Why Whatsapp Compliance

Instant messengers have become the defacto messaging platform nearly obliterating plain old simple SMS . Employees of Any regulated enterprise for instance FSI, a private bank, commodities trader or trading firm are forced to use it for business, at peril of non-compliance and losing there jobs. Depending on the sector, geographic location laws of data retention may vary but more or less all business interactions are to be recorded for compliance.

Use cases are not limited to simple compliance, for legal purposes to avoid lawsuits from unhappy clients or to avoid million dollar fine from regulators. A seamless client interaction on WhatsApp or any instant messenger is need of the hour.

Client relationship on non-Intrusive instant messenger rather than unread ignored old email or intrusive voice call has more value than realized in past.

No point telling advantages of WhatsApp or who is using it, as we all are on WhatsApp or any other instant messenger, but if use of Instant Messenger can be made legal on trading floor or in private or retail banking by using of new simple tech that is exciting news.

DBS bank has done something similar in Singapore with help of FinChat and done a press release on the same.

Whatsapp Compliance