Financial firms all around the world are still continuing their operations despite the recent pandemic. Even if they work from home or remotely, some of these firms actually have the technology to support their core operations. However, not all firms are the same as many are still having trouble maintaining the records of their employees’ communication, which are needed for compliance purposes. Some of these firms are also using familiar communication channels to communicate like WhatsApp, but we all know that the end-to-end encryption systems of these channels are not good for compliance.
Financial firms are now tasked to find the right solutions so that they can retain their messages and use them for any internal investigations in the future. Organizations that use mobile phones should know how they can record voice calls and other mobile messages the right way. Without these features, the chances of some staff members committing fraud unchecked are high. So, what are some of the ways that this retained information can be helpful?
First of all, investigators can identify relevant data using subject names, dates, and keywords. When accessing archived communications, internal investigators can use subject names, data, and specific keywords to look for the data that they need in their investigation. With these retained data, they can narrow down their search and have an easier time. With this data, you can also maintain records at a set schedule.