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Dreamforce recap: Financial firms can go social with the compliance officer's blessing

[Ed. note: Hearsay Social will be sharing extra details and compliance expertise in a special Dreamforce session today, September 19. This session, “Compliance and Governance for the Social Enterprise,” will take place in the Ralston Ballroom at the Palace Hotel from 3 — 4 PM.]

Hearsay Social representatives Kwesi Graves and Sanjiv Baxi at Dreamforce ’12 Financial Services Day.

By 2016, digital interactions with financial institutions will outnumber face-to-face interactions 250-to-1.
Brett King, bestselling author and American Banker’s Innovator of the Year (2012), shared this astounding statistic at the Dreamforce ‘12 Financial Services Day opening keynote, hammering home the point that banks, insurance companies, and other financial firms have no choice but to adapt to new social and mobile technologies.
It’s not just that children and young adults are growing up with smartphones and tablets. As a matter of fact, the most quickly growing demographic on Facebook right now is the 55+ age group. Across the board, your customers and prospects will increasingly expect you and your representatives to serve their needs in real-time over their platforms of choice, like LinkedIn and Facebook.
But what will the compliance officers think?
If you get compliance and legal involved from the outset, it’s true that they will have many questions and concerns, but no hurdle will be too high, according to Dreamforce speakers Adrian Mariadas (VP of Global CRM at Barclays Corporate) and Andrew Bartels (Director of IT at PSA Insurance & Financial Services). Be as open as possible with attorneys and compliance officers about your goals and methods, and they will more often than not be on your side.
Bartels even told the audience about how he put a white paper together for his compliance team, addressing all their concerns and laying out all the procedures in one concise document. In the end, his compliance team gave their approval to Bartels’ social media project.
Compliance, legal, and social media can all indeed get along.
After all, there are solutions (like Hearsay Social) that offer robust social compliance capabilities for FINRA, IIROC, and SEC-regulated financial firms. (And if you’re a Salesforce.com customer, you’ll be pleased to hear that yesterday we announced Hearsay Social Cloud Compliance for Salesforce, letting organizations in regulated industries fully embrace the socially connected enterprise in the cloud.)
All told, things are looking very positive for the financial services industry on social media, as more and more of the most respected brands, like Allstate, Thrivent Financial, and Ziegler, lead the way in social media adoption for insurance agents, financial advisors, and wealth managers.
Have any questions about social media for financial services? Feel free to leave a comment!

[Ed. note: Hearsay Social will be sharing extra details and compliance expertise in a special Dreamforce session today, September 19. This session, “Compliance and Governance for the Social Enterprise,” will take place in the Ralston Ballroom at the Palace Hotel from 3 — 4 PM.]

Unveiling Hearsay Social Cloud Compliance for Salesforce at Dreamforce ‘12

With tens of thousands of people descending on San Francisco for Dreamforce ‘12, it couldn’t be a more amazing time to be working on next-generation technology in Silicon Valley.
We at Hearsay Social are especially excited today to announce Hearsay Social Cloud Compliance for Salesforce, enabling financial services, healthcare, and retail organizations to fully embrace the socially connected enterprise in the cloud while adhering to industry regulations and corporate governance.
Hearsay Social Cloud Compliance for Salesforce will soon be available on Salesforce.com’s AppExchange, and includes FINRA, SEC, FTC, IIROC, FSA, and FDA compliance coverage across the Salesforce.com Sales Cloud, Marketing Cloud, Service Cloud, and Chatter.
[Ed. note: Hearsay Social will have a booth all day today at the Financial Services Industry Day (at the Grand Hyatt) to discuss this announcement and more. Additionally, Hearsay Social will be sharing extra details and compliance expertise in a special Dreamforce session tomorrow, September 19. This session will take place in the Ralston Ballroom at the Palace Hotel from 3 — 4 PM.]

Hearsay Social Cloud Compliance for Salesforce

Fortune 1000 organizations are eager to embrace LinkedIn, Facebook, Twitter, Google+, foursquare, and Chatter, but they want to do so in a way that adheres to industry regulations and corporate governance. We know this because our customers have been asking for a seamless way to compliantly engage in the socially connected enterprise, and this is what we have delivered with Hearsay Social Cloud Compliance for Salesforce.
Ziegler, a full-service investment bank serving institutional, retail, and commercial clients, is one of the first Hearsay Social customers to enjoy the benefits of our new offering. Sid Bhatnagar, Vice President of Business Applications at Ziegler, has already called our new product “an essential component” of his social enterprise’s architecture.
Here are the key product features to expect from Hearsay Social Cloud Compliance for Salesforce:

Hearsay Social Compliance for Sales Cloud

Navigate social accounts, contacts, and conversations in a compliant manner. Hearsay Social Compliance captures and archives social conversations to help your organization comply with business records and communications with the public regulations set by various regulatory bodies in the U.S., Canada, and Europe.

Hearsay Social Compliance for Service Cloud

Maintain complete compliance while offering a world-class customer service experience. Hearsay Social Compliance automatically captures and archives customer communications as agents are assigned to and resolve cases on any of the social networks.

Hearsay Social Compliance for Marketing Cloud

Boost your brand power by aligning marketing messaging across the organization. Hearsay Social Compliance protects financial firms’ registered representatives from regulatory risk by retaining records of social media interactions deemed advertisements, which require pre-approval by a Registered Principal.

Hearsay Social Compliance for Chatter

Capture and archive conversations for business records and eDiscovery requests with Hearsay Social Compliance.

Learn more

If you’d like to learn more about Hearsay Social Cloud Compliance for Salesforce, be sure to visit our booth today at the Financial Services Industry Day (at the Grand Hyatt) or catch our presentation at Dreamforce tomorrow, September 19. The session will take place in the Ralston Ballroom at the Palace Hotel (directions below) from 3 — 4 PM. Or simply get in touch if you’d like to see a demo of our new product.