Compliant Data Archiving
How Organizations in Financial Service Industry Meet Compliance Requirements in Data Storage with iCAS
Organizations in financial service industry must comply with diverse strict regulations (e.g. SEC 17a-4(f), CFTC 1.31(b)-(c), Basel III, MIFID, PCI DSS, FINRA) which partially mandate long-term storage, protection, integrity, and availability of various financial data. Financial transactions, credit cardholder data, public offerings are just examples of multiple data that finance companies need to retain and protect for a very long time against evolving threats.
The retention periods of financial-related data vary, depending on the types of data or the regulations that apply to the data. They typically range from seven to ten years, but it can even extend to decades. Throughout these long retention periods, financial institutions must assure that the content and the quality of their archived data or records remain exactly the same as its original state and can be quickly accessed at any time it is needed. This is a tough homework for IT administrators, compliance managers, or records managers in financial companies. Failing to handle the data according to the compliance requirements will result in financial penalties, lawsuits, or reputational damage.
iTernity Compliant Archive Software (iCAS) was specifically developed to enable financial institutions to meet these challenging requirements. iCAS enables financial institutions to ensure a long-term security, integrity, and availability of their electronic financial data or records no matter where they are stored.
iCAS’ compliance capabilities had been assessed and certified by KPMG, the renowned global auditing company; and by Cohasset Associates for specifically meeting the SEC 17a-4 and CFTC 1.31(b)-(c) requirements. Financial companies worldwide rely on iCAS as their central compliant archiving tool.
Retention Management | Legal Hold | WORM | Encryption
Replication | Integrity Verification | Self-Healing | Audit System