Middleware isn't typically exciting, but in the case of Socialware, this company's middle-man platform allows financials to robustly engage in social media while not violating any of FINRA's rules of engagement. "Socialware's entire mission in life is to make it possible for regulated financial services firms to gain access to social media," says Mike Williams, the company's vp of sales and business development.
Socialware targets three distinct areas: policy creation, moderating employees' activity on networks like Facebook and Linked In, and archiving all required communication between parties. The moderation piece is perhaps the most interesting. It allows a company to block access to features it doesn't condone, create rules around language that's not allowed, and flag status updates or Tweets that could possibly violate standards. Flagged messages are held for human review, and when released, go live as if there'd been no delay. The company has more than 45 regulated firms as clients, including a couple of household names that they're not officially allowed to talk about.
The platform can also be configured to keep tabs on employees who log in from home or on the road. It's sold on a per-user basis. "We let firms go from wielding a sledgehammer of no access or limited access to a highly granular approach," Williams says.
