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Summer Journal

Volume 31, Issue 2

Full Contents Now Available!

Wednesday, 16 May 2018 14:40

Incorporating New Technologies Into Your Archiving To Meet MiFID II, GDPR Requirements

Evolving Communication Tools Pose New Challenges for Security

Banks aren’t strangers to reining in their employees’ use of communications tools. However, the methods preferred by customers and client reps continue to change, and if banks don’t keep up with these rapidly changing tools, even those that have made a massive investment into a compliance infrastructure over the years may find themselves struggling with regulatory compliance.

In regulated industries such as financial services, it is common practice to set boundaries for employee use of communications tools. With these restrictions in place, banks protect themselves from allowing sensitive information to be shared egregiously, at the same time working to remain in compliance with bookkeeping regulations. As new communications tools continue to be introduced and used by customers, banks must adapt their client engagement practices while continuing to avoid accruing fines.