Behavox and LeapXpert announce strategic partnership to transform previously unauthorized channels of communication into approved and compliant channels
New York – December 12, 2022 – Behavox, the security software company that specializes in communication surveillance, and LeapXpert, the enterprise-grade responsible business communication pioneer, today announced a strategic partnership. This partnership will enable enterprises to turn WhatsApp and other previously unmonitored messaging applications into approved and compliant channels by capturing and surveilling communications.
The partnership brings to market an unparalleled ability to record and govern conversations taking place over social messengers such as WhatsApp, iMessage, SMS, WeChat, Telegram, Signal, and LINE, as well as a unique ability to use these messengers compliantly from within the native Microsoft Teams interface. All this comes at a time when US and European financial institutions are under growing scrutiny for widespread use of unapproved messaging applications for business communications.
“We are excited to partner with Behavox to transform previously unapproved communication channels into governed, compliant and secure methods of engaging clients,” said Avi Pardo, Co-founder & CRO at LeapXpert. “In Behavox, we see a partner that matches our speed and ambition to deliver responsible business communication solutions not only to financial institutions, but to Oil & Gas and many other markets seeking effective surveillance programs.”
In September, the SEC charged 16 Wall Street firms with massive recordkeeping failures. The firms agreed to pay combined penalties of more than $1.1 billion, and “have begun implementing improvements to their compliance policies and procedures to settle these matters”, according to the SEC. On the same day, the CFTC announced that it had ordered 11 institutions to pay over $710 million for similar failures and “widespread use of unapproved communication methods.”
Such pressures are growing in Europe too, particularly in Germany and the UK. In October it was reported that the FCA in the UK is also demanding answers from authorized firms with respect to capturing and monitoring instant messaging platforms for compliance risk.
“We have seen time and time again that hope is not a strategy – just waiting for regulatory action has meant that firms are not proactively monitoring for risks present in WhatsApp and other IM platforms,” said Nabeel Ebrahim, Chief Revenue Officer at Behavox. “With LeapXpert, we are looking to provide our customers with an instant message capture solution that has been successfully implemented in the largest banks and successfully passed the regulatory inspection”.
You can also learn more about how Behavox & LeapXpert are working to enable organizations to better record and monitor instant messaging channels at our upcoming roundtable in New York on 18 January 2023.
About Behavox Ltd.
Behavox is a security software company that specializes in communication surveillance:
As a market leader in the application of Artificial Intelligence to monitoring of text and voice communications, Behavox’s software protects companies and their employees from bad actors engaged in illegal and malicious activities.
Compliance, surveillance, legal and SOC teams rely on Behavox software to reduce false positives and increase detection rate across a broad range of risks. There are many solutions to protect companies from outside risks; Behavox protects companies from inside risks.
Founded in 2014, Behavox is headquartered in Montreal and has offices in New York City, London, Seattle, Singapore, and Tokyo.
More information about the company is available at www.behavox.com
LeapXpert provides organizations peace of mind by creating an accessible digital record of all business interactions carried out over mobile messaging and voice applications. The LeapXpert Communications Platform is the first Federated Messaging Orchestration Platform to provide full visibility into data from instant messaging channels, as well as unparalleled governance and control. LeapXpert enables financial institutions and enterprises anywhere to embrace a customer-centered communication approach while maintaining professional conduct and ensuring compliance. Founded in 2017, the award-winning company is headquartered in New York with 6 global offices. For more information, visit http://leap.expert.
For Behavox: email@example.com
For LeapXpert: firstname.lastname@example.org
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