BLOOMBERG LAUNCHES REAL-TIME COMPLIANCE WITH BLOOMBERG VAULT
More than 160 financial services firms have adopted Bloomberg Vault
Bloomberg Vault reduces costs and burdens of message archiving
New York, January 31, 2010 -- Bloomberg, the leader in financial services messaging, today announced a new real-time search and analytics console for Bloomberg Vault, the first compliance solution to integrate real-time monitoring, search analytics, and archiving of Bloomberg messaging and corporate email. Bloomberg Professional® service executives made the announcement at the LegalTech® conference where they are exhibiting at booth #432.
"Selecting the right service provider for important compliance, archiving, and eDiscovery processes is critical," said Andrew Wels, chief compliance officer and associate general counsel at Cantor Fitzgerald. "We leverage Bloomberg's proven and cost-effective compliance solutions such as Bloomberg Vault to help stay on top of the ever-changing regulatory environment. Bloomberg's real-time search and content analytics allow our firm to quickly respond to legal and regulatory requests."Bloomberg Vault is a hosted solution with compliance retention services, active policy management, extensive search capabilities, analytics and information governance for corporate email and instant messages, as well as all messaging content on the Bloomberg Professional ® service. “Financial services companies face growing challenges coping with new regulatory requirements, rising litigation risks and swelling volumes of communications,'' said Harald Collet, global business manager of Bloomberg Vault. "As a leader in messaging, we have the experience and expertise to offer an easy, cost-effective and secure way to monitor, search and store their critical information.”
The new Bloomberg Vault leverages the reliability, security and scalability of Bloomberg's global private network, including biometric authentication of users for security and redundant data centers for disaster recovery. Key Bloomberg Vault functionality includes:
- Support for all enterprise messaging, including Microsoft Exchange email and corporate instant messaging together with Bloomberg messaging data
- Real-time policy management that can automatically supervise communication against pre-defined rules, identifying messages that may require further review.
- Review consoles to manage the entire compliance workflow, including advanced search, policy management, sampling, stamping, escalation, and comprehensive reporting.
- eDiscovery, retention, and legal hold, which allow companies to manage retention with customized policies, support eDiscovery processes, ensure chain-of-custody, and avoid inadvertent deletion of potentially responsive data with compliance storage.
"We have been able to replace our in-house deployed legacy archiving and compliance systems with a fully hosted solution from Bloomberg Vault for all our corporate electronic communications," said Andy Birdsell, vice president of information technology at Incapital. "The integrated real-time search, analytics, and industry-specific policy management gives us instant access to all our content in one place. We have significantly reduced our costs and improved compliance by consolidating with Bloomberg."
Subscribers to the Bloomberg Professional® service may access Bloomberg Vault at BVLT . Non-subscribers can get more information by contacting Bloomberg Vault sales by calling +1-212-617-6580, emailing vaultsales@bloomberg.net or by visiting http://www.bloomberg.com/solutions/bloomberg_enterprise/bloomberg_vault/
About Bloomberg
Bloomberg is the world’s most trusted source of information for financial professionals and businesses. Bloomberg combines innovative technology with unmatched analytic, data, news, display and distribution capabilities, to deliver critical information via the Bloomberg Professional service and multimedia platforms. Bloomberg's media properties span television, radio, digital and print, making up one of the world’s largest news organizations with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries.
By Guest Blogger: Bloomberg
