Early in 2013, Goldman Sachs set out to find an alternative to Bloomberg’s instant messaging service. There were several applications that wanted to be the go to messaging service for Wall Street, but they must maintain a system that can be regulated. Due to security laws it’s unlikely that Wickr’s messaging without a trace will be the financial sector’s instant communication service of the future.
Nico Sell, founder of Wickr would like to see her app become the primary messaging service for Wall Street. The top-selling points of Wickr include the option of sending secret messaging between stockbrokers and traders. The encryption within these messages allows only the receiver to view, and will cut down on government snooping. The sender has the option of setting an expiration date for the message to self-destruct. The no metadata feature allows a sender to remain anonymous, as messages can’t be monitored or tracked. A shredder feature allows the device to rid itself completely of the deleted files. For anyone out there who is terrified by this idea, “…Sell said she's currently devising a system that would allow the SEC limited access to traders' conversations -- but not all at once.” (Pagliery , 2014) Limited access to traders’ conversations is not going to prevent white-collar crime; most likely the SEC would require more.
In a joint venture, big banks are considering an investment in a messaging start-up system called Pervo. Pervo holds the bonus feature of being transformed into what the customer wants. Users won’t be required to adapt to the system, as they have the option to make changes as they see fit. As the Pervo applications are free, there are limited details at this time as to whether the Bloomberg terminals will still be used in the background or as to what the big banks investment in Pervo will include. (Lauren Tara Lacapra, 2014)
For those who give a puck, it’s not so much about erasing a bad decision as it is in the NHL. It’s about having the option to transform instant messaging to work the way they want it to.
Lauren Tara Lacapra, a. J. (2014, 08 03). Exclusive: Goldman group set to buy message system as alternative to Bloomberg - sources. Retrieved 08 06, 2014, from Reuters: http://www.reuters.com/article/2014/08/03/us-goldman-messaging-idUSKBN0G303920140803
Pagliery , J. (2014, 06 27). Secret message app Wickr moves to Wall Street. Retrieved 08 06, 2014, from CNN: http://money.cnn.com/2014/06/27/technology/security/wickr-finance/index.html