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TMCNet:  Qumram Upgrades Social Media Surveillance Tool to Deliver the World's First Truly-Compliant WhatsApp and WeChat Recording

[September 11, 2017]

Qumram Upgrades Social Media Surveillance Tool to Deliver the World's First Truly-Compliant WhatsApp and WeChat Recording

Qumram, the pioneer in RegTech, risk management, customer engagement and analytics, has extended its social media surveillance solution to enable fully-compliant mobile-to-mobile WhatsApp and WeChat conversation recording; regardless of the location and devices of either party, and despite end-to-end encryption.

Previously, employees wanting to communicate compliantly via messaging platforms including WhatsApp, WeChat, Facebook (News - Alert) Messenger, Skype, and LinkedIn, had to access their social media channels via a company computer. Qumram is the only firm able to deliver seamless and transparent social media recording.

Qumram records every digital interaction (web, social, mobile), and replays them on-demand. The movie-like replay displays every motion, mouse movement, click and swipe, exactly as the customer or employee saw it. Financial institutions governed by global regulations (e.g. SEC (News - Alert), FINRA, MiFID II, ESMA, Fidleg, FFSA) gain a complete digital audit trail, along with analytics that deliver deep customer experience insights.

This ground-breaking solution will be demonstrated at FinovateFall NYC (September 11-14) and in a webinar "Truly-compliant WhatsApp and WeChat Surveillance: Seeing is Believing" on October 11. Register here

Patrick Barnert, CEO at Qumram, commented: "Social media is a financial services blind-spot. Firms routinely record voice and email communications, and believe they are compliant. However, MiFID II requires all relevant e-communications to be recorded, including websites, client portals, mobile apps, and social media. Those who have left it late to address MiFID II digital record-keeping compliance are under great pressure to source a compliant social media recording solution before January 2018."

"Many employees already use instant messaging tools like WhatsApp and WeChat to communicate with colleagues and customers; they are breaching compliance every day," continues Barnert. "Financial institutions have three choices: do nothing and continue operating at risk, ban social media usage and risk client loss, or source a compliant solution. Most are choosing the latter."

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About Qumram (www.qumram.com)


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