New product capabilities allow companies to set unlimited retention rules across social networks; cut costs associated with data storage; ensure compliance with FINRA regulations surrounding hyperlink capture
Tysons Corner, Va., January 12, 2016 – Social SafeGuard announced today they have released their advanced record retention management and hyperlink capture capabilities.
The new product capabilities allow companies to cut data storage costs and maintain regulatory compliance by setting unlimited retention rules across company communications – including internal and external social, collaboration, and CRM networks. In addition, Social SafeGuard’s advanced hyperlink capture capabilities will allow financial services firms to better comply with FINRA regulations, such as those stated in Regulatory Notice 11-39.
“Record keeping and hyperlink capture are two key requirements from a regulatory compliance perspective,” said Matt Prentis, Vice President of Product Management at Social SafeGuard. “In order to meet these requirements, customers need a robust mechanism to manage the lifespan of their social and CRM content, as well as insight into content their employees are referencing in their social media posts. We are excited at the value our new retention management and hyperlink capture capabilities bring to our customers. Our retention management allows customers to easily build, test, and execute policies that intelligently identify and ‘age-out’ older content. Our advanced hyperlink capture ensures that customers have deep insight into the content of external Web pages referenced in their social posts. These new capabilities complement our existing Social SafeGuard archive and policy management capabilities to deliver a truly comprehensive archive and compliance platform.”
Many regulatory bodies within Financial Services and Life Sciences require companies to maintain records for up to seven years. Maintaining this content in various source collaboration and CRM platforms can result in potentially significant record retention and eDiscovery costs. By allowing customers to customize how long each record is retained, they are able to control unnecessary costs associated with data storage and maintain a cleaner archive of data to assist with audits and eDiscovery. The new retention module also comes complete with support for legal/litigation holds as well as suggested retention periods based on industry, type of content, and regulatory body.
As stated in FINRA Regulatory Notice 11-39, financial services firms must monitor not just what employees and advisors are posting in their comments, but also the content of any third party sites they reference. Social SafeGuard’s advanced hyperlink capture allows customers to properly monitor and archive the content of these referenced third party sites in order to ensure complete FINRA compliance across all social networks. This addition to the platform will not only capture a screenshot of any Web page referenced in a social post, but also capture and assess the content of that Web page for potential security or regulatory risk.
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About Social SafeGuard™
Social SafeGuard enables social collaboration to create competitive advantage while overcoming regulatory compliance challenges, legal threats, and security risk exposure. Social SafeGuard is an award-winning and industry leading solution for social risk management in use by leading companies in the pharmaceutical, retail, consumer and financial services industries. For more information, please visit www.SocialSafeGuard.com.
Media Contact: Kaitlyn Rackens, Marketing Manager, Social SafeGuard, (571) 282-3588, [email protected]
