"Email archiving is critical to our firm to manage regulatory compliance requirements and enable quick discovery and recovery of messages for legal purposes. We considered various in-house and outsourced solutions, but Fortiva came out on top for two key reasons – our business users found it user friendly, and the level of data security Fortiva offers through DoubleBlind Encryption™ technology ensures confidentiality of our data in storage and transit."
Brian Erdelyi, Information Security Officer, First Associates Investments
For more information:
Sarah Grant
sgrant@highroad.com
514.908.0110 ext. 313
Jumana Chowdhury
jumana.chowdhury@fortiva.com
416.366.6666 ext. 385
Fortiva Solution Brings Secure Email Archiving for Regulatory Compliance and Legal Discovery to the Canadian Financial Sector
Leading financial firms select Fortiva solution to reduce risk and meet e-discovery requirements
August 23, 2005 – Toronto – Fortiva Inc., a provider of email archiving services, today announced that three leading companies in the Canadian financial sector have implemented the Fortiva Archiving & Compliance Suite™, bringing the company's list of Canadian financial customers to 10. The announcement comes one year after the amendment of the IDA bylaw 29.7, which requires securities firms to retain all correspondence, including email, for a period of five years. Fortiva's email archiving solution enables businesses to enforce an email policy to meet compliance requirements, while reducing risk in the event of a lawsuit and allowing firms to meet e-discovery requests.
"As a Toronto-based company, we are pleased to be helping Canadian firms to meet their archiving needs for litigation, compliance and email management," said Paul Chen, CEO, Fortiva. "These wins reaffirm our position as leading provider of archiving solutions to the financial market and demonstrate the business advantages of choosing Fortiva."
Among Fortiva's Canadian customers are leading financial firms including First Associates Investments Inc, GMP Securities and Research Capital.
"Email archiving is critical to our firm to manage regulatory compliance requirements and enable quick discovery and recovery of messages for legal purposes," Brian Erdelyi, Information Security Officer, First Associates Investments. "We considered various in-house and outsourced solutions, but Fortiva came out on top for two key reasons - our business users found it user friendly, and the level of data security Fortiva offers through DoubleBlind Encryption™ technology ensures confidentiality of our data in storage and transit."
Canadian businesses are increasingly turning to email archiving both for regulatory compliance and to reduce risks associated with litigation. According to IDC Canada, 30 per cent of Canadian businesses are planning changes to IT systems this year to accommodate regulatory compliance requirements; an additional 23 per cent have plans to do the same in the next 12 to 24 months. Email evidence has also been used in a series of high-profile lawsuits in Canada recently, bringing attention to the need for organizations to be prepared for legal discovery requests.
Fortiva's managed solution for email archiving helps businesses create, implement and enforce a policy for email archiving and retention, while storing archived data on Fortiva's highly secure, reliable and scalable infrastructure. Using proprietary DoubleBlind Encryption™ technology, Fortiva's hybrid model is the first to offer total data privacy in a managed solution, while offering the flexibility and integration typically available only in a software solution. This is achieved by encrypting all customer data before it leaves the corporate network, and maintaining it in encrypted form both in transmission and storage. Archived data can be easily accessed through a Web browser interface, resulting in end-user productivity and storage management benefits.
About Fortiva Inc.
Fortiva is a leading provider of managed email archiving solutions for regulatory compliance, legal discovery and email storage management needs. With headquarters in Toronto, Canada, and offices in Connecticut and Washington, Fortiva delivers its customer-driven solutions through a strong network of strategic partnerships as well as a direct sales force. For more information on Fortiva, visit www.fortiva.com.