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ARMONK</span></strong><strong><span>, </span></strong><strong><span>NY</span></strong><strong><span>, </span></strong><strong><spa - 29 Oct 2003: IBM today announced an increased commitment to assist companies in addressing regulatory compliance requirements with new services and products aimed specifically at helping them meet pending deadlines from the federal government. The new offerings leverage IBM's leadership in IT and business consulting services, software, open standards and hardware to rapidly deliver a complete comprehensive solution for customers.
Customers of all sizes across vast industries including life sciences, financial services and government are already working with IBM to help accelerate the deployment of solutions to protect, manage, retain and access digital assets. IBM has helped companies such as ChartOne, i3 Archive, National Account Service Company, JPMorgan Chase, and Viewpointe Archive Services to capture and analyze information more effectively to help with government requirements.
Viewpointe Archive Services, the largest provider of check and document image archiving and retrieval services to financial institutions in the U.S., leverages highly scalable, digital storage services to archive and provide access to more than one billion new check images each month.
"Powered by IBM database, content manager and storage technology, we are able to offer financial institutions a secure, mission-critical storage and retrieval system that costs far less than an in-house solution," said John G. Lettko, CEO of Viewpointe Archive Services. "This powerful combination allows our customers to address their regulatory requirements at significantly lower costs and gain an archive with proven operational excellence, world-class disaster recover capability, and retrieval speeds that are unmatched in the banking industry."
IBM Business Consulting Services (BCS) has also released a survey today that highlights the need for comprehensive services and offerings designed to support customers in their compliance initiatives. Only one in ten surveyed CFOs and financial executives from the some of the largest U.S. companies view their internal controls as compliant with Section 404 of the Sarbanes-Oxley Act today, only eight months before the compliance deadline. However, the vast majority expects to be compliant within the required timeframe, which may require significant changes in the way they do business today. Indeed, the majority of surveyed CFO's also view these compliance requirements as an opportunity to streamline systems and improve real-time business process efficiency, even beyond the scope of any specific regulatory compliance requirement.
"The current environment of regulatory compliance requirements is forcing companies in all industries to rethink the way they manage data and business information transparently across the enterprise," said Jim Bramante, Partner, Financial Management, IBM Business Consulting Services. "Our research shows that progressive companies are taking the opportunity to build systems that provide standardized, consistent data in real time across the enterprise that not only address the immediate regulatory requirements, but enable the company to operate as a real-time on demand enterprise."
Most vendors are solely targeting point solutions for customers needing to comply with government standards. However, IBM is already delivering infrastructure solutions packaged together to help customers meet a wide variety of needs for securing content, data and records in a standardized, real-time environment. Additionally, thousands of IBM consultants are helping customers better understand and respond to government regulations, including HIPAA, USA Patriot Act, SEC, Basel II, Gramm-Leach-Bliley Act and Sarbanes-Oxley. IBM BCS, to support customers in their compliance initiatives, provides a range of services to assist customers with outlining a framework for real-time business performance management, business risk management, content management and data integrity.
New hardware, software and services offerings that add to IBM's extensive portfolio of offerings to help customers manage the explosive growth of data include:
IBM Anti-Money Laundering Service - The USA Patriot Act of 2001 requires that companies put an enhanced program in place to "prevent and detect" money laundering. IBM and Searchspace have developed one of the industry's first enterprise hosted utility solution for anti-money laundering, designed to assist organizations in responding to regulations, and prevent costly fines and damage to the corporate brand. The hosted solution replaces what was traditionally a manually intensive process with a scalable, cost effective, automated approach to detecting potential illegal activities within an organization.
IBM Email Archive and Records Management Service - In order to help customers address NASD and SEC regulations (SEC Rules 17a-3, 17 a-4, NYSE 342, 440, NASD Conduct Rule 3010/ 3110), IBM will help provide financial services companies with an on demand email archiving and records management hosted utility service for inbound/outbound email, internal email and instant messages, in a usage-based solution. The service allows for the immediate "real-time" capture of large volumes of email and other documents, their secure storage for periods ranging from months to decades, and their rapid retrieval.
IBM DB2 Content Manager for Data Retention Compliance - A comprehensive software platform, combining IBM DB2 Content Manager, DB2 Records Manager and DB2 CommonStore and services that is designed to help companies address data retention requirements of SEC, NASD and other regulations. The offering provides archival and retention capabilities to help companies address retention of regulated and non-regulated data, providing increased efficiency with fast, flexible data capture, storage, and retrieval.
IBM Lotus Workplace for Business Controls and Reporting - A new software product designed to help customers manage processes, controls and information within companies is intended for companies undertaking initiatives to comply with emerging compliance requirements, such as Sarbanes-Oxley, Section 404. The product is intended to provide a foundation for a company's financial reporting processes and an organized approach to gather information about internal controls. This IBM solution includes a Control Assessment Template, a development tool that runs on IBM middleware software, and also embeds capabilities from IBM WebSphere Portal and IBM DB2 Content Manager software.
IBM Tivoli Storage Manager for Data Retention - Expanded policy-based data retention capabilities in this software are designed to provide non-rewriteable, non-erasable storage controls to prevent deletion or alteration of data stored using IBM Tivoli Storage Managerbefore the policy-based retention criterion is satisfied. Tivoli Storage Manager will also offer event-based retention, expiration/deletion suspension (deletion hold),additional client support for hierarchical storage management, and new device support for Write Once Read Many (WORM) tape and DVD-ROM.
IBM TotalStorage FAStT EXP100 Storage Expansion Unit - A storage disk expansion enclosure that utilizes Serial Advanced Technology Attachment (SATA) disk drives to provide customers online storage and nearline storage at an affordable price. The Serial ATA based expansion is designed to provide up to 28 terabytes of capacity for an IBM TotalStorage FAStT600 and up to 56 terabytes of capacity for an IBM TotalStorage FAStT900.
IBM TotalStorage Enterprise Tape Drive 3592 tape media and drives - IBM previewed plans to introduce Write Once Read Many (WORM) media technology for the 3592 tape drive so that once written, data on the cartridges can't be overwritten. This capability is of particular interest to customers that need to store large quantities of electronic records to meet regulatory and internal audit requirements.
IBM Data Retention Solutions - IBM plans to introduce a comprehensive solution that incorporates IBM SATA disk storage to help archive data. These solutions will leverage IBM Tivoli Storage Manager archive retention and protection technology as well as provide non-rewriteable, non-erasable protection and data retention controls.
IBM Asset Disposition Data Disposal - Disk Wipe Services - Data compliance regulations extend to retiring hardware, when customers must ensure that proprietary information such as financial or medical records is not left on disk drives. IBM is providing data disposal - disk wipe services as part of its comprehensive Asset Disposition & Support Services Offering. This offering is designed to meet rigorous Department of Defense standards, and may be calibrated to meet customer requirements.
IBM's initiative also involves teaming with a series of business partners to help build an ecosystem. Some of the key companies IBM is working with include iLumin, IXOS, KVS, Northrop Grumman, NuGenesis Technologies, Searchspace, Siemens, VeriSign and ZANTAZ.
"Data volumes in health care - especially within imaging management - are rapidly increasing because of continuously improving acquisition and evaluation technologies. Siemens Medical Solutions as a leading healthcare provider is challenged by these large data volumes as well as by regulatory requirements," said Dr. Ulrich Viethen, Group Vice President of Health Services Image Management at Siemens Medical Solutions. "At the same time using that data offers clinicians better patient care. This announcement by IBM delivers a complete portfolio of capabilities to address these challenges by giving the tools and flexibility to deliver medical imaging and healthcare solutions that scale to the most demanding customer's needs."
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Storage software, tape and disk innovations