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Socialware Reports Financial Services Professionals Embrace the Social Enterprise
[October 29, 2010]

Socialware Reports Financial Services Professionals Embrace the Social Enterprise

Oct 29, 2010 (Close-Up Media via COMTEX) -- Socialware, a provider of social media compliance, announced that demand continues to accelerate for Socialware's technology, products and services.

In a release dated Oct. 25, the Company said it added 25 new financial services customers in the third quarter of 2010 and has seen a 250 percent increase in growth over 2009. Moreover, the company continued to innovate through their Social Middleware platform with game-changing products for the financial services industry, including Socialware Compass, a tool for automating social networking policy on public social networks, and the recently launched Social Media Policy Accelerator Kit, which provides a tailored, step-by-step framework to help companies create a social media policy that fits the needs of their business. To support the growth of social media best practices and knowledge, the company also launched, a site dedicated to catalyzing and leading the conversation on social media best practices in the financial services industry.

"Public social networks represent a revolution in the way that financial services professionals connect with consumers, partners and employees -- and we are working hand-in-hand with our customers to ensure that this shift happens in a compliant, secure and effective way," said Chad Bockius, CEO of Socialware. "Where six months ago financial services companies were cautious and weary of social media, now we're seeing heavy interest in getting programs and strategies going to take advantage of this medium. We're extremely proud to be an accelerant and partner in this adoption." Highlights include: Socialware currently services 11 of the top independent broker dealers in the nation, a top-five wealth management firm, as well as financial brands, including New York Life Insurance Company. Socialware has also expanded its strategic partnerships in order to best serve its financial services customers, having signed agreements with messaging and discovery vendors, including LiveOffice and Smarsh, as well as financial regulatory agencies like LIMRA. Most recently, Global Relay, a SaaS Archiving provider for Compliance, eDiscovery and Mobile messaging has partnered with Socialware to enable social media compliance for its 14,000 customers.

Socialware launched, a community for financial professionals. As part of this effort the company created the SocialTurns Council, a group of industry professionals from companies like Prudential, American Century and LIMRA to help ensure the success of the community. Socialware's research on social media usage among financial advisors was also featured in the Wall Street Journal.

Socialware appointed Mike Williams as Vice President of Sales and Business Development.

The company has received funding with high-profile venture capital firms, including G-51 Capital, Silverton Partners and Maples Investments.

Socialware bridges the gap between the enterprise and social networks to transform the way that companies and their employees engage and communicate with clients, partners and one another.

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