Enable Your Regulated Business To Communicate Through WhatsApp And iMessage Compliantly With Fingerprint And SnippetSentry

We are pleased to announce an ingest partnership with mobile message capture provider SnippetSentry . This partnership will facilitate WhatsApp and iMessage capture and ingest to the Fingerprint | Supervision platform, benefiting our existing and new clients. Adding the SnippetSentry ingest to the Fingerprint Platform will enable regulated businesses to communicate with and monitor these ‘off-channel’ messaging apps compliantly.

For regulated firms, capturing and monitoring communication channels used to conduct business, including messaging and collaboration apps, is a major regulatory requirement from several regulatory bodies. This includes regulators such as the Financial Conduct Authority (FCA), the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the European Securities and Markets Authority (ESMA). With this new ingest partnership, financial firms can now meet key regulatory requirements regarding mobile communications monitoring globally.

The unmonitored use of WhatsApp and iMessage has been a prominent topic in the financial world in recent years. Financial institutions worldwide have collectively been fined billions of dollars by regulators such as the SEC for using unmonitored and off-channel messaging apps such as WhatsApp and iMessage to conduct business. It is expected that the use of these communication apps in the financial industry will continue to increase, given that many financial industry employees are mobile and frequently travel, and many clients of financial firms are seeking ways to communicate effectively.

Financial firms striving to achieve compliance are turning to RegTech solutions to monitor WhatsApp and iMessage, embracing a modern approach to conducting business. By utilizing RegTech to monitor messaging communications, financial firms can not only comply with regulatory requirements, thereby avoiding hefty fines and a damaged reputation, but also exceed those requirements to maintain a positive reputation for risk management and conduct within the industry. 

Adding WhatsApp and iMessage message capture and ingest is a welcome addition to Fingerprint's already comprehensive communications compliance tools and monitoring automation. Development and implementation of the ingest capability are in the final testing stages and will be live for use by our first cohort of clients by January 2024.

James Hogbin , CEO of Fingerprint, says:

“We are pleased to partner with SnippetSentry to offer our clients and the wider industry a WhatsApp and mobile messaging monitoring solution, integrated within our holistic communications supervision platform. Using Fingerprint’s RegTech will ensure that firms meet key regulatory requirements for communications monitoring to manage risk and conduct well. Rather than banning the use of apps like WhatsApp, we believe, with the right monitoring tools in place, that using messaging apps can be an enabler to business, as many clients of financial firms now wish to communicate and conduct business using these messaging apps. As long as financial firms monitor the use of these apps properly using solutions like ours, they can remain confident that they are meeting regulatory requirements, advocate for using these channels to provide flexibility for their clients, and watch their business grow as a result.” 

Edward Green , CEO of SnippetSentry, says:

"We are thrilled to announce our partnership with Fingerprint, an innovative collaboration that will transform the way financial organizations capture and monitor WhatsApp and iMessage communications. This partnership signifies a pivotal moment in RegTech, enabling financial institutions to not only meet regulatory mandates, but to empower their teams with modern communication solutions. We believe that the adoption of compliance technology is imperative to driving a secure financial network; partnering with Fingerprint, we are committed to driving this transformation forward. Together, SnippetSentry and Fingerprint are enabling compliance confidence, while ensuring trust in every message."

We look forward to supporting our clients, existing and new, to adopt this exciting new addition to the Fingerprint platform. If you are looking to find a compliant way to use and monitor mobile messaging apps within your organisation, drop us an email at: hello@fingeprint-supervision.com or give us a call on +44 (0)203 011 4150 in Europe, or +1-646-5689662 in the US.