Regulators are no longer tolerating insufficient data back-up and data protection by members’ firms. The fines for poor compliance are hitting 7 digits.
NEW YORK (PRWEB) November 07, 2019
Xtiva has announced the launch of its Xtiva Vault deep storage service for long-term data retention compliant with major regulatory regimes. “Vault is a terrific companion to our Incentive Compensation services for those customers who want to a long-term, immutable duplicate electronic storage option,” said Rob Kenig, VP, Infrastructure and CISO, Xtiva. “Regulators are no longer tolerating insufficient data back-up and data protection by members’ firms. The fines for poor compliance are hitting 7 digits.”
Xtiva Vault gives firms a low cost, online, immutable storage option to protect books and records data, records related to legal matter and life-of-relationship records. With immutable time lock (regulatory) and double lock (legal custody) options, an automated data deposit function and full transparency into record integrity, Xtiva Vault is secure, easy to use and satisfies the requirements of records retention regulations such as SEC Rule 17a-4 and CFTC 1.31(b).
“We built Xtiva Vault because our customers care about the integrity of their businesses,” explained Jeff Marsden, Xtiva’s Chief Product Officer. “Xtiva Vault means less business risk and happy regulators, and we think our customers will appreciate that.”
Xtiva Financial Systems provides the leading sales performance management (SPM) and incentive compensation management (ICM) systems for the financial services industry. Xtiva’s cloud-based SPM product suite enables financial organizations to drive scalable performance improvement through better business intelligence, sales enablement, talent management and supported by dynamic and compelling incentive compensation. 90 financial service enterprises use Xtiva’s software, services and support, to maximize their salesforce investments and business performance. Xtiva’s customer obsessed team is dedicated to ensuring its customers and their partners achieve more every day.
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Jeff Marsden, Chief Product Officer