Custodia has introduced the off-channel CC1 Messaging service to capture and archive employee conversations taking place on their own devices.
The solution gathers conversational data from popular communication apps, such as WhatsApp, Microsoft Teams, and SMS.
Record-keeping violations connected to off-channel communications have resulted in billions of dollars worth of fines, leading many in the financial services sector to look for effective compliance solutions.
Chris Hartley, the CEO of Custodia, said: “Today’s employees want to use their personal devices and preferred apps for communication.
“Simply eliminating these tools from the workplace is difficult and often leads to the rise of Shadow IT.
“The CC1 Messaging service captures messages in the network, prior to reaching recipients, to ensure employees can continue to use the native apps they and their customers prefer, without compromising on embedded governance policies for data capturing.”
Hartley continued:
“With the CC1 Messaging service, we can offer companies a comprehensive way to streamline compliance processes, record information rapidly, eliminate data silos, and improve employee and customer experiences simultaneously.”
CC1 Messaging Features
CC1 Messaging, which is available as an additional service with CC1, has been designed with a “focus on rapid user adoption”.
Custodia lists its key features as including end-to-end data capture, flexible communications, comprehensive control, and preserving employee privacy.
Organisations can gain end-to-end data capture of business interactions on employee devices and native applications while meeting rigorous compliance standards.
Employees and customers can enjoy flexible communications, communicating on any channel, while compliance teams have access to CRM reporting, automation, and routing capabilities.
Companies can take comprehensive control through archiving conversations, blocking sensitive files from being shared, defining content restrictions, and automating alerts.
The CC1 Messaging service also preserves employee privacy by only capturing business communications, so personal communications are left out of its recording and control policies.
On top of these, it also provides an all-in-one solution that allows companies to adhere to regulatory requirements without forcing employees to change their communications habits.
CC1 Messaging also includes a selection of tools that let businesses combine meeting the necessary compliance requirements with text, screen sharing sessions, instant messaging, video, social media, and voice.
Furthermore, Custodia enables businesses to continue using popular platforms, like Microsoft Teams and Webex, and client applications, including WhatsApp and Telegram.
Nathalie Aubry-Stacey, Head of Regulatory Affairs & Compliance at Custodia, said:
“Regulators continue their crackdown on financial firms’ failures in record-keeping regarding employee use of off-channel communications.
“CC1 Messaging service addresses one of the most pressing compliance issues, while maintaining the way they interact with their clients”.
The new service provides real-time blocking, alerting, and data loss prevention, plus masking for employee and customer details.
According to Custodia, CC1 Messaging also gives employees and customers a “natural and seamless experience”.
Companies can also use features within the service to increase productivity through tagging, automatic routing, and follow-up tasks.
Earlier this year, Webex became the first unified communications platform to achieve the EU Code of Conduct Level 3 adherence.
Last month, UC Today’s David Dungay spoke to Hari Asok, Senior Director of Product Management, Smarsh and Shaun Hurst, Principal Regulatory Advisor, Smarsh, about balancing productivity and compliance alongside AI innovations within the finance sector.
