Serving clients for more than 50 years, Tupicoffs is Australia's leading independent financial planning practice. With the commitment to unbiased advice, Tupicoffs prides itself on delivering exceptional service with a drive for impeccable compliance.
One standard the company pursued in the past decade was to record all investment discussions as a method to capture thorough file notes. Tupicoffs knew that, rather than taking written notes, the recordings would provide complete details on what was discussed if an issue ever occurred. The result was many hours of audio and video conference recordings that grew exponentially and was challenging to review.
“We had all these Zoom video and phone recordings, but they required us to spend more than the full duration of the recording to review them thoroughly including pauses and note taking. We had the archived recording history, but we didn't have any sort of overview or review workspace. This made it difficult to assess the recordings, determine how things were going, or if we were recording the wrong things,” said Neil Kendall, Certified Financial Planner with Tupicoffs.
Given the increasing volume, even reviewing representative sample percentages of the recordings would have required hiring additional staff, which was cost prohibitive for the company. As the business grew, the problem escalated, so Tupicoffs needed to pursue an approach that would provide a smarter and better way to manage the recording supervision process.
Finding a Solution
After assessing other vendors that only solved parts of the firm’s supervision problem, Tupicoffs chose Theta Lake’s Security and Compliance Suite because of its end-to-end capabilities for ingestion, analysis, review, and archiving of dynamic communications data from Zoom’s phone and video meeting products. Theta Lake’s AI-enabled capabilities for analyzing all of Tupicoff’s digital content to detect regulatory, privacy, conduct, and security risks across what was typed, said, shown, and shared tipped the scales in the decision-making process, providing a truly modern technology application to manage complex communications data.
“With Theta Lake, we satisfied our record keeping and archive objectives in a tightly integrated way for Zoom, and then went far beyond that baseline requirement. We saw that adopting it for our review workflows and bringing our compliance manager up to speed was a simple and seamless process. Plus, all of the automation capabilities it provides made it so that we could honestly do more without increasing costs,” said Kendall.
To find out why Tupicoffs selected Theta Lake as its security and compliance partner for its modern collaboration platforms and the results of that implementation, click here.
