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KMS Financial Chooses Erado for Electronic Communication and Social Media Compliance

05-12-2011 12:56 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Erado

KMS Financial Chooses Erado for Electronic Communication

RENTON, WA. May 5, 2011 – Erado, the nation's leader in archiving of electronic communications, announced today a multi-year agreement with KMS Financial Services, Inc., to extend its current cloud based email archiving and to formally add social media capturing and compliance services after beta testing this past year.

Erado, headquartered in Renton, WA, is a cloud-based service provider offering a suite of archiving, surveillance, hosting and security services tailored for the financial services industry.

Craig Brauff, CEO of Erado, said, “KMS Financial chose Erado's solutions for a number of reasons. First our solution is designed to be advisory specific. If advisor A has a LinkedIn account, we capture that content and bill only for that service. If advisor B has a LinkedIn and Twitter account we capture that content and bill just for those services. The benefit is that it keeps the total cost of social media compliance in line with actual use, and associated value for individual advisors. Second, it's not proxy-based. As a broker-dealer or an organization with hundreds of advisors, managing the multitude of social media capable devices can be an overwhelming challenge. In terms of both technological and compliance resources. Proxy solutions also have the disadvantage of potentially capturing unwanted content of third parties, dramatically raising the risk associated with social media content capture.

Ace Forsythe, Chief Compliance Officer of KMS Financial said, “The reality is that more advisors see value in the creative use of social media, yet the current regulatory scheme challenges firms to monitor, supervise, and archive its use across a varied user group. Erado's solution allows our advisors to utilize social media, remain compliant, and absorb the cost only of the services they want to use.”

Contact

Lisa Ung
Phone: (425) 336-0480 ext. 205
Email: lung@erado.com

###

About Erado
Erado provides a suite of hosted solutions for capture, review, and archiving of electronic communications, including email, instant messaging, and social media such as Facebook, LinkedIn, and Twitter. Since its start up in 1994, the company has helped organizations manage and enforce cost-effective compliance and records retention policies. For more information, see us at www.erado.com.

321 Burnett Ave South Suite 100
Renton, WA 98057

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