Mimecast helps financial organizations more effectively address supervisory compliance requirements
New supervision service from Mimecast delivers better audit readiness increasing efficiencies, reducing resources required and helping to control costs
Lexington, MA – Mimecast (NASDAQ: MIME), a leading security and compliance company, announced the availability of Mimecast Supervision, helping financial services organizations address supervisory compliance requirements, such as SEC, FINRA, FCA and other regulatory constraints. As part of the Mimecast Cloud Archive, Mimecast Supervision includes intelligent selection, allowing organizations to focus on specific messages that warrant review and avoid false positives. An optimized workflow makes the review process quick and easy.
Regulated financial services firms are required to establish supervisory policies and they may also face periodic regulatory audits. At the same time, firms are spending far too much time and money maintaining compliance. In fact, a recent survey by Duff & Phelps revealed that financial services executives said they already expect to spend more than 5% of revenue on compliance by 2023. To help organizations address these concerns, Mimecast Supervision now offers a new level of efficiency to the compliance review process for financial services organizations.
“The governance, risk, and compliance market continues to be driven by a demand to mitigate the risks facing organizations as cheaply and efficiently as possible by leveraging technology,” said Ryan O’Leary, senior research analyst for legal, risk and compliance at IDC. “As a result, archiving vendors are well positioned to enter the compliance market and compete by providing financial services organizations with compliance tools that can embed directly into their existing solutions. Compliance technology buyers, generally, prefer deploying tools that work within existing systems and automate workflows to achieve efficiency gains, cost savings, and risk mitigation without the integration challenges of traditional add on solutions.”
“Most regulated financial services firms are required to establish supervisory policies,” said Shane Harris, senior director of product management at Mimecast. “Mimecast is committed to providing best-in-class compliance solutions. With Mimecast Supervision, we are helping our customers meet and exceed their supervision goals across FINRA, SEC, FCA and more with visibility and control over organizational data.”
Mimecast Cloud Archive and Supervision is now listed on the FINRA Compliance Vendor Directory, joining a small list of approved solutions recognized by a key financial services regulatory agency. Additionally, Supervision can be coupled with Mimecast Compliance Protect, which helps firms meet SEC retention requirements. Compliance Protects suitability for use as part of an SEC 17a-4 compliant program has been certified by the third-party firm, Compliance Solutions Strategies, which recently validated Compliance Protect through a Regulatory Retention Compliance Assessment.
Mimecast is a cybersecurity and compliance provider that helps thousands of organizations worldwide make email safer, restore trust and bolster cyber resilience. Mimecast’s expanded cloud suite enables organizations to implement a comprehensive cyber resilience strategy. From email and web security, archive and data protection, to awareness training, uptime assurance and more, Mimecast helps organizations stand strong in the face of cyberattacks, human error and technical failure. www.mimecast.com
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Sr. Public Relations Manager - Lexington office