SAN FRANCISCO, CA--(Marketwired - May 19, 2014) - Hearsay Social, provider of the leading social business platform for the financial services industry, today announced an expanded partnership program with global leaders in security and compliance, including Autonomy, Daegis AXS-One, Presensoft, Proofpoint, and Symantec, to provide customers with the easiest to implement and most scalable social media archiving and compliance solution.
Regulations established by the U.S. Securities and Exchange Commission (SEC) require that financial services firms keep a record of broker dealers' and investment advisors' social media activity in a Write-Once-Read-Many (WORM) archive. Hearsay Social has expanded its partnership program with the industry's leading archiving providers to flexibly integrate with customers' existing WORM archiving systems, eliminating the need for complex custom integrations.
"With so many conversations happening between our reps and clients on social media, it is essential for our organization to work with partners who have a reliable system for storing and managing those conversations," said Patrick Cuillo, Compliance Officer at Raymond James. "Easily integrating with our existing systems, Hearsay Social allows us to manage social media communications happening across the company."
Hearsay Social captures social media activity, including public and private messages, engagement activities (likes, posts, comments, retweets, etc.), profile changes, as well as workflow and approval history. The social activity that is captured through Hearsay Social is simple to set up and uniquely organized by conversation structure so that auditors can easily review with the full context of an activity or conversation.
All of this is achieved without additional burden on an IT infrastructure. Hearsay Social captures social media activity and sends it to customers' existing archiving solution to enable unified e-discovery and audit tooling on top of existing communication channels, rather than introducing yet another system of record for legal and compliance to oversee and maintain.
This complete solution allows customers to intelligently store and manage all records of digital activity, including social media activity, infractions, and a record of workflow history, in a single system while providing an easy and intuitive monitoring and review process through Hearsay Social.
"In order to deliver an advanced solution for financial advisors to be successful on social media, Hearsay Social must help firms address regulatory compliance at massive scale," said Ron Piovesan, Vice President of Strategic Alliances, Hearsay Social. "The partnerships that we have in place with leading archiving solutions allow customers to implement enterprise-wide social business initiatives with Hearsay Social while leveraging their investments in technology and compliance."
In addition to partnering with enterprise archiving providers, Hearsay Social also maintains partnerships with the social networks, including Facebook, Google+, LinkedIn, and Twitter, as well as industry associations, including Efma, LIMRA, and the Securities Industry and Financial Markets Association (SIFMA).
Today's announcement was unveiled at the FINRA Annual Conference in Washington, D.C. Read more about the event and today's news on the Hearsay Social blog.
About Hearsay Social
Hearsay Social empowers global financial services teams to efficiently and successfully use social media to attract prospects, retain customers, and grow business. The enterprise-ready solution helps agents and advisors quickly and easily move beyond yesterday's relationship building tactics and to get found and strengthen relationships with social media. Tens of thousands of financial services professionals worldwide use Hearsay Social every day to hear and respond to everything their customers and prospects are saying on top social networks, including Facebook, LinkedIn, Twitter, and Google+. The Hearsay Social platform boosts advisor and agent productivity while enabling brand integrity and compliance for even the most regulated industries.
Hearsay Social, a LIMRA Elite Strategic partner and SIFMA strategic partner, has raised $51M from Sequoia Capital, NEA, and top executives from Facebook, Twitter, and Google, and is headquartered in Silicon Valley with dedicated local presences in New York, Chicago, Atlanta, Austin, Toronto, and London.
Hearsay Social Blog: http://hearsaysocial.com/blog/