Your Street is the Next Wall Street: Helping Brokerages Stay Compliant and Actionable During COVID-19
March 12, 2020
The COVID-19 coronavirus outbreak has turned the working fabric of businesses upside down over the past few weeks. Businesses have had to adjust operations models to stay ahead of the outbreak. Allowing, or in some cases mandating, employees to work from home has been a large focus for businesses whose employees are able to work remotely.
However, working remotely comes with its own inherent challenges. These challenges grow exponentially in the financial services industry, especially in the brokerage and stock trading world.
The growing use of alternate disaster recovery sites or home offices could give rise to technical problems, with trading software and compliance systems requiring large amounts of bandwidth. Further, some trading platforms do not allow remote log-ins.
Working remotely also opens compliance gaps, moving personnel away from office phones and computers that are closely monitored and recorded by employers for potential misconduct or excessive risk-taking. In addition, to comply with the rules governing markets, calls need to be recorded and compliance teams need to be readily accessible.
How We Are Addressing this Challenge with MultiLine
Movius is here to help eliminate compliance gaps for your traders and your firm. Helping firms stay in business and stay compliant, and helping firm leaders better supervise traders who are relocated to remote offices or working from home because of the spreading virus has been a chief focus for us since the outbreak began.
We are here to help close compliance gaps and allow your traders to continue transacting and communicating with clients on a recorded line on their mobile device, with instant archival and supervision over the recorded data. This mission comes to fruition through Movius MultiLine.
MultiLine provides many benefits to firms and traders during COVID-19 or other unexpected events, including:
- A separate recorded business line that is deployed as a secure app on the mobile device, whether it is corporate-owned or personal (BYOD).
- Works over any device and underlying carrier and supports call recording across any WiFi, data or GSM network, ensuring quality and reliability no matter where they are.
- All recorded voice and text conversations are instantly captured and retained on our secure and compliant cloud, so you don’t have to worry about missing a step with your compliance archiving requirements during the current transaction period.
- The ability to deploy quickly with your existing Enterprise Mobility Management (EMM) or Mobile Device Management (MDM) solution if needed for speed and zero disruption to your current mobility environment.
As with any tragic or unexpected event, it is important for all of us to persevere and move forward. Movius can help you not only get through today’s unprecedented global crisis; we are dedicated to helping firms future-proof their mobility strategy to build business resilience on a sustained basis.
If you are interested in learning more about how Movius MultiLine can keep your business active and compliant during COVID-19, please contact us here.