Monetary companies is an trade constructed on belief. Shoppers depend on you to maintain their cash protected, give them sage recommendation, and make selections with their finest curiosity in thoughts. To construct on that belief, embracing video as a part of your digital promoting technique is a superb approach to join together with your purchasers face-to-face in our new digital world. However utilizing video within the monetary companies trade requires sure checks and balances, like ensuring that you just’re utilizing an enterprise video platform that gives safe video sharing.
Safety and authorized compliance add one other layer of complexity to digital promoting within the monetary companies trade. Fortunately, some enterprise video platforms have carried out measures to make sure that once you create, share, and host video, you’re doing so inside the pointers and authorized necessities of your organization.
The monetary companies trade has been one of many greatest adopters of video creation, up by 129% YOY, which is sensible on condition that many moved to digital-first work. To just be sure you can reap the benefits of video like so many different advisors and wholesalers are, we’ve rounded up all the things you could find out about safe video sharing for monetary companies.
- 1. Why Is It Necessary to Use Safe Video?
- 2. Creating Compliant and Safe Video
- 2.1 Greatest Practices for Buying Compliant and Safe Video
- 2.2 Instruments to Tackle Video Compliance Considerations
- 2.3 Advertising and marketing Movies and Compliance
- 2.4 Gross sales Movies and Compliance
- 3. Safe Video Sharing
- 3.1 Password Protected Video Sharing
- 4. Safe Video Sharing Is Right here to Keep
Why Is It Necessary to Use Safe Video?
With the information-sensitive nature of monetary companies companies, safety and compliance are non-negotiable when defending personal shopper interactions. If video isn’t safe, there are a number of destructive impacts, like:
- Lack of model fairness
- Disruption to the enterprise
Companies inside the monetary companies trade are held to the next commonplace relating to data safety and privateness. There could be regulatory penalties with hefty penalties from a breach in your system or a video that was meant to be personal being made public.
When evaluating what enterprise video platform is finest for your corporation, each your authorized workforce and IT division should be a part of the procurement course of so that every one the necessities are laid out clearly within the scope of your search.
Search for a platform that has a devoted safety workforce and has laid out its compliance procedures. For instance, at Vidyard, we all know how essential safety is to our prospects, so we created a Safety Pledge to make sure direct and clear communication with our prospects.
Suppose your group continues to be on the fence about integrating video into your digital or hybrid promoting technique. In that case, we hope that by sharing why safe video is crucial and attainable, we’ll assist you begin your video creation and sharing journey!
Creating Compliant and Safe Video
Making certain video compliance continues to be a precedence and problem for compliance departments due to elevated rules and mandates masking information, disclosures, and privateness.
To create compliant and safe movies, you and your group have to know what the foundations are. First, consider which legal guidelines apply to your corporation, then kind a plan together with your compliance workforce to verify you’ll be utilizing these rules throughout all video promoting content material.
Greatest Practices for Buying Compliant and Safe Video
- Interact compliance, authorized, and privateness groups early within the course of to set foundational targets.
Earlier than even beginning the seek for a video platform, have a discovery session together with your compliance, authorized, and privateness groups to verify everybody has an opportunity to submit necessities. Perceive compliance necessities and ache factors and consider distributors towards these necessities. Will probably be a lot simpler to amass and begin utilizing an enterprise video platform when you have all of your geese in a row first.
- Submit scripts and transcripts for overview towards compliance wants.
As soon as your group is able to use video, make a transparent organizational chart for the video creation workflow. Preserve it collaborative by making the compliance workforce a accomplice within the course of. Compliance groups can function as a enterprise enabler, supporting the enterprise models by adopting impactful video options. Have workers submit their scripts and transcripts for overview earlier than sending out and sharing any movies to keep away from any compliance points forward of time.
- Archive movies with compliance requirements for potential audit functions.
Likelihood is, your group already has a couple of advertising movies on the market. Do a full audit of all present movies and test them towards all of your compliance requirements. Then, archive them in folders which can be clearly labeled based mostly on trade rules. You now have a concise database so as to add any future movies to to your organizational and potential audit functions.
Instruments to Tackle Video Compliance Considerations
There are some nice instruments on the market to assist your group tackle video compliance issues.
Theta Lake is a man-made intelligence (AI) compliance suite that helps corporations handle the prices and complexity of coping with rules. As your organization creates movies, Theta Lake’s system analyzes them to make sure all compliance points are flagged and addressed earlier than the video is shared. They overview advertising movies, personalised gross sales movies, and video conferences via:
- AI and deep studying that routinely screens audio and visible content material for company compliance, conduct, and regulatory dangers
- A streamlined workflow for compliance groups to overview and supervise video communication
- Compliant long-term archiving for all facets of video communication and
- Enterprise reporting for auditors
Advertising and marketing Movies and Compliance
For advertising groups creating model consciousness movies, compliance wants could be handled properly earlier than any points come up. When the advertising workforce plans for a video, they need to submit a script for compliance overview earlier than manufacturing after which resubmit as soon as the video is filmed to confirm that the script matches the output.
This course of is a decrease elevate for the compliance workforce, as movies produced by the company advertising workforce are often designed for one-to-many distribution (e.g., touchdown web page, web site, advertising emails, social media, and many others.).
Gross sales Movies and Compliance
The script might not exist for user-generated gross sales movies earlier than an advisor or wholesaler creates and shares a video for outreach. Organizations ought to roll out coaching relating to video compliance to all workforce members earlier than anybody begins urgent that report button. Be certain everybody is aware of what they’ll and can’t do approach earlier than making a video, and it’ll save everybody work in the long term.
Ideally, advisors ought to all the time submit a video right into a compliance workflow. For instance, if utilizing Vidyard, when an advisor creates a video, it’s routinely despatched from Vidyard to Theta Lake, and the advisor isn’t permitted to ship out the video till they get the compliance workforce’s stamp of approval.
Safe Video Sharing
Though text-based communication would be the conventional approach of speaking with purchasers and prospects, video sharing can present safer communications throughout. In contrast to text-based communication, video is tougher to repeat and share past the supposed viewers. With the appropriate options, video can simply be protected.
When sharing movies together with your monetary companies purchasers, it is best to think about:
- Enabling password safety
- Setting video entry to “Anybody with the hyperlink can view” or specified IP addresses
When sharing with groups internally, you too can arrange a single sign-on to require logging into an organization account to entry.
Advances made in synthetic intelligence and machine studying allow compliance groups to be extra environment friendly and efficient, making it simpler to satisfy retention and supervision rules of digital content material.
Password Protected Video Sharing
Completely different monetary companies organizations have totally different wants, which is why there isn’t only one approach to defend your movies.
There are a number of methods you may defend your movies whereas sharing them. Take into account the next:
- Solely these with a hyperlink can view the video
- Solely these with a password can view the video
- Solely these on a specified IP (your organization’s IP) can view the video
- Solely these on a specified IP and with the password can view the video
- Solely these which have been licensed via a single sign-on can view the video
Right here’s how one can add password safety for safe video sharing.
Safe Video Sharing Is Right here to Keep
With the transfer to hybrid and distant work, the necessity for safe video is changing into more and more essential for monetary companies corporations. And it needs to be baked into any gross sales and advertising technique shifting ahead. We additionally know that purchasers, particularly these of youthful generations, need digital entry to their monetary companies. As your group continues to make modifications to the way you talk together with your purchasers, keep in mind to maintain the ability of video on the prime of your thoughts.