SOURCE: Socialware

Socialware

August 27, 2013 08:00 ET

Socialware Continues Growth Momentum in Second Quarter 2013; Adds Foresters as Customer

Leading Social Business Platform Adds New Enterprise Customers and Expands Existing Accounts; Secures Two New Technology Patents

AUSTIN, TX--(Marketwired - Aug 27, 2013) - Socialware, the leading social business solution provider for regulated industries, today announced that it experienced continued revenue and customer growth during the second quarter of 2013. In addition, Socialware was issued two new technology patents, demonstrating continued innovation and leadership in the technology it offers the market.

Socialware's products are designed to support large enterprise-wide deployments for regulated firms who are looking to use social media to grow their business. During the second quarter, Socialware added three new enterprise customers to its portfolio, including life insurance provider Foresters™. Socialware is the only platform that offers a solution for archiving all social media activity as well as access to the native social sites with complete and granular administrative controls over features on Facebook, Twitter and LinkedIn. Socialware also has a full suite of marketing capabilities that enable marketers and financial professionals to deliver content campaigns on social media. These capabilities include a complete dashboard of analytics that are critical to measure and track success. It's the comprehensive solution that Socialware provides that made it the right choice for these large financial firms, like Foresters, to choose Socialware and to join the more than 160 customers Socialware already serves.

"One of the exciting things about the second quarter was that the majority of our revenue came from existing accounts," says Bruce Milne, chief marketing officer for Socialware. "Our customers' projects are successful and expanding, so they're adding new users by the hundreds each week. We are also seeing a significant increase in Professional Services engagements as customers take advantage of our experienced team in their enterprise rollouts. The quarter also underscored the importance of a solution with strong compliance and analytic marketing features as FINRA began enforcing social media regulations for the first time. It's an exciting and dynamic time in our market." 

"While many factors went into the decision, Socialware was selected primarily based on the positive experience of First Investors Corporation, our U.S. broker dealer," says Stephen Cheeseman, Foresters vice president, associate general counsel and U.S. compliance officer. "We also felt it would be a good fit with Foresters U.S. and Canadian insurance channel distribution needs."

Building upon its technology leadership, Socialware was granted two additional patents in the second quarter. Patent number 8,495,709 covers the process of sending a message securely to other members within an enterprise through the social networks. Patent number 8,504,681 covers the process of continuously and adaptively monitoring and filtering traffic to and from social networking sites. This means that firms can be assured that the technology Socialware uses is aware of and adapting to the constant changes made by the social networking sites. These patents ensure continuous regulatory compliance and adherence to internal policies in a rapidly changing environment.

"2013 is proving to be a year of tremendous growth for Socialware," continues Milne. "This is due in part to the maturation of social for regulated industries -- firms understand that social is a critical tool in customer acquisition and relationship building, and they need a way to do it that allows them to remain compliant with industry regulations. But the growth we've experienced is also in part to the unique benefits we bring to the market like a full scale Professional Services team, the broadest level of compliance and marketing features, the flexibility and configurability we provide to customers, and the level of enterprise support we provide to activate the entire enterprise on social. Socialware continues to set the standard for social business in regulated industries."

About Socialware
Socialware provides industry-leading software and services for regulated industries to securely and compliantly market through social media, and to generate business through relationships with customers and prospects on Facebook, LinkedIn, and Twitter. Socialware is a trusted technology partner to more than 160 of the leading financial services and retail banking firms in the U.S.

About Foresters
Foresters™ is a life insurance provider with a difference. The fraternal benefit society, founded in 1874, supports family well-being through quality products, unique member benefits and inspiring community activities. Foresters shares its financial strength with over one million members in Canada, the United States and the United Kingdom. Foresters has assets of $9 billion with liabilities of $7.5 billion resulting in a surplus of $1.5 billion1 (all figures in Canadian dollars as of December 31, 2012) and maintains an "A" (Excellent) rating by A.M. Best2. For more information, visit foresters.com.

Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.

1This surplus represents excess funds above the amount required as legal reserves for insurance and annuity certificates in force and provides additional assurances to our members for Foresters long term financial strength.
2An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning Foresters rating on July 3, 2013, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest rating.

About First Investors
Since 1930, First Investors has been providing financial solutions. We offer competitive investment, life insurance and annuity products. Our parent organization, Foresters™, was founded in 1874 and is an international life insurance provider that is member-based, family-focused and community-spirited. Together the two firms have more than 220 years of experience helping individuals and everyday families reach their financial goals.

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