Wall Street & Technology reports that eight Wall Street firms (CS First Boston, Goldman Sachs, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Salomon Smith Barney, and UBS Warburg) are building out an Instant Messaging network based on Communicator, Inc.‘s secure IM system.
The goals: greater customer convenience, faster communication, and improved efficiency via an archived system that can be audited in case a record of communications is needed.
You mean you can use technology to benefit the clients? And it can tie back to your business model? And comply with regulatory oversight? No way.
If the clients aren’t careful, they could end up demanding this of their law firms too.