NetSpend Readies For a Deep Dive into Social Networking

by Mercator Advisory Group 0

NetSpend has partnered with Web 2.0 SaaS solutions provider Actiance to enable deeper social network integration:

“Actiance, enabling the safe and compliant use of unified communications, collaboration and Web 2.0, announced that NetSpend, one of the country’s leading providers of general-purpose reloadable prepaid debit cards, has deployed its Socialite platform.

NetSpend selected Socialite for its granular controls of popular social networks, like Facebook and Twitter, and its quick-to-deploy, software-as-a-service (SaaS) configuration.

Socialite provides granular control for social networking sites, including the specific ability to manage access and content shared across 148 features on Facebook, LinkedIn and Twitter. With regulations such as Financial Industry Regulatory Advisory (FINRA) Regulatory Notice 10-06, it is critical for businesses in all industries, including those in financial services and government, to have a social media policy in place, especially in light of the increasing social media usage by marketing, HR and sales departments within an organization.”

While NetSpend had engaged in social networks prior to Actiance, this platform will enable appropriate monitoring and adherence to regulatory compliance:

“ ’Our marketing and online direct support teams were using Facebook, LinkedIn and other social media channels to strengthen relationships with prospects and increase sales,” said Denis Brooker, VP information security at NetSpend. “However, as the IT security lead, I was concerned about the implications of its use. I needed to ensure I could maintain compliance and that there were no inadvertent critical data leakages. I was looking for a solution that allowed vital branches of NetSpend to conduct business over social media sites, while also staying within regulatory guidelines. After careful consideration, I chose Socialite from Actiance, as it was the most comprehensive solution.’

Actiance’s platforms address the challenges enterprises face, including regulatory, eDiscovery and changing compliance requirements. Additionally, social media and social networking tools require an enterprise to prevent data leakage, log and archive all content and enforce corporate policies regarding the use of social applications. Socialite provides advanced capabilities that allow businesses such as NetSpend to quickly adapt, for continuous monitoring and management of all online communication, available through a SaaS delivery to ensure a swift deployment.

‘We’re finding that businesses are beginning to understand the value of harnessing social media, but require technology to enforce the use of those channels,” said Kailash Ambwani, CEO of Actiance. “Our Socialite platform delivers the specific controls NetSpend requires to manage social media access, allowing them to moderate conversations and block or control access to specific components, such as Facebook games. Especially with today’s mandatory guidelines from regulatory bodies like FINRA, it’s vital businesses remain compliant while effectively using social media sites and Actiance’s platform enables them to execute on this strategy.’ ”

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