Communications Monitoring

Artificial Intelligence (AI) has been the focal point in discussions around innovation for many years, to the point where it is easy to be complacent when listening to how it will transform a sector. However, firms cannot afford to skip out on the latest advancements within AI as its rapid innovation is transforming the way we operate.

A recent study from Theta Lake, a pioneer in digital communications governance, found that 69% of IT and compliance professionals expect the use of unified communication and collaboration (UCC) tools to increase in 2024. With firms using an average of 4.6 communication and collaboration tools, it is evident that UCC tools have become an embedded and essential part of modern business, but firms must ensure they are compliantly getting the full value of these tools.

The current communication monitoring landscape is a ‘wild west’, and firms need to ensure their processes are nimble so they can adapt to new and evolving communication channels.

Organizations are increasingly leveraging cloud-based unified communications (UC) platforms, ushering in a new era of collaboration.

2023 was a pivotal year in digital communications governance. In the US, regulatory bodies imposed hundreds of millions in fines, extending their reach from banks to broker-dealers, investment advisers, and credit rating agencies. Similar actions were observed in the UK, with regulatory bodies sanctioning banks and fining firms for non-compliance in trading communications.

The Central Bank of Ireland recently conducted a Conduct Risk Assessment of Telephone and Electronic Communications in the securities market. This crucial assessment aimed to evaluate compliance with the Markets in Financial Instruments Directive (MiFID II), especially Article 16(7), which mandates firms to prevent the use of unauthorised communication.

Theta Lake's collaboration with Zoom, which started in 2018, has been pivotal in elevating compliance and security standards for Zoom’s unified communications (UC) platform.

The landscape for Payment Service Providers (PSPs) is rapidly evolving, with a pressing need to scale operations effectively while managing Anti-Money Laundering (AML) compliance...

The realm of forms management is currently witnessing a significant turning point. With the increasing demands of customers and employees, companies are constantly striving to maintain technology costs whilst introducing in-house solutions.

The wave of recordkeeping enforcement actions in the finance sector has now expanded to brokers, investment advisers, and credit rating agencies. Leading this charge are the U.S. Securities and Exchange Commission (SEC) and the Commodity Trading Futures Commission (CFTC).