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Leading Broker Dealer Implements ZipLip for Email Compliance
Scalable Pre-review, journaling, and compliance solution replaces older technologies
MOUNTAIN VIEW, CA – June 4, 2004>
ZipLip Inc. a leader in email management and compliance technology, today announced that the ZipLip Unified Archival solution for email compliance with SEC17a-4, NASD 3010 and Sarbanes-Oxley was selected by one of the top broker dealers in the country. ZipLip Unified Archival was chosen to replace the organization's legacy application for Pre-review, and to also provide compliance, journaling, discovery, and storage offloading functionality.
Based in the southern U.S., the firm is one of the nation's largest full service investment houses with over 2,000 employees across North America.
The firm is one of the earliest firms to utilize Pre-review and email compliance tools to deal with SEC, NASD, and NYSE regulations and has significant experience working with leading compliance technologies. However, previous solutions were unable to cope with the growing volume of email resulting in significant scalability and support issues.
As part of the process to replace its legacy infrastructure and to meet everchanging compliance requirements, the firm evaluated ZipLip and other major email archival vendors. After first-round eliminations, prospective solutions were given the opportunity to deploy onsite and were subjected to user evaluation, load, and volume testing during a multi-day trial. ZipLip was the only competitor able to showcase full functionality. Several competitors indicated many critical features were as yet unavailable or "in beta."
"In addition to meeting retrieval and retention regulations for email compliance, our new client will save thousands of man-hours in future legal discovery searches with the improved scaling and search capabilities of the ZipLip technology," said Stephen Chan, VP of Business Development for ZipLip. "Furthermore, ZipLip's industry leading Pre-review capabilities, combined with its customizable lexicon for compliance and financial institutions, enables blocking of problem emails before they are sent, thus avoiding non-compliance and preventing incurrence of liability."
ZipLip's flexible architecture was also a major factor for the firm's decision as its user base grows and as regulations and compliance requirements continue to change. For example, a recent merger has brought together both MS Exchange and Lotus Notes. ZipLip's ability to support a mixed environment and proven scalability to over 500,000 users are critical requirements.
Some highlights of ZipLip's Unified Archival Solution include:
ZipLip's Unified Archival is available as a software "appliance," starting from $15,000, or can be scaled upward to a clustered configuration for hundreds of thousands of accounts.
About ZipLip
Founded in 1999, and based in Mountain View, California, ZipLip makes enterprise software for email management, integrating email archival, secure email and secure files on a single, scalable platform. Enterprise customers include Walgreens, ADP, Morgan Keegan, Hancock Bank, Ladenburg Thalmann, WR Berkley, First Data Corp, Furukawa Electric, SI International, Reed-Elsevier, PNB Financial, Delta Dental, and many others. More information is available at www.ziplip.net.