Regulatory compliance is a critical focus for modern enterprises. And no where else is this felt than compliance teams at financial institutions (FI). Challenged by ever-increasing volume of communications, teams must also expand compliance frameworks to account for new technologies like unified communications & collaboration, and how these conversations take place.
Services like Zoom and Webex have are now foundational as a part of today’s work environment, with Synergy Research Group projecting a 60% growth in spending on team collaboration apps—the fastest growing unified communication market segment. Rolling out collaboration chat to employees for both internal and external communications offers financial firms productivity gains.
But with this sudden adoption, operational challenges have become exceedingly complex as businesses have continued to modernize and grow. As a result even regulators are struggling to keep pace with increasingly complex collaboration applications. Recently, FINRA’s “2019 Report on Examination Findings and Observations,” recently clarified how these services fit in and relates to record keeping guidelines.
But it also raised questions about where video falls into ecommunications.
Read the entire article by Theta Lake CEO Devin Redmond on Forbes