Our customer, a leading asset management firm, deployed personalisation across their website to improve user experience. They needed an archiving solution which could capture all of these instances and journeys, ensuring they could accurately evidence what was promoted and when.
The customer has a global network of third-party brokers and intermediaries regularly publishing key financial promotions. Therefore, full compliance was also hinged on the ability to monitor and evidence changes in this content if requested by the regulator.
To ensure compliance with MiFID II and the FCA, the firm employed several full-time staff to monitor their web and social media content manually. This burden was removed with the MirrorWeb platform, driving down costs and significantly improving record-keeping accuracy.
One of the UK’s largest asset managers, overseeing billions in AUM for both institutional and retail clients. With a global reach and thousands of employees, this publicly listed firm is dedicated to creating long-term value for clients and helping them meet their investment goals.
MirrorWeb was tasked with creating an extensive archive of the client's web and social media channels to meet compliance obligations. This requirement meant the client needed to archive every instance of their website, including the personalised web journeys delivered through their CMS. Additionally, the ability to archive approval workflows (as and when new pages are published) was important to improve record-keeping standards.
Using MirrorWeb’s archiving platform, our financial services customer is able to create a permanent certified archive in the time-stamped ISO28500 standard WARC file format. Each individual archived file is signed with a SHA1 digital signature and provides an unalterable record of all digital communications to meet compliance obligations.
The MirrorWeb Platform archives all of the client's web and social media content with full authenticity. Every instance of the website is also captured based on geo-location and any rule-based personalisation. Each archive is then available to be replayed, searched and interrogated through the dashboard.
Before MirrorWeb, the client had employed several people to monitor, screengrab and store their digital content to satisfy this regulatory requirement. The process was labour intensive, open to error and not a comprehensive solution to ensure full record-keeping compliance.
Their Service Delivery Manager commented: “The MirrorWeb platform has revolutionised the business’ capability.”
The global asset manager was able to improve record-keeping compliance, reduce headcount and ensure data integrity instantly. The platform also allowed the client to capture all approvals workflows through their CMS when a new page is published, taking an instant archive of the published article along with a record of the audit log.
The data gathered through the MirrorWeb Platform not only surpasses the current FCA guidelines, but also helps with big data initiatives and requirements for legal discovery.
Together, MirrorWeb and the client have also deployed technology to help monitor sensitive content on third-party websites such as financial promotions. Changes to such content can be flagged and archived, ensuring that any financial instrument is monitored for full compliance.