Wells Fargo (NYSE: WFC) has reportedly acquired a stake in Theta Lake, an established provider of compliance and security solutions for chat, video, and voice collaboration tools.
Theta Lake aims to support the hybrid working trends that are becoming quite popular, especially after the COVID outbreak. Many more employees have been splitting their time between working from the office and from the comfort of their homes.
These professionals need modern collaboration tools so they can effectively communicate with colleagues and their business clients. Theta Lake has partner integrations with more than 40 vendors. They include Cisco Webex, Microsoft Teams, RingCentral, Slack, and Zoom – enabling compliance teams to gain archive access to video, voice, chat, and documents (shared during collaborative online sessions).
Theta Lake has now joined with 28 other portfolio firms that are part of the Wells Fargo Startup Accelerator, which mainly focuses on supporting emerging technologies that can enhance financial services.