When I founded Social Media Compliance around 5 years ago, I was inspired and driven by the need to provide a solution for regulated firms to use social media proactively and reduce the risks associated with it.
We all know that social media – whether it’s using company channels for marketing and comms or employees communicating with customers on WhatsApp or LinkedIn – has huge potential for business growth. However data leaks, reputational damage, loss of IP, and the threat of non-compliance are often viewed as insurmountable barriers, and FSIs have found it hugely challenging to seize the opportunity.
Social media compliance headaches
‘Compliance’ is one of those words that makes the blood run cold. Compliance professionals are in high demand because few of us want to get our heads around ever-changing and often conflicting regulation, and the responsibilities that entails. It has led to a situation where the compliance department is often viewed as the bad guys. They’re the people who say ‘no’ to digital innovation because regulations have failed to catch up with technology and customer behaviours.
However, I think change is afoot. Regulation like the Senior Managers Regime, which has actively raised the importance of personal liability and accountability within the financial services industry, means that compliance is not just a job for the compliance department. We all need to take ‘reasonable steps’ to prevent and remedy potential data loss. And if we do, we should have the freedom to use social media channels and our own personal devices in line with regulation.
Creating digital freedom
This goal to provide organisations with the freedom to allow employees to use personal devices and channels such as WhatsApp, WeChat and LinkedIn, is why we’ve rebranded Social Media Compliance to DeepView. Our solution is to provide organisations with a safety net with a focus on taking ‘reasonable steps’ to prevent and identify inadvertent data loss and provide employees with the tools to use social media channels compliantly.
Why DeepView? We wanted to move away from being seen only as a compliance solution, to being an enabler. Our business, and the market, has transformed substantially in recent years and it is time to reflect this with a new identity. Our tagline ‘Creating digital freedom’ sums it up, we want to drive business growth not prevent it.
Incidentally, while many people don’t want to spend their time navigating the global regulatory landscape, we do! We dive right in and are constantly innovating our products to ensure they not only meet current regulations but are also aligned with digital advances and evolving threats.
It’s an exciting time at DeepView as we rebrand and launch our product suite in a challenging market. Interest has skyrocketed in our solution and we’re now poised for the next phase of our journey. If you want to come along for the ride, get in touch!
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