApp.
3. Ensure your employee’s buy-in to WhatsApp archiving.
4. Invest in a solution that can capture WhatsApp chats.
Learn more about these tips by checking out the full infographic below.
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