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by Steven Arons and Ambereen Choudhury
13 January 2017, 16:13 GMT
Deutsche Bank AG has banned text messages and communication apps such as WhatsApp on company-issued phones in an effort to improve compliance standards.
The functionality will be switched off this quarter, chief regulatory officer Sylvie Matherat and chief operating officer Kim Hammonds told staff in a memo on Friday. Unlike e-mails, text messages can’t be archived by the bank, said a person with knowledge of the matter who asked not to be identified discussing internal matters.
“We fully understand that the deactivation will change your day-to-day work and we regret any inconvenience this may cause,” Matherat and Hammonds said in the memo obtained by Bloomberg. “However, this step is necessary to ensure Deutsche Bank continues to comply with regulatory and legal requirements.”
The policy also applies to private phones used by employees for work purposes. Communication apps such as WhatsApp, Google Talk, iMessage are also prohibited, the memo said.