There are more than 1 billion daily active users of WhatsApp today. Even though it is so widely used, many financial services organizations officially prohibit WhatsApp because messages are encrypted and difficult to preserve for compliance. However, many clients and employees continue to use WhatsApp for business-related communication. Organizations that do not capture and retain WhatsApp messaging create challenges for compliance teams and put themselves at risk of regulatory consequences.
In Episode 4 of the Smarsh View series, Shaun Hurst, Smarsh Technical Director, discusses WhatsApp's worldwide prevalence and why banks should enable it for business.