Deutsche Bank has known of the menace that is WhatsApp for years. But because Deutsche Bank’s compliance department is as bad at its job as the bank is at, well, everything, it didn’t actually do anything beyond banning its use. You know, like it does with money laundering and spoofing to such great effect.
Anyway, someone—presumably not someone at Deutsche Bank, but someone somewhere—realized this was a problem, particularly at this particular moment. And that someone did something about it. And luckily for Deutsche Bank, that someone was someone at the partially Deutsche Bank-backed super-secret messaging service.
Symphony’s new system provides a version of WhatsApp on its platform for its clients. WhatsApp conversations held on the platform can then be recorded so that lenders’ compliance teams can analyse the data to monitor employees’ exchanges with colleagues and clients, a person familiar with the matter told FN.
Stefan Hoops, head of the corporate bank at Deutsche Bank, said: “The integration of WhatsApp with Symphony means we, and other businesses in the bank, can make interactions with our clients even easier when they need us most.”
Now if only DB and the rest could get their employees to actually use Symphony, or somehow prevent those intending to break rules and laws from using the Symphony-unembedded version of WhatsApp or an even more encrypted or short-lived messaging service.