With end of life for Skype for Business Online set for July 2021 and enterprise adoption of Microsoft Teams
continuing to grow, compliance teams must find a reliable way to record collaboration sessions. At the same time, financial institutions must address regulatory requirements focused on collaboration platforms. These include FINRA’s 2020 exam priorities in the U.S. and the FCA’s Senior Managers Regime in the U.K., each of which will require compliance personnel themselves to perform recordkeeping, supervision, and reporting of best-effort compliance monitoring.
Given the current need to leverage collaboration and remote working in an unprecedented way, firms and financial institutions should look for new ways to leverage Microsoft Teams while keeping up compliance and risk standards. Theta Lake’s AI-based compliance suite for Microsoft Teams scales compliance capabilities for the expanding scope and increasing volume of business communications that regulated companies must record, review, and be able to retrieve based on increasing regulatory requirements.
First, the Theta Lake solution provides full capture, archiving, and compliant recordkeeping of messages and all content shared within the Teams collaboration app. It is the only in-market solution that can cover both one-to-one and group chats to adhere with FINRA, SEC, and MiFID II recordkeeping requirements while providing a native, fully threaded viewer of Teams chat with built-in chat risk detection identification.
Second, Theta Lake provides a full supervision solution that provides natural language processing and machine learning-based automated detection of potential compliance and data leakage risks in messages and shared content (documents, images, videos).
Third, compliance teams have access to an AI-assisted review space plus traditional search and eDiscovery capabilities. From this review space, they can run efficient searches through all communications in a native, fully threaded view. In addition, they can prioritize risk identification to streamline compliance and legal reviews as well as support integrations with enterprise data repositories that may require captured content.
Lastly, Theta Lake now offers Compliant Collaboration Archive (CCA), the industry’s first free, SEC Rule 17a-4-compliant archive for Microsoft Teams. CCA features 100GBs of free storage, with AI-based supervision, automated risk detection, and additional storage available for purchase.
Theta Lake adds Microsoft Teams coverage to an already robust portfolio of integrations, such as Realtime Compliance Advisor (RCA). Theta Lake’s RCA provides real-time risk alerting, education, and reporting that can help financial institution avoid risky behavior and non-compliant activity when using Microsoft Teams.
