#2721: Report Shows 83% Turn Off Collaboration Tools' Productivity Features Due to Regulatory Requirements...

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Watch the clip above and check out the full episode below the show notes.

Theta Lake CEO Devin Redmond joined us on the show to share results from their annual Modern Communications Survey Report: "The Security and Compliance Risks of Collaboration Tool Usage in Financial Services.” One of the biggest findings showed that 83% of respondents are turning off key productivity and usability features of collaboration platforms like Zoom, Microsoft Teams, and Webex due to their organizations’ technical inability to adhere to relevant regulatory compliance and security requirements.

Other findings from the communications survey include:

• Compared to their survey conducted in February 2020, video usage is now up more than 70% and chat is up 50%.
• Despite a 70% increase in the usage of video tools, 82% of respondents are not leveraging all the capabilities of their video platforms.
• Two out of three firms are expecting to spend more time in the next 12 months monitoring collaboration platform conduct.
• The top three collaboration features considered to be threats or challenges to privacy and security include: files uploaded or transferred in chats, links shared in chats or onscreen and screenshares.
• Nearly two-thirds (63%) of respondents indicated that their top security concern is the circumvention of email and sharing of confidential information through screenshares or webcams.
• Video and chat usage have surged, increasing more than 70% and 50%, respectively, since Theta Lake’s 2020 Benchmark Report
• Theta Lake found that 83% of respondents are turning off key productivity and usability features of collaboration platforms like Zoom, Microsoft Teams, and Webex due to their organizations’ technical inability to adhere to relevant regulatory compliance and security requirements.

Devin shares the many takeaways and lessons learned from their latest report and how it affects credit unions in these increasingly digital times.

Check it out and let us know your thoughts. And be sure to watch the entire interview for all the details.