Wells Fargo secures a stake in Theta Lake, which involves delivering compliance and security for voice, modern chat, and video collaboration tools.
On the business front, Theta Lake is gaining momentum and spotlight in the hybrid working trend shining across Wall Street. Further, this helps a company add employee strength and divide their time between work from home and workplace by deploying sophisticated tools to chat with co-workers and clients.
The company has partner integrations with 40 plus vendors, including the likes of Microsoft Teams, Cisco Webex, RingCentral, Zoom, and Slack, delivering compliance teams with archive access to voice, video, chat, and document content in what is shown, spoken, typed, and shared during collaboration sessions.
Theta Lake now unites with 28 other portfolio firms in the Wells Fargo Startup Accelerator that works toward developing upcoming technologies to achieve innovations for financial services.
Additionally, startups are qualified to receive funding up to USD 1 million, along with guidance from Wells Fargo business and technology leaders to support business growth.
The expert’s take
John Bradford, Global Head of Enterprise Collaboration and Senior VP, Wells Fargo, commented: “Having a game-changing compliance disruptor like Theta Lake join the Wells Fargo Startup Accelerator gives them access to the expertise and scale of Wells Fargo to drive effective innovation to businesses.”
He added, “Modern chat, video, and voice collaboration tools have become primary communication and information sharing vehicles for organizations like Wells Fargo. Theta Lake will allow us to further expand our ability to introduce additional innovation around compliance and security for the next generation collaboration toolsets as this is something we have done and continue to do.”