Email Archiving Compliance for Financial Services

Safely protect corporate email communications in the cloud.

Financial Services Recovery Assurance

Financial services are one of the most highly regulated industries. The plethora of financial regulations means that financial services companies must have a strong email archiving solution that enables them to stay in compliance and access email records easily if audited. Luckily, Dropsuite provides intuitive and affordable backup and archiving to help companies safeguard their critical business information.

If a virus, hacker attack or accidental/malicious deletions occur, our financial service customers can restore their mission-critical data such as email, calendars, tasks and attachments — in just a few clicks, keeping their business operation running smoothly.

Email Compliance Requirements for Financial Services

There are a wide range of local, federal and international regulations involving data archiving and record keeping. Financial service companies must be aware of what governs their business and take steps to ensure they remain compliant. Some of the most important regulations include:

Federal Rules of Civil Procedure (FRCP)

These regulations require that companies be prepared to present electronic records in the event of a lawsuit. Recent changes to FRCP narrow the eDiscovery window, requiring firms to produce records quicker but also limiting the scope of records that are required.

The Sarbanes-Oxley Act (SOX)

This law requires all publicly traded companies in the United States to keep their electronic data for up to seven years, depending on the type of data. For larger companies this can run into thousands of petabytes of data and cost many hundreds of thousands of dollars.

The Financial Industry Regulatory Authority (FINRA)

They regulate 3,800 broker-dealers with 635,000 brokers, and requires organizations to monitor and archive broker communications.

The Securities and Exchange Commission (SEC)

Rules 17a-3 & 17a-4 require a dealer or broker to preserve documents and records for three to six years, and for the first two years they must be in an accessible location.

The Gramm-Leach-Bliley Act

Requires financial institutions to protect the security, confidentiality and integrity of non-public customer information through administrative, technical and physical safeguards.

GDPR

General Data Protection Regulation (GDPR) is a sweeping new law that provides a rigorous framework for protecting the data of EU citizens. Provision in the law affect data access, consent, data portability and mandatory data breach notification.

With all these rules to follow, it’s no wonder that financial service firms need the best available tools to help make their jobs easier. That’s what Dropsuite thrives on. We’re proud to offer our customers full “recovery assurance” for all their emails.

Financial Services Use Cases

Q: Our auditor said we should consider an email archiving solution with journaling built in. What is journaling and why is it important?

A: Dropsuite offers journal archiving, an email archiving preservation technique that empowers administrators and authorized third-parties (such as auditors, etc) to facilitate compliance-quality archiving activities known as eDiscovery, versus standard email archiving that is simply a way to store inbound and outbound email messages for retrieval at a later date. Journaling is a tamper-proof caliber of email archiving that meets the rigorous standards of regulated authorities and the courts.

Q: We’d like to gain a competitive advantage, in both brand value and reputation, by ensuring our email communications are safe. Can Dropsuite provide such a solution?

A: When financial service organizations fail to take the necessary steps to safeguard their email communication data and protect it from theft, loss or damage, they are risking their future viability. Whether it’s a cyberattack an inadvertent data deletion, or a ransomware attack that holds emails hostage, a company’s brand can be at risk in seconds. Dropsuite protects your information in the cloud with state-of-the-art encryption, whether your data is in transit or at rest, giving our customers peace of mind knowing their email data is safe.

Q: Everyone at our accounting firm has trouble retrieving important, hard to find email attachments for our clients. Can Dropsuite help?

A: Yes we can. Discovering hard to find email messages and files has never been easier. Dropsuite allows Boolean searching (AND/OR/Include/Does Not Include/ etc.) to help narrow down searches, which can be especially useful in HR and compliance-based queries. Our “super search” filters include:

  • Attachments
  • To / From / CC / BCC
  • Subject
  • Added tags
  • Keywords
  • X-Header Metadata
  • Email Size
  • And more…

Financial Services Data Protection

Dropsuite works with organizations in the financial services industry to ensure that they have continuous availability of email communication data in the cloud, along with easy-to-use, secure, and scalable tools to manage them.

Dropsuite customers can easily and cost effectively safeguard their email communication records — Office 365, G Suite Gmail or even IMAP/POP email systems.

Backup and Archiving Features for Financial Services

  • eDiscovery
  • Journaling
  • Tamper-proof audit trail
  • Advanced search
  • Legal hold
  • Set retention periods
  • Secure 3rd party access
  • Role Based Access (RBAC)
  • Automated data backups (3X daily)
  • Office 365 backup
  • SharePoint backup
  • OneDrive backup
  • Groups backup
  • Teams backup
  • Email backup (Exchange Online, G Suite Gmail, IMAP or POP)
  • 1-click data restore
  • Insights email intelligence tool
  • HIPAA compliant
  • Unlimited storage & retention
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Financial Services Protection in the Cloud

Ransomware, accidental deletion of data, employee sabotage, and data breeches can all cause your email communications to become blocked, damaged or stolen. Dropsuite safeguards organizations in the financial services sector from all types of unexpected data loss.

An email communication backup and archiving solution assures that your records are systematically stored in a central cloud data repository with state-of-the-art security and legal hold features in place to guard against issues of tampering. Dropsuite was tailored-made for the rigid security requirements that Financial Services customers demand from a cloud partner.

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DOUG ENDERSBEE

CEO of Ozhosting

“Many of the businesses we serve are professional services such as lawyers, accountants, architects — and every email has the potential to contain advice or a commitment that is legally binding and must be permanently retained. Dropsuite’s comprehensive email backup and archiving solution adhere’s to a ‘legal hold’ standard.”

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