Making BYOD Possible in Today’s Highly Regulated World
Financial services firms looking to implement a mobile strategy today face a number of challenges. While mobility has created important opportunities to increase employee productivity and customer engagement in financial services, mobile communication on personal devices has introduced new challenges, including security concerns around secure messaging and voice calls, increased regulatory scrutiny and the need to maintain regulatory compliance.
This becomes even clearer when an array of compliance mandates and regulatory agencies confront your organization such as SOX, FINRA, GLBA and the Dodd-Frank Act in the U.S.; FSA and FCA in the U.K.; and MiFID II in Europe, to name a few.
These laws are hard enough to navigate in the wired world, but when transferred over to the mobile domain they become even more challenging, especially when firms decide to implement Bring Your Own Device (BYOD) programs. And, lack of attention to mobile communications such as text messaging can expose firms to compliance risks, specifically those unable to address archiving.
I recently wrote an article for The Fast Mode, formerly PCC Mobile Broadband, which outlines these challenges and discusses how financial services firms shouldn’t let these manageable obstacles prevent them from achieving BYOD bottom-line and competitive benefits.
If you’re doing nothing about BYOD, recognize that your employees could still be using their personal devices. Don’t let your on-the-go workforce define your organization’s mobile strategy.
Read the complete article here to be proactive and learn about all of the business tools and apps that can make it easier for you to partner with your employees to deploy a secure BYOD policy that keeps business and personal communications completely separate.