SOURCE: Hearsay Social

Hearsay Social

December 10, 2015 09:00 ET

Hearsay Social Innovates, Advances Industry-Leading Compliance Solution for Global Financial Services and Insurance Firms

Provider of Predictive Omnichannel Suite Introduces Powerful New Compliance Functionality, Secures Two Patents

SAN FRANCISCO, CA--(Marketwired - December 10, 2015) - Hearsay Social®, provider of the Predictive Omnichannel Suite™ (#omnichanneladvisor) for financial advisors and insurance agents, today announced several new advancements to its enterprise compliance solution to provide additional risk controls and increased efficiencies for compliance teams across social media, Web and mobile. The new features help global financial services and insurance companies enforce their proprietary policies while increasing productivity.

"Managing brand governance and regulatory compliance for distributed field organizations can be challenging, especially as communication channels evolve and new ones emerge," said Steve Garrity, Hearsay Social founder and COO. "Given our close relationships with leading financial and insurance firms and all the major social networks, Hearsay Social is continually enhancing its enterprise compliance platform, providing best-in-class technology that no other company can offer today."

The company has secured two patents granted by the United States Patent and Trademark Office (USPTO) for unique functionality in support of social media compliance for financial services organizations. U.S. Patent No. 9,070,110 and U.S. Patent No. 8,914,454 pertain to "identification of unknown social media assets" and "verification of social media," respectively.

Hearsay Social's new compliance enhancements include:

  • Patented Rogue Social Account Finder: Companies can now efficiently identify advisors and agents who are doing business on social media out of compliance with industry regulations or company policy. The patented Rogue Social Account Finder makes it possible for companies to find an individual's social media accounts, such as Facebook Pages, Twitter handles and LinkedIn profiles, that are representing the company but not approved by the company's policy or process.
  • Patented Data Verification: With social networks constantly changing the way their data is accessed, ensuring the accuracy of that data can be challenging. To increase the accuracy of data used for compliance and analytics purposes, Hearsay Social's patented data verification technology and process provide powerful checks and balances to confirm the information accessed via social network APIs (application programming interface).
  • Visualized Change Management for Text Fields: Many financial services companies have a policy to review any changes that advisors make to their websites and social media pages, yet identifying and understanding a change when looking at two versions side-by-side can be difficult and time consuming. The new change management solution from Hearsay Social visibly highlights edits in text fields, so compliance teams can quickly, clearly compare requested copy changes to existing content. To get additional context, compliance professionals can compare new text to historical versions from that user with just one click.
  • Customizable Supervision Dashboards: With the launch of the Universal Supervision dashboard earlier this year, Hearsay Social delivered unprecedented visibility and control to compliance teams. Hearsay Social now offers enhanced customization and saved search functionality with custom supervision dashboards, which allow compliance professionals to create and save supervision views that they use most often, and pull them up with one click. This saves time and enables them to consistently supervise areas that require active monitoring.
  • Flexible Lexicon Supervision Controls by Activity and Region: Different activities across social networks, websites, email and text messaging require different controls. For example, a company may want to receive alerts when an advisor uses a specific word in a tweet, but not when the same term is used in a profile. Hearsay Social now offers the ability to add and manage lexicon terms by activity type, limiting alert and approval queues to actions that violate policy for each distinctive activity type.
  • Lexicon Support Across All Languages: Hearsay Social has expanded its compliance solution to support any Unicode type, so companies can now include non-Roman characters in their lexicon lists and receive supervision alerts based on infractions in any language, including Chinese, Japanese and Thai. The Predictive Omnichannel Suite for advisors is available in more than 15 languages to support Hearsay Social's growing set of international clients.

More Information

The new compliance functionality is available now as part of the Hearsay Social enterprise platform. Visit the Hearsay Social blog for more details on the new compliance features and two patents.

About Hearsay Social

Hearsay Social provides the Predictive Omnichannel Suite for financial advisors and insurance agents across the world's largest financial institutions, including seven of the top 10 global financial services companies and leading firms such as New York Life, Raymond James, Vanguard and Penn Mutual. Hearsay Social powers more than 115,000 financial relationship managers worldwide, allowing them to engage today's social, mobile customer through Facebook, LinkedIn, Twitter, Google+, mobile-first websites, personalized email and text messages. Advisors receive unique client insights through multi-channel signals, and the Predictive Content Library makes it easy to share the right content at the right time. Built-in enterprise integration and governance powers compliance and supervision for global firms, seamlessly addressing industry regulations and enforcing policy.

Hearsay Social is a SIFMA strategic partner, LIMRA Elite Strategic partner and GAMA partner, and has raised $51 million from Sequoia Capital, NEA and private investors. Named a 2015 CNBC Disruptor and a 2015 Best Place to Work in the Bay Area, the company is headquartered in Silicon Valley with dedicated local presences in New York, Chicago, Atlanta, Austin, Toronto, London, Paris and Hong Kong.

Stay up-to-date on the latest Hearsay Social developments and news in social business and financial services by visiting the company's blog, as well as its Facebook, Twitter, LinkedIn and Google+ pages.

Hearsay Social and the Hearsay Social logo are trademarks or registered trademarks of Hearsay Social, Inc. or its subsidiaries worldwide. © 2015 Hearsay Social, Inc. All rights reserved. All other trademarks are the property of their respective owners.

Contact Information