WhatsApp Compliance Monitoring
Continuing to build on their strong presence in the Financial Services arena and the growth of their Communications Compliance portfolio, DoubleEdge have partnered with Telemessage to provide a compliant WhatsApp recording service to financial firms both in the UK and worldwide.
The increasing popularity of WhatsApp among traders, brokers and other regulated individuals has been causing a major headache for Compliance departments. Under MiFID II, Dodd-Frank and SYSC 10A regulations, to name just a few, firms need to ensure that all relevant communications are recorded.
With its end-to-end encryption, however, WhatsApp poses a challenge. And then, for firms with Bring Your Own Device policies, there’s GDPR…how do you record people’s WhatsApp chats on their own personal phones without falling foul of data protection laws?
Some companies, prepared to take the resulting hit on productivity, have simply banned WhatsApp use through policy.
However, Telemessage’s WhatsApp Archiver solves these problems. While it looks and works exactly like the standard WhatsApp application, with the same interfaces and capabilities, it allows all messages to be captured and archived, along with any multimedia communications and attachments. All communications are UTC time-stamped, tamper-proof and easily searchable.
For employees using personal devices, a second number can be used for their enterprise WhatsApp account so that all personal messages remain strictly private, while business WhatsApp communications are all captured and securely archived in accordance with regulatory requirements.
DoubleEdge Managing Director, Steve Burges, states “from conversations with our clients, it’s become increasingly clear that recording WhatsApp for compliance has become a real pain point, particularly among commodities traders and brokers where WhatsApp is proving to be especially popular. This relationship gives us yet another way to help our clients solve their problems and bring more value through innovation.”
Any firms looking for a way to compliantly capture and archive WhatsApp communications can obtain further details and arrange a free trial by contacting DoubleEdge at firstname.lastname@example.org or calling 020 3869 2442.