The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bloomberg Launches Real-Time Compliance with Bloomberg Vault

Bloomberg today announced a new real-time search and analytics console for Bloomberg Vault, the first compliance solution to integrate real-time monitoring, search analytics, and archiving of Bloomberg messaging and corporate email.

Bloomberg Vault capitalises on Bloomberg’s long track record in messaging and compliance to help financial firms and corporations meet increasing compliance, regulatory and eDiscovery requirements, while reducing costs. More than 160 financial services companies have adopted Bloomberg Vault, highlighting the market demand for secure and scalable, hosted information governance.

“Selecting the right service provider for important compliance, archiving, and eDiscovery processes is critical,” said Andrew Wels, chief compliance officer and associate general counsel at Cantor Fitzgerald. “We leverage Bloomberg’s proven and cost effective compliance solutions such as Bloomberg Vault to help stay on top of the ever-changing regulatory environment. Bloomberg’s real-time search and content analytics allow our firm to quickly respond to legal and regulatory requests.”

Bloomberg Vault is a hosted solution with compliance retention services, active policy management, extensive search capabilities, analytics and information governance for corporate email and instant messages, as well as all messaging content on the Bloomberg Professional service.

“Financial services companies face growing challenges coping with new regulatory requirements, rising litigation risks and swelling volumes of communications,” said Harald Collet, global business manager of Bloomberg Vault. “As a leader in messaging, we have the experience and expertise to offer an easy, cost-effective and secure way to monitor, search and store their critical information.”

The new Bloomberg Vault leverages the reliability, security and scalability of Bloomberg’s global private network, including biometric authentication of users for security and redundant data centres for disaster recovery. Key Bloomberg Vault functionality includes:

• Support for all enterprise messaging, including Microsoft Exchange email and corporate instant messaging together with Bloomberg messaging data

• Real-time policy management that can automatically supervise communication against pre-defined rules, identifying messages that may require further review.

• Review consoles to manage the entire compliance workflow, including advanced search, policy management, sampling, stamping, escalation, and comprehensive reporting.

• eDiscovery, retention, and legal hold, which allow companies to manage retention with customised policies, support eDiscovery processes, ensure chain-of-custody, and avoid inadvertent deletion of potentially responsive data with compliance storage.

“We have been able to replace our in-house deployed legacy archiving and compliance systems with a fully hosted solution from Bloomberg Vault for all our corporate electronic communications,” said Andy Birdsell, vice president of information technology at Incapital. “The integrated real-time search, analytics, and industry-specific policy management gives us instant access to all our content in one place. We have significantly reduced our costs and improved compliance by consolidating with Bloomberg.”

Related content

WEBINAR

Recorded Webinar: Fighting fraud and financial crime with RegTech

Financial fraud and crime continue to escalate causing significant damage to companies, countries and the global economy despite enormous efforts by firms and organisations in the financial services sector to identify and expel bad actors. As these bad actors use increasingly sophisticated techniques to break into financial institutions and extract both money and data, so...

BLOG

The Great and the Good Gather for A-Team’s RegTech Virtual Event This Week

The global RegTech community gathers virtually this week for A-Team’s RegTech Summit Virtual, which kicks off on Wednesday. Over its two-day programme of must-attend sessions, the conference will offer an assessment of the global RegTech landscape, plus discussions ranging from the ongoing regulatory reporting challenge, the emerging conduct compliance requirement, addressing financial crime and other...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

ESG Handbook 2021

A-Team Group’s ESG Handbook 2021 is a ‘must read’ for all capital markets participants, data vendors and solutions providers involved in Environmental, Social and Governance (ESG) investing and product development. It includes extensive coverage of all elements of ESG, from an initial definition and why ESG is important, to existing and emerging regulations, data challenges...