Source: Sun Microsystems
KeyCorp (NYSE: KEY) today announced that it has selected Sun Microsystems' (Nasdaq: SUNW) Compliance and Content Management Solution to manage compliance best practices and processes for its investments units as well as the enterprise email archiving solution.
The Sun Compliance and Content Management Solution provides compliance records retention and electronic discovery capabilities for Key's email and instant messaging applications. Key, a Cleveland-based bank holding company with more than $92 billion in assets, also relies on Sun to provide the platform that powers its mission critical Trade Floor activities. These applications run exclusively on Sun SPARC based hardware and the Solaris Operating System (OS).
Regulatory and discovery requirements, along with the need to better manage archival storage and retrieval of email and instant messaging, led Key to search out the best solution. The Sun Compliance and Content Management Solution provides a clean, intuitive interface that allows compliance professionals to quickly perform their daily tasks, giving them direct access to business critical records. Additionally, the advanced features and architecture of the solution allows Key to rapidly find specific and relevant information for litigation support, without having to restore volumes of back-up tapes. The solution will also enable Key to shrink the size of its email archive by nearly 80 percent and significantly reduce tape storage and management requirements.
"Key requires a solution that works well with our email environment as well as other types of data including instant messaging and specific data types required by our investment business. Additionally, we needed a solution that was easy to deploy and cost effective," said Angi Bensinger, Key's Director of Engineering Services. "After a complete search of the marketplace, we selected Sun's Compliance and Content Management Solution, which leverages AXS-One's Compliance Platform to handle a wide variety of records types in one easy interface. The ability to intelligently capture one copy of each message and perform 'stubbing' of full messages in user mail boxes makes it a perfect solution for KeyBank's current legal and regulatory needs."
Key's relationship with Sun extends to include Key Equipment Finance, which provides best in class customer financing to Sun's domestic resellers, as well as to Sun's enterprise clients on a global basis.
"Today's regulations are forcing financial services companies to upgrade their technology platforms and processes to support enhanced corporate governance needs. This means providing more robust archival, retrieval and reporting capabilities for all electronic records and data," said Larry Scott, vice president, global financial services industry for Sun Microsystems. "After talking with KeyBank about their needs, we were able to recommend a solution that would address their requirements for e-discovery while also supporting their increasing requirement for records retention. In choosing Sun, KeyBank can feel confident that their corporate governance needs will be met and that an operational risk reduction strategy is in place to manage the storage of continuously expanding volumes of data."
"Today, Sun is Key's Unix platform of choice, and our relationship with Sun continues to grow," said Al Coppolo, Key's EVP and director of infrastructure operations. "We are very excited with the management capabilities that the Sun Compliance and Content Management Solution delivers, such as being able to provide search capabilities directly to our legal teams. We have also completed the evaluation of Sun's AMD Opteron processors, and see benefits from the low power consumption, data center space savings, and high computing performance of these units."