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Partnership Readies Regulatory Compliance Service For October US Launch

With their partnership begun in January, Scandinavian based compliance solutions company TM Group, and UK-based archiving provider Arkivum, have put their capabilities together for an end-to-end solution that can collect customer data for regulatory compliance, communicate it within units of a firm, and, lastly, save and store the data, according to officials of both companies.

Arkivum and TM Group are planning to roll out an updated version of their Shield compliance service in the US in October, according to Yaron Naor, vice president and general manager, Americas, at Arkivum. The current version of Shield is being tested by a large Nordic bank, he adds.

TM Group’s technology captures data for Shield and applies data from Shield, by communicating the data to users who need it, based on the archiving and organising capability which Arkivum provides. This end-to-end capability begins with collecting information from a variety of order management and customer relationship management systems, says Shiran Weitzman, head of sales, TM Group.

“We create a data model that applies for all the information. We normalise the data into a unified format, while keeping the original formal, and enrich the information,” he says. “Then we push the data into the compliance archive layer, where we make the data immutable and handle it in the chain of custody there. … Then we provide an application layer on top of the archive that can search in the data. We can search from a compliance perspective.”

With this end-to-end connection, compliance officers can use Shield to investigate issues in trading, including correlation of communications and retrieving information needed to respond to regulatory or judicial authorities, Weitzman explains. “We add a layer of analytics onto electronic communication,” he says. The service is designed to meet MiFID II and Market Abuse Regulation compliance needs, as well. Shield can be deployed on-premises or accessed through private or public cloud resources.

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