Orchestria, a provider of real-time visibility and control solutions for email, the Web, instant messaging, and handheld devices, has published a report on how poorly managed electronic communications present a serious operational and financial risk to the global banking industry.
As well as potentially breaching regulatory requirements, the lack of supervision of email and other unstructured electronic communications has created an environment in which employee theft of company information is rife, according to survey findings outlined in the report. Companies also face massive costs when attempting to locate past communications in unstructured data storage devices such as magnetic tape, making it difficult and expensive to retrieve specific email and instant messaging (IM) electronic conversations in the event of an internal or regulatory investigation.
The report includes an end-user case study authored by Debra Logan of analyst firm Gartner. It explores the approach taken by a global investment banking corporation towards mitigating the risks inherent in unstructured communications. The bank is using Orchestria's Active Policy Management (APM) software solution to monitor and manage electronic communications for compliance with internal policy and with regulations governing the financial industry.
The 16-page report, "Managing The Information Life Cycle For Maximum Return On Investment‚" is available to download free of charge.