Theta Lake Blog

Regulatory Perspectives From Theta Lake

Posted by Stacey English on Oct 3, 2022 6:45:00 AM

How to Comply With the New CMS Communications
and Marketing Requirements for Medicare
Advantage and Part D Conversations

Read More

Topics: compliance, healthcare, record-keeping, electronic communications, archiving

Movius and Theta Lake announce partnership to solve WhatsApp and SMS compliance

Posted by Anthony Cresci on Jul 26, 2022 7:58:35 AM

With a series of enforcement actions totaling about $1 billion in fines from the five biggest US investment banks, the SEC has made it clear there will be significant financial consequences if firms don’t start policing the use of communications channels, specifically the increasing use of SMS text and messaging apps, like WhatsApp, in their workforce.The seismic shift towards heavier enforcement comes after a warning was issued last October by the SEC that firms "need to be actively thinking about and addressing the many compliance issues raised by the increased use of personal devices, new communications channels, and other technological developments like ephemeral apps."

Clearly regulatory bodies have served notice - and the race is on to not only comply, but balance productivity gains with increasing regulatory scrutiny. How can firms avoid the worst case scenario of fines and sanctions (and resultant bad PR) while also not disrupting their mobile workforce and lastly, minimize complexity in their mobile/IT infrastructure?

IT: Caught in the middle between business and compliance requirements

Recent regulatory enforcement efforts describe only part of the story when looking at the current state of governance and the hybrid workplace. Two years after the start of the COVID-19 pandemic, it's clear that “work from anywhere” is here to stay for the foreseeable future. Like many industries, financial services firms have been looking at ways to more effectively engage and support their clients on their preferred channels, which includes SMS and WhatsApp. The real-time communication has enabled increased productivity and richer interactions but has come at a cost. Those firms are now grappling with how to provide WhatsApp, and related services, but in a controlled manner and balanced with a strong focus on compliance, security and corporate IT standards. Users have also made it clear that they will alternate the personal use of technology with their work efforts. The days of carrying two different mobile devices, like cowboys with two holsters, are in the rearview mirror.

Legacy approaches to supporting sanctioned WhatsApp usage do not fit the current hybrid workplace. Tools that can’t capture the full spectrum of WhatsApp services – WhatsApp Voice, SMS and Mobile Voice, while also protecting the fidelity and context of the conversation for compliance purposes, can add more complexity, and another set of challenges to the ones firms are already facing today. For mobile communications compliance, the challenge is having a comprehensive capture solution for all employees’ mobile and modern communication platforms and archiving them in one central location. This solution also needs to be able to be deployed across all users effectively and efficiently at an administration level, while ensuring personal communications are separated from business communications.

The need for mobile productivity with integrated compliance and security are not oppositional- and shouldn’t require making tradeoffs. It's clear that we can’t ask users to retreat and sacrifice productivity gains that will put the organization at a competitive disadvantage.

Introducing our partnership with Movius

Read More

Topics: compliance, supervision, electronic communications, WhatsApp, SMS, mobile voice

Theta Lake Series B Funding!

Posted by Devin Redmond on Mar 23, 2022 3:00:00 AM
We’re so proud to be able to announce Theta Lake’s $50 million series B funding round led by Battery Ventures and including new investors RingCentral Ventures, Salesforce Ventures, and Zoom Video Communications, Inc.  This round also includes fresh investments from existing investors Lightspeed Venture Partners, Neotribe Ventures, and Cisco Investments, and brings our lifetime funding to just over $70 million.
Read More

Topics: funding

Fintech, regtech and the role of compliance in 2022: Challenges arising from technological opportunities

Posted by Susannah Hammond on Feb 8, 2022 5:00:00 AM

Digital transformation has been a fundamental enabler for financial services firms. It is hard to underestimate the opportunities and regulatory benefits firms can derive from the implementation of technological solutions but maximising their potential can present challenges. Thomson Reuters Regulatory Intelligence's sixth annual survey and report on fintech, regtech and the role of compliance explores these challenges, particularly in the context of corporate governance and risk management.

Read More

Topics: compliance, regtech, supervision, monitoring, return to work, regulations, communications

Redefining Compliance in the Modern Workplace - A recap of 2021

Posted by Rosa Lear on Jan 24, 2022 10:00:02 AM

It is undeniable that how we communicate in the workplace has been forever changed. With over 83 percent of organizations not leveraging all the capabilities of their collaboration platforms, including Webex, Microsoft Teams, Zoom, Slack, and more. Our team has played an integral role in advancing collaboration platforms and empowering organizations to securely embrace these platforms to maintain daily business operations.    

Read More

Topics: survey, return to work, communications

10 Predictions for 2022: Communications, Collaboration, and Compliance

Posted by Stacey English on Dec 15, 2021 9:04:45 AM

The last two years have brought tremendous change, forcing us all to adapt and adopt technology, processes, and initiatives to stay connected virtually in an era where live interaction has been mostly restricted. The communication and collaboration market was front and center in making this possible.

Read More

Topics: compliance, predictions, surveillance, electronic communications, communications, collaboration

Cryptocurrency Detections in Video, Voice, Chat - More than just keywords

Posted by Marc Gilman on Oct 26, 2021 8:30:00 AM

To say that cryptocurrency has been a hot topic in financial services of late is a massive understatement. Coinbase announced (via Twitter, natch) that it submitted an application for registration as a Futures Commission Merchant under NFA and CFTC rules. However, the enthusiasm around Coinbase’s FCM announcement was likely offset by the withdrawal of its proposed interest-bearing Lend product after concerns about its security-like features prompted preliminary interest from the SEC. In other regulatory developments, the emergence of technologies for vetting and tracking digital assets for anti-money laundering and know your customer purposes are advancing rapidly. Look no further than MasterCard’s acquisition of CipherTrace as evidence of an increasing focus on transactional activity tracking and the lightning fact evolution of more mature AML/KYC processes for blockchain-based and other digital currencies.

Read More

Topics: compliance, video conferencing, cryptocurrency, detections

Examining Recent Collaboration and Chat E-comms Compliance Guidance from ESMA, FCA, FINRA, SEC

Posted by Marc Gilman on Oct 19, 2021 10:20:23 AM

It’s clear that the flexibility regulators including ESMA, the FCA, FINRA, and the SEC offered financial services firms around the relatively unfettered use of modern collaboration and chat tools like Zoom, Microsoft Teams, and Webex by Cisco during the pandemic has come to an end.  No action relief issued at the outset of COVID-19 has expired, and regulatory missives in the second half of 2021 indicate a marked change of tone and expectations for firms using dynamic communication platforms.

Read More

Topics: compliance, chat compliance, surveillance, monitoring, regulations, electronic communications

Your Agenda for Enterprise Connect 2021

Posted by Rosa Lear on Sep 21, 2021 7:15:00 AM

 

Read More

Topics: video conferencing, zoom, Microsoft Teams, Event

Financial Services Compliance and Coverage for Zoom - Zoomtopia Recap

Posted by Rosa Lear on Sep 16, 2021 3:29:55 PM

If you didn’t have a chance to attend Zoomtopia this year, there’s still time to watch the sessions as all are available on-demand. Theta Lake was a sponsor of the show and is a long-time partner of Zoom, offering its users the ability to leverage every aspect of the platform and have full coverage for security and compliance across those communication channels.

Read More

Topics: compliance, partner, data leakage, regtech, zoom, supervision

Comment Here
Content not found

Theta Lake provides security and compliance for modern collaboration platforms using frictionless partner integrations with Cisco Webex, Microsoft Teams, RingCentral, Slack, Zoom, and more. Using patented machine learning and NLP, Theta Lake detects risks in: video, voice, chat, and document content across what is shared, shown, spoken, and typed. Those risks are surfaced in an AI-assisted, patent-pending review workspace that adds consistency, efficiency, and scale for security and compliance teams. All of this enables organizations to safely realize the full ROI of a collaboration-first workplace while reducing the cost of security and compliance.

www.thetalake.com

Subscribe here to stay up to date!