No clear owner of Chat & Collaboration within financial services despite soaring user adoption
London, UK – 15 September 2016: MindLink, the leading provider of secure Chat Enabled Collaboration (CEC) tools for global businesses, has today announced the results of an independent study with regards to the use of chat & collaboration technology within the financial services sector. The qualitative evaluation found that Chat and Collaboration applications are used by virtually every firm yet a lack of clear ownership of these tools and associated compliance risks are major concerns.
Designed to gather objective feedback from senior executives’ views on collaboration technologies, user adoption, ownership, priorities for 2016/17 and internal communication challenges, the report highlights several key findings:
- Chat tools are being used in virtually every firm. Nearly all respondents stated that ‘they couldn’t live without it’
- Chat has no defined owner. The complexity and implications of owning chat enabled collaboration systems and data/conversations within, makes it potentially one of the most accountable roles within financial services
- Co-existence of legacy and innovative new systems is the biggest challenge
- Encryption is the most crucial requirement for CEC platforms
- Compliance teams are the gate keepers in terms of overall purchasing decisions
“The advantages of real-time enterprise chat platforms are undeniable, especially within Financial Services where high velocity data exchange is a must. Adoption is soaring, yet the research report has shown several surprising findings. One is certainly the potential need for a Chief Collaboration Officer. Someone who does not only own but also drives collaboration initiative within financial firms and beyond”, says Andrew Delaney, Chief Content Officer at the A-Team Group.
For the report, senior business executives of tier 1 financial companies including buy-side and sell-side firms, investment banks and interdealer brokers in the UK and US were interviewed, to find answers to the most common questions regarding ‘Chat Enabled Collaboration’ (CEC) technology within the space.
“We work with many financial firms, half the Global Systemically Important Banks (GSIBs) for that matter, and whilst chat & messaging are engrained in this sector as a real-time collaboration tool, to share research or execute trades, similar questions, needs and challenges persist,” says Annekathrin Hase, CMO at MindLink. “We commissioned a market research report to get first-hand, objective views as to what collaboration technology financial firms require and want”.
According to the study, chat is fast becoming the life blood of financial organisations making them more competitive and more agile and without which they would be unable to operate efficiently.
The full research report and findings can be downloaded on www.mindlinksoft.com.
Shamira Alidina, Director, Dina Communications
Tel +44 (0) 7801 590718
Email: [email protected]
Annekathrin Hase, CMO
+44 (0) 20 3582 1487
MindLink is a highly secure Chat Enabled Collaboration (CEC) platform for global enterprises. Think of MindLink as a secure alternative to WhatsApp™ designed for corporate use. Its messaging and collaboration app encourages employees to stay actively connected, reducing unnecessary email usage.
MindLink enables real-time collaboration and information sharing without ever overloading the user and allowing access to knowledge in a highly structured and customised way. It is designed to meet stringent data security requirements and regulatory compliance needs whilst maintaining powerful enterprise level functionality and integration with internal and external systems. MindLink recently released its next generation software which also connects to Unified Communication platforms such as Microsoft Lync and Skype for Business whose messaging functionality MindLink now significantly enhances.
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