Bloomberg announced today that Bloomberg Vault, its electronic communications compliance offering, integrates with Microsoft Office 365.
Bloomberg Vault gives financial services firms using Microsoft Office 365 a cloud-based solution for meeting global regulatory and risk management guidelines for electronic communications.
Bloomberg's strategic alliance with Microsoft allows Office 365 subscribers to easily add Bloomberg Vault as a managed service that includes essential features such as real-time policy management, search analytics, eDiscovery and secure archiving for corporate emails and messages.
"Financial services firms are struggling to meet regulatory and legal demands for the management and storage of electronic communications," said Harald Collet, global business manager for Bloomberg Vault. "Compliance mandates are increasingly complex and the capital costs can be significant. The aim of Bloomberg Vault-Office 365 is to help financial services organizations embrace the cloud and meet stringent regulatory requirements."
Key Bloomberg Vault functionality for Office 365 includes:
- Integrated and secure archiving of all electronic communications as a hosted service, helping companies to reduce overhead costs by leveraging the cloud;
- Specialized features designed to help financial firms meet compliance requirements through real-time policy management, advanced search, eDiscovery and electronic records retention and preservation;
- Biometric security for compliance officers to enhance access controls.
"Bloomberg is a key Office 365 solution provider, dedicated to delivering additional value to customers," said Giovanni Mezgec, General Manager of Microsoft Office Division Marketing. "Bloomberg Vault for Office 365 is an example of how customers and partners can quickly customize Office 365 and benefit from the latest business communication and collaboration service from Microsoft."
More than 300 financial service companies have adopted Bloomberg Vault to manage growing legal and regulatory mandates governing corporate data. Since information management regulations and prudent records retention processes apply to all industries, the combined service from Bloomberg and Microsoft can also aid non-financial organizations.
"Companies like Capstone are looking for technology that provides the tools and functionality we need to run daily operations efficiently. Hosted email and compliance solutions allow us to spend more time on front office activities, while reducing overhead costs," said A. Monty Hall, Director of Technology, Capstone Investment Advisors.
Rosalie Nicosia, Chief Operating Officer at Whitaker Securities, an investment advisory firm, said, "Bloomberg Vault supports our efforts to leverage hosted solutions and simplify our IT infrastructure.
Integration with Office 365 gives us flexibility, strengthens our compliance process, and helps us avoid the costs associated with an in-house deployed email solution."