Within regulated industries, such as financial services, government, and healthcare, there have been longstanding regulations governing the capture, archive, and supervision of business communications.
One of the challenges regulated firms face is ensuring that every aspect of feature-rich communications, including screen shares, in-meeting chat, and SMS, can be captured, archived, and supervised to meet regulatory requirements for the Securities & Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Financial Conduct Authority (FCA), and the Freedom of Information Act (FOIA), among others.
Over the years, these regulations haven’t changed much, but the routes and technology that people use to communicate have dramatically evolved, which has directly impacted the scope of the regulations.
“Many of the legacy compliance and security technologies that were built for text-based communications have not evolved to keep up with the rate of innovation of the unified communications industry,” explained Anthony Cresci, senior vice president of finance, business development, and operations at Theta Lake. “This has created a big gap and pain points for UC, IT, and compliance teams alike as adoption continues to grow.”
To address these pain points, Theta Lake developed a platform purpose-built for the modern workplace with its complex challenges of distributed communications across voice, persistent chat, SMS, video, and more. The company’s market leadership is validated further by Theta Lake winning the Best Compliance Product and the Best Security Product by UC Today multiple years and scoring a 100% “would recommend” rating on Gartner Peer Insights.
“The shift to distributed work encouraged us to take a different approach than other legacy solutions, building a compliance and security suite for modern communications. Theta Lake has the ability to capture and retain communications in their native format, enabling rich e-discovery with the ability to detect risk across what is said, shown, shared, or written,” Anthony said.
Theta Lake offers nearly 100 certified integration partnerships with the world’s leading unified communication and online meeting providers, including Zoom.
“I’m excited about our partnership with Zoom and its recent investment in Theta Lake,” explained Anthony. “Our extensive integrations across Zoom Meetings, Phone, SMS, Team Chat, in-meeting chat, polling, Q&A, and more, enable firms to selectively and compliantly capture communications on Zoom allowing modern workplace teams to deploy all of the rich features and content types offered across the Zoom suite.”
Meeting customer needs with a strong partnership
As more companies began to use video to communicate, Theta Lake focused on supporting compliance for this medium. That’s when they explored the opportunity to collaborate with Zoom by joining the ISV Partner Program.
“We launched Theta Lake with the vision to support all unified communication types, starting with video because it is the richest form of communication and the most complex, incorporating voice, chat, screen sharing, webcam, whiteboards, and more,” Anthony explained.
“Zoom was one of our first integrations around video because it offered the necessary APIs and supported the entire unified communications stack, even in the early days. It continues to be a focus due to customer demand,” Anthony said. “Zoom has been innovating and developing its cloud-native platform at a rapid pace, and our customers want to take advantage of every feature and functionality delivered by Zoom.”
Zoom delivers APIs alongside new products, features, and functionalities, which helps Theta Lake support the business preservation and surveillance of those communications to meet the regulatory requirements of regulated firms.
“For example, customers may want to use Zoom Phone SMS, so those messages may need to be captured for compliance reasons,” stated Anthony. “With Zoom’s APIs, we can connect the dots between all communication mediums.
“Theta Lake offers a best-in-class compliance and security solution for Zoom customers in regulated industries. We have been able to deliver better user experiences for our rapidly growing customer base. In fact, we have seen our customers grow 250% in the last 18 months,” he added.
Driving value for customers
“Hybrid work presents challenges for how firms structure compliance oversights and control mechanisms, including capturing business communications regardless of where they happen. Leveraging Zoom’s APIs allows us to deliver necessary integrations that help our customers utilize all of the key productivity features that Zoom offers while meeting the necessary regulations,” explained Anthony.
Theta Lake currently has five applications available on the Zoom App Marketplace that enable its customers to selectively leverage its compliance and security integrations across Zoom Meetings, in-meeting chat, polling, Q&As, SMS, and Zoom Phone.
“We have a strong partnership with Zoom, which began in 2018. Since then, our strategic alignment with Zoom’s product team, including weekly meetings, along with the breadth of Zoom’s APIs has enabled us to deliver innovative, differentiated, and in some cases industry-first advanced compliance and security capabilities for the distributed workforce,” Anthony said.
