Global RegTech Leader Leverages Canadian Infrastructure to Meet Demand at Scale, Enable Customers to Comply with Communications Archiving and Data Privacy Regulations
Reflects Surging Demand for Retention and Supervision Solutions as Hybrid Work Models Endure
Smarsh, enabling organizations to manage the risk and uncover the value within their electronic communications, announced it is collaborating with Amazon Web Services, Inc. (AWS) in Canada to deliver its Capture and Enterprise Archive solutions. The move accelerates the company’s growth strategy in the country, adding to a range of offerings available to Canadian enterprises already leveraging Smarsh technology for their archiving strategies, including some of the largest banks and financial services firms. The engagement with AWS will also further the company’s ability to serve its Professional Archive customers in the country.
Brian Cramer, CEO of Smarsh, said, “Canada is a major market for our company, given the flourishing financial services industry across the country, combined with a stringent regulatory environment that demands sophisticated digital communications compliance solutions to drive long-term success. Our decision to collaborate with AWS is consistent with the importance we attach to that market and demonstrates our responsiveness to Canadian customers that want their data housed domestically.”
Mr. Cramer continued, “Working with AWS positions Smarsh as a preferred provider of communications retention and supervision solutions to a broader cross-section of Canada’s financial services industry, thereby eliminating unnecessary complexities related to cross-border regulatory or privacy issues.”
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The solutions deployed on the Canadian-based cloud will help dealer members and other wealth management firms comply with oversight responsibilities based on current Investment Industry Regulatory Organization of Canada (IIROC) regulations. Such entities must have the capability to capture, archive, and reproduce content across multiple communication and collaboration platforms, spanning everything from email to mobile text to instant messaging services to social media platforms.
Going forward – as hybrid and work-from-home models endure – these responsibilities will only intensify as the volume of communications data continues to proliferate. Best-in-class cloud tools from Smarsh enable firms to handle them in an efficient, cost-effective, and compliant manner.
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On October 26, Smarsh and IT World Canada will host a discussion about critical regulatory and technology questions financial organizations need to consider as they choose the suitable cloud and cloud provider to help them grow. The discussion will feature Robert Cruz, Vice President of Information Governance at Smarsh, Dan Mackay, a Compliance Specialist with AWS, and consulting CIO Rob Meikle, the former Chief Information Officer (CIO) for the City of Toronto and the City of Brampton.
“Advancing technologies and increased enforcement by regulatory agencies are changing the way financial organizations are doing business. Once seen as a conservative inclination, leaders in the Canadian financial sector are now embracing change (and cloud) to stay ahead of their competitors,” said Cramer.