This is unrelated to healthcare, but lessons drawn from here are equally valid. Which app to use for interfacing with patients? If and when patients share reports, who mandates the “security” and “privacy” of the communication? All data is stored on the companies’ servers, providing communication applications like WhatsApp/Telegram or Facebook Messenger. Apps like Threema/Signal claim that none of the messages stay there.
The problems start when you install monitoring software (on personal phones), and this becomes intrusive. What will stop anyone else getting a second phone?
The US Securities and Exchange Commission — in an early flashpoint of an investigation that has spread across Wall Street — found that JPMorgan failed to track more than 21,000 texts and emails, sent and received on personal phones or through unapproved apps, related to the co-working company, according to people familiar with the matter.
The ramifications are serious:
JPMorgan in December agreed to pay a $200mn penalty to resolve the matter, with $125mn going to the SEC and $75mn to the CFTC. The SEC order referred to JPMorgan’s work for “an investment banking client”, which was WeWork, according to the people familiar with the matter.
Here’s something interesting:
So, despite the lofty claims from the website, here’s what FT has written:
One unsuccessful attempt was made to use Goldman Sachs-led messaging platform Symphony, but staff found it too cumbersome and later branded it “useless”, the person added. As a result, many started using WhatsApp and text messages despite their use being expressly forbidden. Internal watchdogs found evidence of this by detecting words and phrases in recorded emails.
Most of these companies are then making money only for the compliance costs and risk mitigation. Enterprise messaging hasn’t been cracked, and users will gravitate towards the most convenient platform they know-WhatsApp.
Replace the “bank employees” with healthcare workers and the learnings are similar:
But the issue is far from resolved. Ultimately, if banks want to stop the use of a continually mutating roster of unapproved apps, they are going to have to change the mindset of employees, according to Dan Nardello, a former federal prosecutor in Manhattan and now chief executive of global investigations company Nardello & Co.
“If folks want to communicate off-channel, they’re going to do it,” he said. “You can implement all the software you want but it’s not foolproof. It’s about cultural change.”
Who wants to bell this cat?