LeapXpertWhatsApp is now a crucial part of most banks’ compliance strategies. That’s because regulators in the United States and other countries are starting to require the archiving of mobile communications. If you’re not using a tool like WhatsApp Archiver, you could put your business at risk. However, you might need to look beyond just the feature offered by the instant messaging platform.
The Built-In WhatsApp Archiving Feature
WhatsApp lets you archive your messages. However, it doesn’t quite work how financial entities need for compliance. The feature allows users to archive some chats, so they can focus on the ones that matter most to them. Archived chats remain active, but they do not show up in the main chat and users do not receive notifications for them.
Archived WhatsApp messages are helpful for people who want to keep their chat history organized, but it’s not ideal for businesses that need to archive everything. For starters, it does not guarantee that the archived messages get backed up to the cloud or an SD card. They get filed away into a folder.
While this is a helpful feature, it does not meet the archiving requirements that US financial regulators put in place. Consequently, relying on this feature alone could cause issues with mobile compliance regulations.
Some Common Uses of Archived Messages on WhatsApp
At first glance, this feature might seem like little more than a polite way to block people and groups without actually doing it. However, it does have its benefits.
1. Silencing Group Chats
If you’re in a group chat that’s constantly blowing up your notifications, you can archive it. Doing this will stop the notifications without you having to leave the chat or tell anyone. You can then check in when you’re ready to catch up on what’s been going on in the chat ? or continue to ignore it.
2. Organizing Your Chats
WhatsApp lets you archive both individual and group chats. So, if you want to tidy up your chat list, you can archive the ones you don’t need to see all the time. This can be a great way to declutter your chat list and make it easier to find the conversations you need.
3. Making Some Chats Private
You can also use WhatsApp’s archive feature to make some of your chats hidden and keep things confidential. Doing this is especially useful if your chats contain sensitive information. By archiving them, you reduce the risk of unauthorized access. If you hand someone your phone, they would need to know where to look to find this archived chat.
Why a Third-Party WhatsApp Archiver Is Essential
While WhatsApp’s built-in archiving feature is interesting, it will not keep US banking regulators happy. Here are some of the many reasons a third-party solution is essential:
- It backs up your chats automatically to the cloud or an SD card, so you don’t have to worry about doing this.
- Archived chats are searchable, so you can use specific keywords to track conversations related to a particular transaction or customer.
- It exports your chats as PDFs, so you can print them out, keep them electronically, review them, or share them as evidence.
- It archives all your conversations, not just the ones you want to focus on for financial compliance.
- Failing to back up chats correctly could cost financial entities millions of dollars in fines, so an automated solution is ideal.
- BYOD policies opened privacy, cybersecurity, and compliance loopholes that professional archiving solutions help close.
What To Look For in a WhatsApp Archiving Solution for Your Business
Not all archiving solutions for WhatsApp were created with financial entities in mind. In fact, some were not created for commercial use at all. Consequently, choose carefully. Use these criteria as your starting point:
- Compliant with FINRA, SEC, and GDPR regulations
- Archives all WhatsApp chats automatically and backs them up securely
- Makes it possible to access from any authorized device
- Offers customer support so you can get help when you need it
- Makes it possible to search through chats and export them as PDFs
Why Choose LeapXpert
We have spent years developing dependable and compliant archiving solutions for WhatsApp and other instant messaging services. Our team helps our clients achieve reliable business communication and searchable chat records. We also offer state-of-the-art security to keep shady characters out of your chat data.
Are you ready to ensure your WhatsApp business communications meet all the regulations dictated by the SEC and other financial regulators? Contact us to learn more about our archiving services.
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