For some regulated industries like finance, social business can become a social headache. To lessen that headache, Actiance’s Vantage flagship product for compliance management of all social business channels provides audits, content inspection and archiving, and now the company is out with its 2013 version.
New features include support for Microsoft Lync 2013 and IBM Connections 4.5, enhanced support for social networking tool Jive with real-time event capture and direct archiving to Symantec Enterprise Vault. Because of regulatory and government requirements, capture and control of conversations has now become a must-have for certain industries, and the 2013 version also now includes control and recording of Lync VoIP calls.
The VoIP captures include two-party and conference calls as well as metadata, and the Lync support provides controls for IMs, voice and persistent chat. The Jive event captures cover posted, modified or deleted content across blogs, documents, direct messages, status updates and attachments.
Vice President of Product Management for Actiance, Scott Whitney said in a statement that, as the recent LIBOR scandal of alleged inter-bank price fixing shows, “the ability to go back through communications for electronic discovery and compliance requirements is vital.” These kinds of records, he said, can help “legal and compliance teams plot a strategy and understand who’s responsible.”
Dodd Frank Compliance
Whitney added that the 2013 version allows social business practices to be adopted “with confidence to control who can do what,” by making “discovery and litigation easier and less costly.”
Regulatory guidelines in many countries treat social business channels as another form of electronic communication, and companies in regulated industries like banking or energy can find themselves needing to respond quickly to discovery requests or regulatory inquiries. The company said that Vantage 2013 reduces the risk of regulatory fines and the risk of litigation through the capture and retention of social conversations over any channel, satisfying the requirements of Dodd Frank and FINRA in the U.S., FCA and MiFID in the U.K., and IIROC in Canada.
Title image from Actiance Website