Qumram, a leading global provider of digital interaction audit solutions for the financial services industry, has been selected by Russell Investments, a global asset manager with $244 billion in assets under management, to provide compliant digital record-keeping. As client demand for digital communication and transactions has risen, so too has the compliance risk. Qumram mitigates this risk at Russell Investments by recording and retaining all digital interactions on the firm’s corporate website in real-time, in accordance with global regulatory requirements.
“We are excited and honored that a U.S.-headquartered asset manager as successful and highly regarded as Russell Investments has entrusted the compliance of their digital business to Qumram,” said Patrick Barnert, CEO at Qumram. “Since 2011, we have been helping enterprise firms in heavily regulated industry sectors embrace digital business, while safeguarding against non-compliance. We are delighted to be partnering with Russell Investments to achieve that goal.”
Increasingly, regulation is focusing on digital record-keeping to ensure consumer protection in financial services. Most, including US SEC 17a-4, and MIFID II in Europe, require 100 percent capture and retention of all digital interactions, and immediate access to them, for a period of up to seven years. Since websites generate highly personalized, user-specific content and data, with a proper digital record-keeping tool like Qumram, companies can capture a complete view of every digital interaction—serving their clients’ needs, while also remaining compliant.