A survey published Oct. 20, 2021, by collaboration security provider Theta Lake, revealed that corporate leaders are struggling to restore decorum and compliance on collaboration platforms. The report, titled “Modern Communications Survey Report: The Survey and Compliance Risks of Collaboration Tool Usage in Financial Services,” found 83 percent of 100 executives surveyed are disabling collaboration features to protect sensitive data and maintain regulatory compliance, according to Stacey English, director of market intelligence at Theta Lake.
English asserted that collaboration tools are vitally important to industry leaders today and will continue to keep business communications flowing across digital and hybrid workplaces. “Adhering to compliance and security requirements with these new communication types, especially for financial services and other regulated industries is proving a key concern and challenge,” she said. “This report sheds light on that challenge and key areas for risk management, as well as providing a roadmap for organizations to continue scaling collaboration tools usage while meeting compliance needs.”
Devin Redmond, founder and chief executive officer at Theta Lake agreed, stating that organizations frequently bring “an email mindset” to collaboration technology. “With regard to balancing compliance with collaboration, there’s no one size fits all, but producing a set of procedures, rules and expectations, coupled with technology oversight, can help monitor and enforce those norms,” he said.