- ProductsCompliant Messaging
Message clients without sacrificing compliance
The non-compliant use of messaging platforms has led to billions in regulatory fines. Symphony helps enable seamless compliant messaging with clients via WhatsApp, WeChat and SMS
OverviewEnable surveillance and recordkeeping of clients’ preferred messaging platforms
SMSEnable maintenance of SMS communication records for regulatory compliance
Core CollaborationSecure, seamless cross-firm communication
The only fully open, scalable, and secure collaboration platform purpose-built for global markets – enabling efficient workflows and compliant communication
PlatformSuite of modular collaboration capabilities accelerates communication
Embedded CollaborationLeverage Symphony’s capabilities in your platforms and portals
Security & ComplianceSecure, compliance-enabling framework meets the stringent needs of markets
VoiceCloud-based voice collaboration
Compliance-enabling and scalable voice technology maximizes efficiency by defragmenting communication and connecting traders and trader-adjacent teams instantly
Cloud9Eliminate communication silos and provide instant voice connectivity
Instant VoiceCross-organizational solution native to Symphony and built for speed
Cloud9 DeskTrader-adjacent connectivity with global intercom across internal teams
Cloud9 TraderFull-featured turret replacement with maximum external connectivity
VideoStart and join video meetings from Symphony
Facilitate productivity, collaboration and effective co-working with leading video conferencing platforms integrated alongside Symphony chats and rooms
ZoomKeep collaborating in Symphony while joining or hosting Zoom meetings
Microsoft TeamsRetain Symphony workflow context during Teams Video meetings
IntegrationsEssential tools to streamline workflows
Connect your everyday systems to Symphony to improve efficiency, reduce context switching and mitigate manual tasks
Enterprise IntegrationsEnterprise software bi-directionally integrated with Symphony
Apps & Bots415+ apps and 2K+ bots to help streamline and automate workflows
- Insights
- Company
- AboutThe only secure and compliance-enabling collaboration platform built for markets
- LeadershipSymphony’s global executive team driving the company forward with purpose
- PartnersA network built to bring connectivity to the global financial markets community
- CareersAvailable opportunities to join the Symphony team in offices around the globe
- News, Press & EventsThe latest press releases, media and events featuring Symphony
- Support
- Contact Us
- Join the Ecosystem
Balancing Security and Business Continuity
- August 12, 2019
- Ken Yagen
- Innovation

In an effort to protect against certain security risks, companies can inadvertently create new ones
One of the more curious news items circling on the internet recently includes this story about a young crypto trader who passed away sadly and suddenly – and with his death, the password to $190 million worth of his clients’ money was lost.
Because of the nature of the cryptocurrency industry, many companies use offline wallets and secure messaging tools to keep data safe. Companies sometimes turn to consumer security solutions for good reason: the cloud can be an unsafe place to store things like millions of dollars, and consumer tools have historically provided stronger and more robust end-to-end encryption than enterprise solutions. In this case, however ironic, it’s exactly because QuadrigaCX’s CEO used personal consumer encryption tools that millions of dollars are now unrecoverably locked away.
A Tricky Balancing Act
This story underscores how much the tech industry is still struggling to balance security, privacy, and business continuity. Unexpected things can happen at any time. Founders can die, hard drives can be lost. And while private security tools can be useful in personal contexts, businesses should think carefully before entrusting critical information or assets to a single person.
All this to say: businesses need a robust way of maintaining access to their own information. They need backup access, even when it is encrypted. Otherwise much is at risk. To put it another way: losing access to information can be just as disastrous as having it stolen by hackers. In this case $190 million has essentially disappeared. This money is just as lost to it’s owners as if it had been hacked, and the company is still on the line fiduciarily and reputationally. What’s the real difference if the outcomes are the same?
Ensuring Security, Privacy and Continuity
So how do security focused companies – like those in cryptocurrency – balance demanding and essential cybersecurity needs while still retaining access to business records?
One option is to employ a solution that provides end-to-end encryption – ensuring that even hacked data can’t be read – while simultaneously storing keys with the company on-premise. It’s at this crossroads that Symphony lies, and why we’re trusted by many of the world’s top financial institutions.
There are so many security options out there today – including those targeted just at consumers. But just because a consumer app has true end-to-end encryption doesn’t mean it’s good for a company to start using it. That’s why it’s worthwhile for businesses to put some thought into business continuity as well as strong security. Businesses need the protection of strong encryption, and there are solutions that can provide this protection while also retaining robust access to a company’s own encrypted records. Most times, this means using a combination of encryption and on-premise key storage.
As of yet, there’s still $190 million tied up – lost in cold storage – and there are some confused crypto customers are still waiting to get their funds back.