Financial services firms are required by law to have all transaction-related phone conversations, text and instant messages recorded and archived in case of a government audit, a client dispute or a potential fraud. Staying compliant has become a bigger challenge as conducting transactions over mobile devices has increased among Financial professionals and their clients. This info-graphic illustrates why financial firms need to take mobile devices into account when it comes to compliance regulations and suggests steps to ensure they are aligned with these regulations.

1. Mobile
Security
Compliance
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Mobile Call Recording
and Compliance
of financial services firms report
between 76 and 100% of employees
of financial services firms report
between 76 and 100% of employees
use mobile phonesuse mobile phones
in the enterprisein the enterprise
Most Smartphones are
Owned by the Company
Most Smartphones are
Owned by the Company
Compliance is CriticalCompliance is Critical
Safely Enable the 24/7 WorkplaceSafely Enable the 24/7 Workplace
Enable a Mobile-First WorkplaceEnable a Mobile-First Workplace
OnlyOnly
of firms expectof firms expect
BYOD usage to increaseBYOD usage to increase
49%49%
of firms activelyof firms actively
enforce BYOD policiesenforce BYOD policies
64%64%
Top ChallengesTop Challenges
14.8%14.8%Security threatsSecurity threats
11.8%11.8%Business strategy
alignment
Business strategy
alignment
11.8%11.8%Network stability/
reliability
Network stability/
reliability
10.8%10.8%Migrating to the
cloud
Migrating to the
cloud
8.6%8.6%New regulatory
requirements
New regulatory
requirements
IT and
Compliance
Managers
IT and
Compliance
Managers
IntegratedIntegrated Integrate with existing
infrastructure
Integrate with existing
infrastructure
MobilityMobility Are designed specifically for
mobile devices
Are designed specifically for
mobile devices
VoiceVoice
Cover mobile voice calls
as well as any other form
of communication
Cover mobile voice calls
as well as any other form
of communication
TradesTrades
Support trades within the
relevant software
Support trades within the
relevant software
EffectiveEffective Run so seamlessly and effectively that
it’s unnoticeable by the end users
Run so seamlessly and effectively that
it’s unnoticeable by the end users
47.6%47.6%
Enabling a mobile-first workplace takes careful thought
and focus, as well as the right mix of technology and
cultural change to ensure all rules and regulations are
being followed. Look for solutions that:
Enabling a mobile-first workplace takes careful thought
and focus, as well as the right mix of technology and
cultural change to ensure all rules and regulations are
being followed. Look for solutions that:
What to Look for in a ProviderWhat to Look for in a Provider
Find the Right OneFind the Right One
Flexible enterprise
mobility
Flexible enterprise
mobility
End-to-end
security
End-to-end
security
End to end
compliance
End to end
compliance
Seamless
deployment
Seamless
deployment
Mobility is Changing the
Face of Financial Services
Mobility is Changing the
Face of Financial Services
Employee-ownedEmployee-owned
Company-ownedCompany-owned53%
47%
Uploads to
the cloud
Uploads to
the cloud
Archives
to a portal
Archives
to a portal
Recordings
are searchable
and retrievable
Recordings
are searchable
and retrievable
Automatically
records
Automatically
records
Pre-load phones with
compliance software that:
Pre-load phones with
compliance software that:
Instantly
deletes data
Instantly
deletes data
07:15
Deploy
Company-owned
Smartphones
Deploy
Company-owned
Smartphones
Address IT
Challenges
Address IT
Challenges
Enforce
BYOD
Policies
Enforce
BYOD
Policies
Record and
Store Relevant
Financial
Information
Record and
Store Relevant
Financial
Information
“Digital Transformation in Financial Services,” White Paper, Frost & Sullivan,
Fall 2016; “The Future of Communications in the Workplace,” White Paper,
Frost & Sullivan, Summer 2016.