Not only does this year’s FINRA event promise attendees the opportunity to learn the latest innovations for collaborating and innovating in ways that safeguard investors and firms; Micro Focus is inviting attendees to take a sneak preview into a new archiving and supervision product that brings significant improvements to the high performance and intuitive user experience of Digital Safe, optimizes operations for social collaboration, and is accessible to an expanded range of small to medium enterprises and organizations.
The Transformation of Compliance Archiving
The past decade has seen a radical transformation of compliance archiving and supervision, two staples for organizations in highly regulated market segments. One development drives this transformation: social collaboration now defines business communication.
Social collaboration – a combination of social media and collaboration platforms – has now been fully embraced by businesses. Not surprisingly, the growing use of these platforms now strains organizations’ capacities to manage compliance archiving and supervision. Each platform (or channel) offers slightly different tools and conventions; each uses a different set of interfaces. Moreover, it’s a hypercompetitive market, with vendors aggressively adding new features in their drive to capture critical market share. New features can appear as frequently as monthly on some widely used platforms, and often with little to no advance notification.
These factors combine to create numerous challenges for companies and organizations in highly regulated market sectors, including how to capture social collaboration data meaningfully, how to search and analyze it, and how to conduct supervision operations with it, in addition to how to manage the explosive growth of corporate data it brings.
At the same time, the list of regulatory authorities and information governance rules continues to expand. Enterprises of all sizes are now subject to the same kinds of compliance risks previously faced by financial, insurance, and securities firms. The European Union’s GDPR, in asserting for the first time the ownership and control of personal data belonging to the subject of that data, spawned the passage of similar laws in non-EU countries and smaller jurisdictions. One of these is the State of California, whose 2018 California Consumer Privacy Act (CCPA) grants consumers similar rights to their personal data that GDPR does.
In parallel with this expansion of Information Governance regulations and regulatory authorities, the nature of business communication has shifted from an email-centric culture to a much more heterogeneous and dynamic environment increasingly defined by social collaboration, a mix of social media and collaboration platform data. Thus, while regulatory pressures continued to ramp up for organizations of all sizes and across multiple sectors, the number of compliance risk vectors they need to manage has exploded.
A New Solution
To help our customers manage against these convergent trends, Micro Focus has been developing a solution to deliver the benefits of high-performance archiving and streamlined supervision long associated with our flagship Digital Safe portfolio that’s optimized to streamline compliance operations for the diversifying mix of social collaboration and email data. Even more exciting, we’ve found a way to do this with a cost model that’s just right for mid-sized enterprises. The solution offers a modern, cloud-native social collaboration-optimized compliance archiving and supervision experience that perfectly combines precise search and supervision review accuracy and a new, easy-to-use interface built for breakthrough workflow efficiencies. Always implemented and managed with an eye towards compliance, thanks to the experts at Micro Focus.
Join Us at FINRA
Have you been looking for an integrated, cloud-based compliance archiving and supervision solution that truly aligns with the scale of your business? Come visit the Micro Focus booth at FINRA 2021, where you can talk to our archiving and supervision experts and get a sneak preview of the forthcoming product’s search, export, supervision, and analytics capabilities.
Unable to attend FINRA this year? No worries! Send us an email at AskArchiving@MicroFocus.com to request information about this exciting new product and to schedule a live, personalized demo.