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.
The financial sector is currently under significant scrutiny regarding off-channel communications. With violations leading to penalties in the billions, it is imperative for the industry to adopt strategies that ensure compliance and mitigate potential penalties.
Custodia’s newly introduced CC1 Messaging service, integrated with the main CC1 platform, offers a comprehensive solution for efficient user adoption. The service ensures thorough data capture in alignment with strict compliance standards. It facilitates communication between employees and clients across various channels while allowing compliance departments to utilise enhanced CRM reporting and automation.
The platform also archives all business-related conversations and provides robust control mechanisms to prevent the sharing of sensitive files. A notable feature is its capacity to differentiate and protect personal communications from business interactions.
Chris Hartley, CEO of Custodia, commented on the evolving nature of workplace communication. “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 both they, and their customers prefer, without compromising on embedded governance policies for data capturing.”
Augmenting the robust features of the primary CC1 service, the new Messaging service provides a unified solution, facilitating companies to maintain their communication practices while achieving compliance. With the secure tools provided by CC1, businesses can capture data across a spectrum of platforms and continue operations on established platforms such as Microsoft Teams, ensuring integration with popular client applications.
Nathalie Aubry-Stacey, Head of Regulatory Affairs & Compliance at Custodia, shed light on the pressing compliance issues. “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 service additionally offers vital features such as real-time notifications, active data loss prevention, and the protection of personal details to meet GDPR standards. Companies can leverage these features to ensure a seamless experience for employees and clients, maintain data compliance, and bolster their overall productivity.
Concluding, Hartley highlighted the service’s comprehensive nature, “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.”
Custodia’s flagship CC1 service captures an extensive range of communication data. This data undergoes real-time validation and reconciliation, ensuring unwavering compliance. The service allows for the extraction of valuable insights, meeting regulatory standards. Custodia, an ISO 27001 certified entity, has also marked its presence in the Microsoft Azure Marketplace.
Keep up with all the latest RegTech news here
Copyright © 2023 RegTech Analyst
Copyright © 2018 RegTech Analyst
