Sarah Carter, Actiance Presentation - BDI 4/14/11 Financial Services Social Communications Leadership Forum


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Presentation by: Sarah Carter, VP, Marketing, Actiance

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Sarah Carter, Actiance Presentation - BDI 4/14/11 Financial Services Social Communications Leadership Forum

  1. 1. Social CollaborationEnabling with the Regulator and Risk in MindSarah Carter, VP MarketingActiance, Inc.Confidential and Proprietary © 2011, Actiance, Inc.All rights reserved. Actiance and the Actiance logo are trademarks of Actiance, Inc.
  2. 2. Agenda About Actiance, why am I here? The Communications Revolution isn’t new It’s being led by end users Numerating social Why people want to say no to it… General Regulation Specific Regulation – FINRA, FSA, IIROC, SEBI What happens when you don’t address the risk? Consider what you should enable and control Further reading
  3. 3. About Actiance Enable the New Internet – 4,500+ Web 2.0 apps, Unified Communications, Social Networks Global operations – USA, EMEA, India, Asia/Pacific Market Leader – 9 of the top 10 US banks – Top 5 Canadian banks – 3 of the top 5 energy companies Broadest Partner Ecosystem – Technology alliances
  4. 4. It’s a communications revolution • Public IM • P2P • Anonymizers • VoIP • Financial IM • Social Networks • Unified Communications • Games • Web Conferencing • Virtual Worlds • VoIP • IPTV • Remote Admin Tools Source: Actiance Annual Greynets Surveys 2008 – 2011 & Projected
  5. 5. The charge is led by the end usersActual customer traffic history (~155 organizations)Representing all Internet activity from over 150K end users (Actiance Internet Survey 2009) Source: Actiance Annual Internet Survey 2010
  6. 6. Social Media Statistics 5 hours/month – Average time US worker spends on social media sites at the office 73% - US companies using social media tools for marketing purposes 46% - Internet users worldwide interacting with social media on a daily basis 88% - Growth in social media usage among Internet users aged 55-64 (Apr 2009 – May 2010) 15% - Social media users more inclined to buy from brands advertising on social media 18% - New content found online in social media 30 minutes – Amount of time the average US Internet user watches online video each day Departmentalization of Social Outreach Mobilisation of Social 71,004 Financial Advisors on LinkedIn* (so you need to differentiate!) @Visible Banking tracks social initiatives *with an open Proprietary © 2011, Actiance, Inc. All rights reserved. Confidential and profile that can be marketed to
  7. 7. But there are a series of risks.. Data Leakage Incoming Threats Compliance & eDiscovery User BehaviorPersonal SEC, FINRA,IIROC EmployeeInformation Malware, Spyware Productivity HIPAA, FISMA, SEBIIntellectual Property Viruses, Trojans Bandwidth SOX, PCI, FSACredit Card, Explosion InappropriateSSN FRCP- eDiscovery Content Every employee isClient Records FERC, NERC the face of business
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  9. 9. FINRA Regulatory Notice 10-06:Guidelines for Social Networks Regulation Social Network and Web 2.0 ImpactSEC Rules 17a-3 and 17a-4 andNASD Rule 3110 Retain records of communications related to business Electronic forum & chat rooms, content posted to social media may constitutePublic Appearances a public appearancePrior Approvals Wall postings require prior approvalsParticipation Real-time participation on social networks equals participation For instance communications between research and investment bankingFINRA Regulatory Notice 07-59 departments should be restricted Only those subject to firms supervision should have access, provide trainingRestrict Personnel prior to engagement, prohibit or restrict those who pose a compliance risk. Restrict access with technology.
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  11. 11. What Can Go Wrong? Matrixx stock price– The nasal spray form of cold remedy Zicam, produced by Matrixx Initiatives, has potentially been found to damage some peoples’ sense of smell. Stock price drop from $19.24 that day to $5.78 on June 16th. Its $5.21 now. Do your Research on Fedex & Ketchum Nestle & Greenpeace
  12. 12. Ensuring regulation is met, reducing risk Issue Control RequirementsIdentity management Ensure that all the different logins of an individual link back to corporate identityActivity control Posting of content allowed for marketing but read-only for everyone elseGranular application control Employees can access Facebook, but not Facebook Chat or Facebook GamesAnti-malware Protect network against hidden phishing or Trojan attacksData leak prevention Protect organization from employees disclosing sensitive informationModeration Messages posted only upon approval by designated officerLogging and archiving Log all content posted to social networksExport of data Export stored data to any email archive or WORM storage
  13. 13. More Info?www.actiance.comVisit the Actiance Collateral Library at Questions? @SarahActianceEmail: scarter@actiance.com650 631 6452 (desk)415 806 9504 (cell)+44 (0) 7970 729068 (UK mobile)
  14. 14. Sarah Carter, VP MarketingActiance, Inc. @SarahActiance Pg. 13