Building on its core technology for archiving, storing and retrieving electronic documents, Zantaz has released its "next generation" Digital Safe platform to help financial-services firms meet regulatory and compliance requirements. The new platform is an outsourced service for documents such as e-mails and instant messages that must be stored and retrieved according to regulatory guidelines.
"The market is exploding as a result of what's happened recently with Enron and Anderson and other SEC investigations," says Steve King, president and CEO of Zantaz. "It's logical to assume that firms are scrambling to put some kind of technology in place to do a better job of capturing, archiving and later retrieving their e-mail and other electronic messages." The new Digital Safe offering is based on a MultiCell architecture for greater scalability and functionality for searching and retrieving, adds King.
Using standards such as XML and SMTP (e-mail format), the solution can take in any electronic document specified by the firm for indexing and archiving. These documents can now include trading documents such as confirmations, which can be indexed and archived according to a certain set of fields including stock symbol, customer, number of shares, etc. The Zantaz platform can also archive and store customer statements and e-mail attachments.
End-user firms can capture, index and store all e-mails or they can decide which e-mail groups they would like to capture and store according to certain pre-determined requirements. King says the Digital Safe solution can scale to meet the e-mail requirements of even the largest Wall Street firms, which can generate millions of e-mails each month. The new Digital Safe platform can scale from 100 gigabytes to 25 terabytes in a single Digital Safe storage facility.
He maintains that the retrieval of documents is almost instantaneous regardless of the volume stored. "With the new architecture it doesn't matter if you have one million or sixty million messages, the distributed architecture allows the user to search and access everything seamlessly," says King. The data stored at the Zantaz site is highly secure and segregated by client, says King "We have to be very sensitive to client's wishes, and all of the data is separate and protected."