In this mobile-first era, the increased utilisation of cellular phones for business purposes triggered modern difficulties. It has weakened security and posed cybercrimes, decreased productivity due to online distractions, diminished user experience caused by network connectivity problems and device performance limitations, and hindered legislative compliance for monitoring laws.
Consequently, the Markets in Financial Instruments Directive (MiFID II) and Financial Industry Regulatory Authority (FINRA) modified several policies to tailor to the mobile-first era and diminish mobile circumstances, such as SMS (Short Message Service) archiving.
But how is archiving SMS a solution for these emerging modern problems in the mobile-first generation?
Adaptiveness
The SMS archiving solution continuously evolves to align with today’s mobile-first era and eliminate all the challenges financial companies face.
Cross-platform compatibility is one of its many great features, enabling software applications to work with multiple platforms or operating systems. It is advantageous, considering it allows interoperability.
Another functionality that made SMS archiving solutions adaptive is its real-time archiving. Monitoring text messages is now less challenging as it is already functioning during the conversation between two individuals, making it even user-friendlier.
Data Security Measures
SMS archiving solutions employ various procedures to ensure data security and privacy:
- Encryption enables storing SMS conversations before storing them on the device or cloud and decompiling them only when authorised users access them.
- It has secured access controls with authentication mechanisms and audit logs to monitor who can view, edit, or delete the archived message.
- Capability to delete the archived message after a specified period or when it has already served its purpose in the financial firm.
Final Thoughts
While the mobile-first era has posed challenges that trigger conflict in compliance and business work operations, financial sectors have implemented SMS archiving solutions to hinder these conflicts. The implementation of this legislation has helped maintain compliance and data security. Hence, financial firms must guarantee to adhere to these regulations to remain transparent in the industry and grow their business.
LeapXpert is a well-known company that has manufactured an adaptive and transformative business communication to make your archiving solutions easier. They have been in the industry for 40 years and have earned their client’s trust as they have proven the company has earned their consumer’s specific needs and expectations.
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