Communications Monitoring

Custodia, a preeminent provider of regulated digital data services, has announced the launch of its CC1 Messaging service. This pioneering off-channel communications compliance tool is designed to capture and archive conversations from employees' personal devices on prominent platforms such as WhatsApp, MS Teams, and SMS.

In the past few months, both the SEC and CFTC have targeted numerous Wall Street firms for extensive recordkeeping oversights. This resulted in eye-watering penalties surpassing $1.5bn. Both major and minor firms should anticipate that this assertive enforcement will remain unrelenting.

A new survey by Shield and LeapXpert underscores the continued risk financial institutions face from unmonitored communication channels. Only 51% of the financial institutions surveyed are currently monitoring employee communications on WhatsApp, a popular messaging platform.

Trade and communication surveillance platform SteelEye has partnered with Enfusion, an investment management SaaS platform, to support joint clients.

LeapXpert, which stylises itself as the responsible business communication pioneer, has netted $22m for its Series A+ funding round.

Theta Lake, a leader in collaboration compliance and security solutions, has partnered with visual collaboration platform Mural.

 SteelEye, which claims to be the first and only integrated surveillance solution, has integrated ChatGPT into its compliance platform.

UK firms could be the next to face greater regulatory scrutiny and fines for off-channel trading communications, according to a survey by Global Relay.

Unified communication tools have transformed how businesses communicate, but they come with greater compliance challenges. Theta Lake director of global marketing Gareth Landers believes the business benefits of unified communication tools outweighs the challenges.

Hybrid work has split teams across multiple locations, but teamwork and collaboration are still the core of any organisation. The speed information can be shared across an organisation can make or break the company.