Formicary releases the latest version of ChatSeer™ - The Enterprise Chat Monitoring Tool

London - UK – 18th  September 2007 - Formicary Ltd, an IT consultancy and software firm specialising in providing solutions for the Financial Services industry, today announced the release of the latest version of ChatSeer™ - The Enterprise Chat Monitoring Tool, specifically designed to ease discovery and investigation requests for the next generation of channel-based Instant Messaging (IM) applications.

This advanced solution was developed to meet the requirements of two top tier Investment Banks. ChatSeer connects to Parlano’s MindAlign, Reuters Messaging and Microsoft’s Live Communication Server (LCS) which includes MSN, AOL and Yahoo! via PIC.  ChatSeer’s unique design and architecture integrates with IM in a native manner, instead of converting instant messages to email format for storage. This allows an enterprise to be confident that all IM traffic, both internally and externally, is easily discovered and that private and channel-based conversations are accurately reconstructed.

The growth of Instant Messaging (IM) is currently increasing at an exponential rate especially with the emergence of new technologies unifying communications. Under current legislation and industry regulations governing electronic communications, IM is now subject to the same stringent regulations and compliance requirements as email. Organisations are required to record and archive all communication data for differing retention periods in secure, tamper proof storage facilities and must be able to readily retrieve the data when required for audit, compliance or discovery purposes.

“ChatSeer monitors, identifies and indexes all IM communications allowing authorised personnel to quickly search and retrieve all archived data accurately. This provides assurance to regulators that Compliance Officers can deliver a rapid, meaningful response to all discovery requests. In addition, the new optional MyChat™ module enables individual users to search and retrieve their own messages either in one-to-one, one-to-many or channel-based communications across all IM applications for reference or confirmation purposes.” said Howard Travers, Business Development Manager at Formicary. He continued ”The recent announcement by Microsoft of its intention to purchase Parlano has only served to underline further the importance of channel-based IM/Chat and justify our continued investment in the next generation of messaging.”

 

About Formicary, Ltd

Formicary is an information technology consultancy that specialises in building integrated applications/solutions to maximise business efficiency and streamline business processes for the Financial Services industry.

Founded in 2000, Formicary brings together a world class team of talented and dedicated professionals with industry experience and understanding covering front to back office in equities, fixed income and derivatives. This knowledge, coupled with technical excellence ranging from legacy client/server to cutting edge technologies, enables Formicary to offer innovative and sophisticated solutions to help clients improve their productivity and increase their return on investment.

Formicary has offices in Europe and North America. For more information, please visit www.formicary.net or contact us at info@formicary.net or 44 (0) 20 7729 9878

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