Shield FC updates eComms data management platform to automate compliance

Shield Financial Compliance has launched a new version of its electronic communications data management platform and compliance reporting suite.

To meet the growing record-keeping, data governance and best execution requirements of financial firms, the RegTech has unveiled its updated data management platform which automates eComms record-keeping and investigation compliance tasks.

Shield FC enables regulated firms to capture, archive, analyse and investigate each and every interaction across all eComms channels, as required by regulations including MiFID II, GDPR, MAR, Dodd Frank and FINRA and data governance standards.

New regulations require financial institutions to capture, protect and archive every single interaction. Firms may also need to perform trade reconstruction of a complete omni-channel communication chain.

Shield V2.0 has been developed specifically to meet these requirements by uniting all standalone structured and unstructured eComms sources used throughout the lifecycle of a trade. These include voice, email, instant messaging, market data chat, financial messaging, mobile, social media and web, through to order management system data.

The new generation solution claims to aggregate and analyse more data sources and delivers a new interrogation engine to meet the specific needs of the compliance team. It also delivers a correlated sequential view of trading events with timeline reporting in an intuitive front-end according to the company.

“We believe that firms need to take a strategic approach in dealing with record-keeping and best execution regulation in a holistic way; one platform that helps them to handle the explosion in eComms as well as streamline and automate compliance processes. Shield V2.0 delivers just that,“ comments Shiran Weitzman, co-founder and CEO of ShieldFC. “It goes well beyond the current box-ticking most firms employ when archiving eComms data in discrete silos, which presents a huge problem when trading events need to be reconstructed.”

In addition to its ecomm data management platform, Shield FC also provides solutions for record keeping and best execution.

Regulatory requirements impose control and oversight obligations, forcing organisations to implement effective monitoring, recordkeeping procedures, and data integrity for regulatory compliance. Shield FC provides a modular, flexible and unified end-to-end solution for long-term data archiving, with its core technology enabling organisations to meet financial regulatory requirements.

One of the modifications that MiFID II introduced is the Best Execution requirement. Shield FC’s Best Execution suite is designed to collect all the relevant information across all communication media, correlate and analyse the RFQ timestamps and details, and populate the firm relevant reporting mechanism.