Message archiving is one of the significant factors in a financial firm’s regulatory compliance. Both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) have made this activity a legislative action. Besides compliance with FINRA and SEC regulations, it is also sufficient for recordkeeping.
WhatsApp is a well-known instant messaging application for over 50 million businesses. Apart from it is easy to accomplish archived chat on WhatsApp, it also has many amazing features for businesses, such as:
Free and Lenient Communication
WhatsApp for Business was first made known to the public in February 2009. However, it was primarily published as a one-to-one messaging software. It offers free and international sending and receiving of the following factors:
- Text messages
- Multimedia Messaging Service (MMS)
- Voice or video call
- Softcopy files
All these features the messaging platform acquires made it one of the top most reliable and utilized instant messaging (IM) applications worldwide. According to Business Dit, over 50 million organizations worldwide use this software. It is not surprising, considering it provides free and easy communication to anyone worldwide.
Automated Greeting and AwayMessages
Another amazing aspect that made WhatsApp convenient for many businesses is its automated messages. Replying to multiple inquiries and questions from clients and potential business partners can be overwhelming. Thus, these computerized messages companies can set up are helpful to prevent interaction burnout andimprove work productivity.
Organizations can create and customize a greeting and away message from the Business Tools section in the software. It can also help companies engage with consumers more and lessen their waiting times.
Easy Way of Archiving Messages
Finally, archiving messages is one of the top features of WhatsApp for businesses. As mentioned earlier, FINRA and SEC have made message archiving a legislative requirement for financial firms. It is only necessary as it helps these companies with the following factors:
- Maintaining transparency
- Securing interactions
- Keeping the financial industry organized
While WhatsApp chat archived is accessible to all users, it does not 100 percent guarantee that companies can meet all archiving requirements. Hence, it is highly recommended for financial institutions have a third-party WhatsApp archiver that can be linked to this application alone.
One of the great examples of a reliable and simplified company that offers third-party message archiving solution software is LeapXpert. Numerous financial companies trusted them over the 40 years they have been in the industry because of their outstanding products and services.