Livelink Solution for Financial Services Targets Regulatory Compliance

May 13, 2003

Open Text Corporation, provider of Livelink, a collaboration and knowledge management software for the enterprise, will launch a Livelink solution to help financial institutions manage information in the face of tough new industry regulations. The solution will give companies a Web-based regulatory compliance infrastructure they can deploy to track, report, and manage all the documents and data required for compliance, as well as manage employee training, licensing, and certification. The solution is designed to meet the needs of financial services customers facing new rules legislated in the wake of the September 11th terrorist attacks and last year's corporate accounting scandals. With the increased regulations, managing complicated reporting, record keeping, and administrative requirements have become a priority to ensure compliance and reduce risks. Open Text's solution combines Livelink's collaboration and knowledge management features with new capabilities Open Text has added to Livelink for employee education, licensing and certification designed specifically for the financial services industry. The licensing and certification technology, acquired as part of Open Text's recent purchase of EDC Solutions from Knowledge Park Technologies, Inc., is a learning management solution in financial services, with some 25,000 seats deployed at customers such as the RBC Financial Group, RBC Dain Rauscher, BMO Nesbitt Burns, Dundee Wealth Management, and RoyNat Capital.