Alliance & Leicester Commercial Finance is rolling out London-based Computer Solutions and Finance's (CSF) e-mail management and archiving software to 200 users at its Manchester office.
The bank is using CSF's policy-based system, ControlM@il, to improve e-mail management, reduce storage capacity and to comply with FSA regulations that stipulate that all e-mails sent and received must be stored for up to seven years.
Chris Nevill, IT manager, Alliance & Leicester Commercial Finance, says: "ControlM@il provides us with a comprehensive audit trail, so finding e-mails will never pose a problem."
ControlM@il is running on Microsoft Exchange servers and is accessed via a Web browser.
CSF says the product enables firms to create a central policy-based archive with comprehensive audit facilities without an overhaul of existing infrastructure, retraining or need for system downtime
The system is available as both a managed service or can be installed in-house. The vendor claims clients can receive a 100% return on investment in 12 months of implementation.
According to a recent survey by Orchestria, more than half of the UK's banks and financial services companies risk breaking compliance rules because they do not have the technology to monitor electronic communications between employees. The survey of 100 banks and building societies found that only 22% were of the risks and were trying to implement new systems.