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Survey: Financial firms looking for communications risks all wrong

Jaclyn Jaeger | October 24, 2018

Compliance professionals in the financial services industry are not keeping pace with their retention and supervision efforts, particularly as a growing, younger workforce relies on expanding, mobile-friendly channels, such as social media and text messaging.

That finding comes from Smarsh’s eighth annual Electronic Communications Compliance Survey Report. In February and March 2018, 191 individuals in financial services with direct compliance supervision responsibilities participated in a 40-question survey designed to identify current trends and to share insight on policies and practices about the usage, retention, and supervision of electronic business communications.

Overall, findings from the survey reveal that evolving technologies and shifting demographics within the workforce, and within firms’ customer bases, are forcing companies to rethink their approach to the adoption and oversight of electronic communications.

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