Covid-19 has made many improvements in the lives and livelihoods of people all over the globe. During this time, communication was the biggest challenge for many businesses. Video conferencing was used by companies to facilitate internal meetings, as it became more difficult to hold physical meetings. Employees began working remotely, indicating the need for innovative communication techniques.

In financial institutions, it was prohibited to use mobile instant messaging apps such as WeChat or Signal. Customers have had to find a way for them to communicate remotely with brokers and traders. Companies are now considering IMs because customers and traders prefer to use mobile messaging apps.

Data and AI: driving the evolution of compliance modelling.

Often, compliance teams have to deal with multi-jurisdictional issues; this is a critical new role for data capture and call monitoring. Clients can use data capture to help them understand their employees and identify their risks. To assess the ability of an employee to manage clients, firms can gather data through conversations.

Customers should request communication methods from compliance teams. They should improve their monitoring and revise their policies. Telegram recording conversations through IMs can help predict the risk pattern and shift the focus to voice AI; this can help communication compliance teams set up protective measures to stop non-compliance issues. One should consider the potential penalty for non-compliance and how this might justify continued compliance investments relatively low compared to actual compliance investments.

Covid-19, the latest in communication conformity

Customers worry about security and clarity in communication. This concerns more than just cultural and geographical factors. Communication channels can be complex and not always linear. A chat is often the first step in business conversations. To move to voice or video calls, clients might need to be clearer on specific topics.

Mobile instant messaging is the best choice, considering all communication channels. Many companies permit employees to use their devices to communicate with clients as part of their BYOD policies.

Employees often have concerns about private conversations for compliance purposes, and TeleMessage has the solution just for that through this infographic.