Survey underscores the need for financial firms to embrace social, mobile and collaboration technologies in order to compete and grow
Smarsh released its ninth annual Electronic Communications Compliance Survey Report today. The survey of more than 300 compliance professionals in the financial services industry finds that organizations must rethink their approaches to the adoption, retention and oversight of electronic communications to accommodate modern electronic communication technologies in the workplace, including personal mobile devices.
Key findings include:
- SMS/Text is a leading compliance gap and perceived source of risk. The top perceived sources of risk for survey respondents were SMS/text messaging (77 percent) and collaboration platforms such as Microsoft Teams (36 percent). Respondents also reported compliance gaps in which they lacked archiving and supervision solutions for many allowed popular communication channels, including Instagram (50 percent) and SMS/text messaging (40 percent).
- Use of personal devices is now the standard. Three-quarters (75 percent) of those surveyed allow employees to use personal mobile devices at work. At the same time, 44 percent of respondents lacked confidence that their organizations were capturing and archiving all business communications via allowed mobile devices.
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