Citrix ShareFile Helps Financial Firms Meet Compliance Requirements with New Archiving Capability
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Citrix today announced that ShareFile, the company's popular secure file sharing service, now offers Archiving for Financial Services to help firms comply with data archiving regulations. This offering enables financial services organizations to satisfy their record-keeping requirements under SEC and FINRA rules and avoid costly fines associated with not meeting regulatory requirements. In the past year, customer adoption in the financial sector doubled as more institutions turned to ShareFile for a secure and easy-to-use solution to store and send large files. Today's news helps the company further address the market.
Registered Investment Advisors (RIAs) and Broker-Dealers (BDs) are required to maintain records of customer contact in alignment with archiving regulations. Many use one service to collaborate and share documents that are not covered by archiving laws, while simultaneously maintaining a separate system for their regulated documents. ShareFile simplifies the user experience into one secure solution.
ShareFile Archiving for Financial Services helps users comply with record-keeping requirements, such as SEC and FINRA, by offering retained, indexed, auditable and searchable records of client communications for the period required or longer. Account files, folders, sent messages, active and inactive links and notifications are archived rather than deleted when no longer needed.
Frontier Wealth Management and Pennsylvania Trust are among the first companies to select ShareFile Archiving for Financial Services to help them achieve compliance.
According to Terri McClure, Senior Analyst, Enterprise Strategy Group, "Given concerns about data security, the threat of lost IP (intellectual property), regulatory compliance violations, or worse, Enterprise Strategy Group has long maintained that organizations should increasingly focus on gaining control of individual employees' online file sharing accounts by providing and standardizing on one IT-approved solution for the entire organization."
"Our customers' needs and workstyles inform every design choice that we make," said Jesse Lipson, VP & GM, Data Sharing, Citrix. "Today, it is more critical than ever for financial institutions to maintain access to accurate records of their communications with customers to ensure they remain compliant with industry regulations. ShareFile offers the most complete electronic record keeping solution for compliance on the market, providing customers with the ease and assurance that they can access the data they want when they most need it."
- Video Demo: Introducing Archiving for Financial Services
- Blog: New feature allows ShareFile to help financial firms achieve compliance
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Citrix (NAS: CTXS) is the cloud computing company that enables mobile workstyles—empowering people to work and collaborate from anywhere, accessing apps and data on any of the latest devices, as easily as they would in their own office—simply and securely. Citrix cloud computing solutions help IT and service providers build both private and public clouds—leveraging virtualization and networking technologies to deliver high-performance, elastic and cost-effective services for mobile workstyles. With market leading solutions for mobility, desktop virtualization, cloud networking, cloud platforms, collaboration, and data sharing, Citrix helps organizations of all sizes achieve the kind of speed and agility necessary to succeed in an increasingly mobile and dynamic world. Citrix products are in use at more than 260,000 organizations and by over 100 million users globally. Annual revenue in 2012 was $2.59 billion. Learn more at www.citrix.com.
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