smarsh social media in investment banking

MANAGING the risk out of social media communications

Mike PaganiSr. Director, Product Marketingand Chief Evangelist

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What we will cover today

Social Media is the new BYOD-like

“Consumerisation of IT” challenge

Social media communications pre-approval vs. monitoring

& review

Meeting the challenge with the right rules, processes and

technology

• Leading Comprehensive Archive Platform• Member of leaders quadrant in latest

Gartner MQ for Enterprise Information Archiving

• Support for 40+ digital content types

across email, IM, social, mobile, files and web

• Focus on Financial Services and other regulated industries including Lending, Healthcare and Public Sector

• Headquartered in Portland, Oregon with offices throughout the USA and London, UK

• 20,000+ customers with 95% retention

Our company

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The compliance challenge in regulated industries

EMAIL

IM

SOCIAL

WEB

MOBILE

FILES

VIDEOS

2000 2015

The diversity and complexity of electronic communications being used continues to grow year over year

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VOICE/AUDIO

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Usage Statistics

EVERY60 SECONDSON THE WEB(2014 EDITION)

COMPARE TO 2013

Email: 204 Million

Twitter: 278K Tweets

WordPress: 347 Posts

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Compliance beyond EmailAllowance of social channels has grown in financial firms…

• 61% of firms who permit Social Media do not have a supervision/archiving solution in place

• Social providers do not have the same obligations or requirements to preserve the data as firms they serve

• Firms are left on their own to discover and reproduce the data for themselves.

• Typically Firms start to archive this channel when issues arise, such as, fines, sanctions etc.

• When social media starts being archived, the manner in which the social media content is archived and retained falls short of expectations.

• Antiquated systems created solely for email archiving cannot keep up with the ever-changing digital communication landscape.

NOTE: Source data is from Smarsh Annual Compliance Surveys (US FinServ orgs)

UK Regulator landscape is changingGrowing FCA scrutiny:

• Total fines levied in 2014 = 1.47B • Ave. penalty in 2014 (36.79m) = 2.5

X higher than 2013 (9.88m) • Final Guidance 15/04 Social Media &

Customer communications (March 15)

• MiFID II will require complete records of phone and e-communications to be retained for 5-7 years.

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0%10%20%30%40%50%60%70%80%

69%

39%36% 36%

25% 25%

Most Common Electronic Message Types Requested During Last Regulator ExaminationNOTE: Represents UK compliance survey data

More firms allowing social:• Email = 95% • LinkedIn = 72%• Twitter = 60%• Text/SMS = 56%

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UK Compliance Report: compliance gaps for

Social MediaMIND THE GAP!

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MANAGING Personal & Business Personas

Technology Adoption

PhaseINNOVATION EMERGING MAINSTREAM

Corporate/IT Response

Resist and Dismiss/Outlaw

Acknowledge with

Limited Support

Embrace and MANAGE(Risks and Rewards)

SOCIAL MEDIA IS THE NEW “CONSUMERISATION OF IT” CHALLENGE, AND WILL FOLLOW THE SAME ADOPTION CYCLES AS BYOD!

BYOD has evolved to BYOP

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What we will cover today

Social media communications pre-approval vs. monitoring

& review

Pre-approve vs. Monitor/Review?

Key considerations:

• Pros and cons for both approaches • Key stakeholders, use-cases and

technologies• Consequences relative to compliance and

risk

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Companies can use Hootsuite to manage social media campaigns that engage prospects and customers, while using The Archiving Platform™ from Smarsh to facilitate the archiving, supervision, discovery, and production of published social media content.

Hootsuite™ + The Archiving Platform™

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Archiving technology is a key ENABLER

Archiving delivers:• More than just retention and/or uptime• PROACTIVE intelligence during ingestion/indexing• REACTIVE intelligence when searching and reporting

BEYOND backup and continuity solutions…

Search Policies

Cases Admin

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Automate for maximum efficiency and effectiveness

• API integration with social media channel partners• Fine-tuning of policies reduces false-positives • Built-in audit trails for every step in the process

Archiving technology has evolved…

Challenge: Bringing order to the chaos

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Logical organisation of data into smaller, valuable units

Jane

MichaelSam

Matt

Eric

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What we will cover today

Meeting the challenge with the right rules, processes and

technology

• Queues• Team-based

reviewer workflows

Supervision+• Faceted search• Enhanced case

management

Discovery+• Compliance review workflow• Extends core platform

interfaces and capabilities to web content

Web Archiving+

Purpose-built

workflowsSearc

hPolicies

Cases Admin

Core Platform Features

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Supported content types &

strategy Email VideoIM Social WebMobile Audio Files

Search

Policies

Cases Admin

Core Platform Features

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Comprehensive Archive Platform solution category

Forrester Research established the following categories for archiving solutions in its May 2015 report: “Market Overview: Information Archiving, Q2 2015”• Social Media Specialists• Email and Messaging Specialists• Content Specialists• Comprehensive Archive Platforms

Today’s archiving technology options

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Thank you