A new release leverages machine learning to help companies reduce the search time they need to remain compliant in regulated industries.
Veritas Technologies has rolled out a compliance tool to help clients ensure all critical data is identified, pinpointed, and protected in regulated industries like financial services and healthcare. In a blog post this week, the Santa Clara, CA-based company, a leader in data protection and availability, noted the increasing need for data supervision in an environment in which global regulations like GDPR become even more demanding and complex.
"As electronic communications continue to multiply, how can companies not only manage, but supervise it all? Unveiled this month, Veritas Advanced Supervision is a powerful new compliance offering to address this very problem," according to the post.
Indeed, compliance teams are struggling to keep pace with electronic communication channels, with 45% saying they are in constant catch-up mode when it comes to oversight, according to the ninth annual Electronic Communications Compliance Survey report by Smarsh.
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The new tool is delivered as an add-on for Veritas' Enterprise Vault.cloud SaaS Archiving Product, the company said. Advance Supervision "significantly reduces data review times for customers and increases efficiency to ensure compliance," it added.
In an interview, David Scott, director of product management for digital compliance at Veritas, said, "What we do is we capture content, we index it, we classify it, and we make it available for discovery."
The technology captures over 80 content sources and helps weed out the noise and show content that may be actionable, Scott said. Veritas has had a version of this product for an on-premise solution for awhile, this new iteration works in the cloud archives, he said.
"What we decided to do was re-architect our on-premise product so that it would work for both on-premise and the cloud archives," Scott said.
He noted that the new release expands on machine learning that allows Veritas to filter the noise and see what people deem to be relevant or irrelevant over time, and learn from those choices.
The setting could be private or public. Veritas works with government clients to help with Freedom of Information Act requests and lawsuits, for example, as well as healthcare companies trying to adhere to HIPAA requirements and HR departments looking to enforce policies.
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Financial services companies must adhere to regulations from the SEC or FINRA to monitor a subset of communications from brokers to end customers, "Again, just to make sure they're not doing anything illegal," Scott said, "and they have to show evidence of that review."
"That's what we really base the product on, those requirements, being able to sample all the different communication mediums that those brokers might be using," Scott said. "In the old days, it was all email and phone. Right now, it's email, phone and 50 different instant messaging tools and social media."
According to the company's blog post: "With classification-driven supervision, users can focus on sampling, eliminating noise, and targeting specific content for review. A modern UI design and tabbed interface allows for easy navigation between preferred views to perform a variety of actions.
"Leveraging facet filters to zero in on content, Advanced Supervision allows rapid review and automated sampling. The offering additionally enables users to set higher sampling rates for their most relevant keywords."
"Advanced Supervision is really aimed at helping companies keep an eye on their employees and to meet different regulations," Scott said.
The technology is essential, Scott said, given the explosion of regulations like the California Privacy Act in the States and GDPR in Europe.
"Companies need to be more aware of personal data being sent within their environment and so this is a good tool to keep an eye on that. No one likes to be there, to be monitored, but it's a reality and a lot of industries to meet the regulations, you have to do that."
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