Temenos, the Swiss fintech vendor, announced the launch of SocialComply, which is a social media monitoring and compliance solution, reported Finextra. The too was created to help financial companies interact with its customers while also controlling risks management.
Recent reports show that although consumer interaction with current financial social media is low, people are willing to start engaging more with banks. Temenos said that it hopes SocialComply will help build customer relationships through social sites and mitigate the risk that comes with new channels.
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Mark Winterburn, group product director, Temenos, commented, “Financial services firms are not embracing social media because of perceived risks and this is why we have launched SocialComply – to help financial firms engage as fully as they would like without taking risks with their brand and reputation and without exposing themselves to potential compliance breaches.”
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