THE BYOD CHALLENGE

Despite the surge in demand for BYOD, regulations remain strict.

When it comes to BYOD, one of the greatest challenges is creating effective delineation—making it simple to “do the right thing”. After all, the regulations are no different if a user is calling via a trading turret, or a corporate contracted device or from their personal mobile device. If you make it easier to do the right thing, a regulated user is less likely to accidently do the wrong thing.

There is a massive conflict occurring between the demand of the users to have all these incredible tools on the latest devices and demands from the business for supervision and control. Add to this the new impact of remote working and the pressure this puts on clients to work harder to ensure the appropriate level of controls are maintained.

In the UK, the Regulator has informed the market that the transition to remote working environments does not in any way change the compliant record-keeping and supervision obligations of the firms they regulate. This sentiment has been repeated by most financial regulators globally. Compliant call and SMS recording is required wherever you are working.

We ensure control of your mobile estate by delivering a managed environment to any mobile phone be that personal or company provided. Where required, calls and SMS messages can be captured and recorded. Contact lists are clearly split between business and private. Through our cost-effective, sustainable mobile recording solution, you can significantly reduce operational costs while maintaining compliance globally. We also empower you and your staff to flex in and out of a BYOD model as you see fit, so no need to worry about changes in your requirements.

Todays users demand the very latest technology. BYOD enables choice.

The consumerisation of technology has made banking employees the most discerning consumers of technology and no more so than when it comes to mobile devices. Finance institutions, facing the spiraling cost of devices, are turning to BYOD to address this challenge.

In order to achieve a successful BYOD model, users must have access to relevant corporate applications. But also, you need your regulated users to have timely access to sensitive market data. So how can you give them access to market data, and how can you provide safe access to the bank's market insight on that single, personal device?

Thus, the only BYOD programmes that have enjoyed success in the financial markets have been those that implement a containerised business environment within the personal device—delivered via Mobile Device Management. In this environment, an area within that handset is controlled by corporate policy and standards, this allows for a segregated component of the personal users' handset that the bank can use to provide its applications, voice communication and data.

The goal is to make this device performance easy and secure while being manageable. Corporates need to understand how to segregate that sensitive corporate data and make sure that the end-user cannot go to the corporate side of the device and collect data, and then distribute it from the private side of their device (by taking a screenshot or cutting and pasting, for example). Equally important is removing the opportunity for plausible deniability by making it as difficult as possible for users to ‘accidentally’ make work calls or carry out transactions from the private side of their device.

We understand that the business of today wants only the best devices. You shouldn’t have to sacrifice that in order to remain compliant. At Truphone, we meet the demands of end-users by powering up personal devices with the tools needed for compliant communication. Not only does this mean your staff no longer have to manage two devices, but it also reduces operational costs, significantly reducing the cost of having to buy expensive handsets. Our secure containerised app supports both compliance and control measures and BYOD demand through our MultiLine product. With Truphone MultiLine, you choose what is recorded and can apply corporate policy rules within the app itself.

How can firms navigate the line between control, compliance and autonomy?

For all it's benefits, BYOD is by no means a panacea. Financial institutions sometimes struggle with the concept and practicalities of relinquishing insight and control to their employee’s personal device. In turn, employees can also resist the intrusion of utilising their personal device and number for business communication.

It’s unsurprising, therefore, that financial institutions, in particular, have found it challenging to strike a balance between employer authority on the one hand and user autonomy on the other. Clearly, they cannot simply throw up their hands and let chaos rule. Sensitive client and company data is vulnerable to surveillance, leakage and fraud. A balance must be struck between freedom and control. The very difficult cultural and technical challenge is: How can a bank create sufficient functional controls on an end user's personal handset, without creating anxiety about that user's personal privacy or curtailing personal freedom?

While employee demand for state-of-the-art devices increases, we understand the apprehension this can bring about for businesses. With Truphone MultiLine, however, we enable you to roll out a BYOD model across your business, while ensuring you keep control of your mobile business mobile communication. You retain complete visibility and control at all times.