Santa Barbara, CA—March 11, 2020— Theta Lake, Inc., the RegTech company that helps compliance teams scale their compliance risk detection in modern collaboration platforms across video, voice, chat, and more, today announces its Theta Lake Compliant Collaboration Archive module: the industry’s first free, SEC Rule 17a-4 compliant archive designed for collaboration platforms, such as RingCentral, Microsoft Teams, Cisco Webex, LogMeIn, and Zoom.
With the need to enable remote and distributed work scenarios at an all-time high, compliance coverage and contingency plans are facing real challenges. When used correctly, collaboration tools provide users with the ability to communicate with content-rich messaging, which can improve communication and productivity. But with the recent increased need to facilitate remote-work, quarantine, and emergency response business plans, modern collaboration tools can literally save the day. However, this shouldn’t reduce compliance and increase risk nor should it raising complexity and expense for organizations to meet SEC, FINRA, MiFID II, and related requirements.
With Theta Lake’s Compliant Collaboration Archive module, archiving video, voice, chat, and file content from collaboration platforms is straightforward and cost-effective. It integrates directly with the firm’s collaboration platforms using pre-built partner integrations with the leading platforms and automatically retrieves communications.
Compliant Collaboration Archive includes a breadth of capabilities that include:
- 100 GB of free storage with simple storage add-ons available
- 17a-4 compliant storage hosted in a secure SOC2 Type 2 certified data center designed specifically for collaboration platform archiving
- Full archive retention policy management for any storage duration
- Metadata search with full playback and viewing for voice, video, and text communications
- Simple, click-through upgrades for full supervision, individual recording supervision, data export, and additional storage
Collaboration platforms support calling, video conferencing with text inside the video, chat, and embedded files of all types. Yet, traditional archives have high storage cost models and do not provide full coverage for all media types. At the same time, lower cost cloud storage options are not purpose built like compliance archives for collaboration retention, search, and supervision requirements. The gap between either approach introduces complexity, cost, and risk that Theta Lake’s Compliant Collaboration Archive is designed to solve.
“The migration to rich collaboration tools has been in full swing, and the current emergency response plans for Covid-19 are obviously accelerating usage. We are enabling safer, more compliant usage with the introduction of the Compliant Collaboration Archive module, which addresses the legacy challenges that businesses have been facing in providing full compliant archiving for today’s full-featured communication collaboration tools,” said Devin Redmond, Theta Lake CEO. “It provides a purpose-built solution for compliance collaboration archiving that relieves firms from relying on either raw cloud storage or the high cost and complexity associated with traditional archive systems that have collaboration coverage constraints.”
Compliant Collaboration Archive module users may also add upgrade options like full supervision, customizable workflow, and analysis for all archived content or on demand analysis for individual items. Analysis covers what is shared, shown, said, transferred and written by applying more than fifty pre-built compliance risk categories with PII redaction features and custom risk detection options to identify potential compliance and security issues in communications.
For more information, visit: https://thetalake.com.
About Theta Lake
Theta Lake, Inc., a two-time RegTech 100 company and Gartner 2019 Cool Vendor, was founded in 2017 by proven entrepreneurs and enterprise technology builders with decades of leadership recognition from Global 100 customers and top industry analysts. Theta Lake’s multi-patent pending AI helps compliance teams more effectively and quickly scale their compliance risk detection and the workflows for communication supervision of modern video, voice, and unified collaboration systems. The Theta Lake Compliance Suite is SOC2 Type 2 compliant. Visit us at Thetalake.com; LinkedIn; Twitter @thetalake.