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Sometimes Spontaneous Social Networking isn't So Great

Jim Zuffoletti, President, OpenQ, Inc.

So there was a big brouhaha last week at Techcrunch's Hackathon when not 1 but 2 different pitches hit the stage with material that was tasteless at best and offensive at worst. The ensuing, heartfelt apology from Techcrunch caught my eye as a compliance professional. In short they highlighted the importance of pre-screening social media posts to avoid another social FAIL. The important social media compliance lesson in my mind is that while social and tech are conditioned to be transparent and spontaneous, sometimes there are great norms or standards we need to live by whether we're a company or an individual.

Social media compliance requires vigilant monitoring for risk. And, sometimes oversight and screening in the interests of the customer, the partner, the audience is a very, very good thing.

A link to the original article can be found on my blog page: http://www.openq.com/techcrunch-social-media-compliance-blog/

The Next Generation of Financial Services Social Media Compliance Monitoring - Keeping Up with the Times

The Next Generation of Financial Services Social Media Compliance Monitoring - Keeping Up with the Times

Otavio Freire, Chief Technology Officer, OpenQ

Recently, Forrester named <ahref="http://www.openq.com">OpenQ<a> as a vendor to watch in social media risk management. The report defines the need for a balance of pre-approval management, coupled with social media monitoring.

?You must balance the two extremes by enabling restricted access to social media through a number of technical controls along with effective monitoring and oversight," according to Forrester.

The prior generation of social media monitoring solutions take a firewall or proxy monitoring approach, which ultimately does not mitigate risk for an organization. Putting not only a filter in place prior to social engagements, as well as introducing a new interface on top of the social platforms, is restrictive and decreases employee adoption of social. So, they take matters into their own hands to get around these cumbersome restrictions.

Consider the following examples:

An employee of an organization posts to social media from within a vendor's platform, but then uses their home computer to make a post. The latter leaves the organization exposed, both from legal/regulatory risk potential, but also creates exposure for reputation and brand risk.

An agency or contractor for an organization uses their mobile device to Tweet on behalf of the company, however, the contractor hasn't downloaded the necessary program to their phone to pre-monitor the post. In addition, tracking down everyone who needs to add special software to multiple mobile devices creates an extreme burden on an organization. New social compliance tools can monitor posts from any device.

Highly regulated industries, such as Life Sciences, must also monitor public posts to look for regulatory risk. The prior generation social monitoring tools are just not capable of efficiently monitoring and identifying regulatory and compliance risks public social media platforms such as Facebook, Linked In and Twitter.

Quarantine capabilities are not present in prior generation products. When an employee makes a post, it must go through a cumbersome approval process before going live, requiring humans to read every post and approve or reject them. This also creates archiving shortfalls, as the rejected posts may not be archived. The new generation of social media risk mitigation tools provide superior benefits over older technologies.

Social media risk monitoring requires a product to anticipate ongoing regulatory and legal requirements, be configurable to quickly adapt to new requirements, and also accommodate global requirements on a local basis.

If you haven't examined the new technologies available lately, you aren't keeping up with the times.

For full citations, please visit my blog page: http://www.openq.com/next-generation-social-media-compliance/