Actiance moves social-media archiving to the cloud

Tech firm’s Alcatraz launch lets financial firms track online conversations across social media

Jan 27, 2014 @ 10:59 am

By Joyce Hanson

Social-media-technology firm Actiance Inc. on Monday announced the launch of Alcatraz, a cloud-based archive that lets financial firms track conversations across social media and determine whether they are compliant.

Alcatraz’s “context-aware” governance platform sits between users and communication networks, tracking conversations and deals as they happen via social-media sites such as LinkedIn and Facebook as well as voice calls, e-mails and instant messaging.

Scott Whitney, Actiance’s vice president of product management, said the active compliance review that Alcatraz offers is designed to stop the sort of “persistent chat” that went on between financial firms during the 2012 Libor interest-rate-rigging scandal.

“We sit in the middle and record all the chat that’s going by,” he said, adding that Alcatraz allows trading-floor supervisors to block “money in motion” events that don’t meet acceptable use policies.

Alcatraz is now in beta with a couple of large banks and will be available in April. The cost will be a flat fee of $7 per month per user.

The new archive retains and retrieves social-media content, including edits and deletions. Alcatraz follows the thread of an online conversation and can reproduce the context of that conversation and link it to e-mails. It also can replicate what a blog or discussion board looked like at a particular point in time.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

What's the top issue on advisers minds?

Laura Pierson from Carson Group discusses how the old topic of 'Human Capital' is hot again because of millennials.

Latest news & opinion

New ways to pay for college

Experts respond to real-life scenarios of people struggling to afford higher education.

Best- and worst-performing sector funds and ETFs this year

A rising tide may lift all ships, but a bull market doesn't lift all stock sectors. Here are the best- and worst-performing sectors this year, with the top and bottom fund in each sector.

Supreme Court ruling on SEC judges unlikely to upend advice industry

But it could give rise to new hearings for some advisers who are already in litigation with the agency such as Dawn Bennett.

It's official: DOL fiduciary rule is dead

The 5th Circuit Court of Appeals issued a mandate Thursday making its March 15 decision to strike down the regulation effective.

Advisor Group acquires Signator Investors and plans on folding it into Royal Alliance

Advisor Group takes 'orphan' broker-dealer off the hands of John Hancock Financial Services.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print