Managing operational risks, promoting transparency in communication, and monitoring compliance are desirable practices in any organization, but in financial institutions, they carry even greater weight, especially where highly confidential data of companies and individuals is transmitted via WhatsApp.

Implementing policies to prevent fraud, data leaks, and misuse of private information is even mandatory, as stated by Resolution 4.557/2017 from the Central Bank. The document establishes guidelines for the continuous and integrated management of risks and capital.

And since WhatsApp is the preferred means of communication for users contacting their banking and financial institutions, how can governance be exercised over conversations via the app while ensuring the confidentiality of information? We have brought an article that will explain everything that a financial market company must do to protect data and its clients.

Also read: 7 use cases of WhatsApp in the financial market

Inside the Resolution

Among the measures of Resolution 4.557/2017 that must be applied by entities regulated by the Central Bank are:

• Adoption of systems for identification, measurement, monitoring, and mitigation of financial, operational, and socio-environmental risks;

  
  

• Management of capital reserves to absorb potential losses;

  
  

• Disclosure of risk management practices, capital levels, liquidity indicators, among others, to ensure transparency and compliance;

  
  

• Definition of acceptable levels of exposure to risks and mitigation strategies;

  
  

• Conducting analyses of the impacts of adverse events on financial stability;

  
  

• Establishment of solutions in the event of operational interruptions.

This Resolution was subsequently updated by regulations from the Central Bank, thus expanding the requirement for disclosure of information regarding risk management and capital.

An effective strategy to contribute to compliance with the Central Bank's rules is the monitoring of interactions through the corporate WhatsApp of financial institutions. Let's see how this happens?

Also read: How to protect the company's image and integrity with corporate WhatsApp monitoring

Transparent and secure communication is a strong strategy!

Those who handle the transmission of sensitive information via WhatsApp face the challenge of monitoring dialogues to prevent fraudulent operations and data leaks. In this sense, monitoring activity that occurs on WhatsApp between financial institution employees and clients becomes essential.

Thanks to Zapper, a unique Brazilian solution in Latin America, it is now possible to monitor conversations via the messenger, which allows:

• Detecting procedural and system failures;

  
  

• Identifying internal fraud;

  
  

• Preventing risk behaviors such as improper use of the channel for illicit negotiations;

  
  

• Auditing and tracking breaches of conduct and violations of corporate policies;

  
  

• Providing logs and complete records of interactions;

  
  

• Identifying illegal practices such as money laundering and financing crime;

  
  

• Detecting suspicious communication.

Zapper's conversational intelligence can be configured to send alerts to managers about any irregularities occurring in dialogues, allowing for immediate intervention and preventing the escalation of occurrences.

A very important aspect of monitoring is the storage of collected material. Conversations are captured in full and automatically saved in the cloud, with exclusive access. The content remains in cloud for an indefinite period, ensuring the possibility of consultation and the issuance of reports.

Also read: Companies can monitor corporate WhatsApps

One of the requirements of the Central Bank is precisely the preparation of detailed analytical reports by financial institutions. With Zapper, companies have structured data about communication via WhatsApp, which can be integrated into internal audit processes to demonstrate compliance with the Resolution.

In possession of such relevant information obtained through Zapper, financial organizations have the ability to minimize operational impacts during potential crises!

Also read: Risk management in communication via corporate WhatsApp

With the increasing digitalization of financial services and the use of messaging apps in interactions with clients, Zapper aligns with the best practices of governance, risk management, and compliance required by the Central Bank. How about getting to know this platform better and including it in the company's operations?

Click here to schedule a demonstration of the tool.