Financial Crisis Underscores Need to Bridge M&A Data Transfer Gaps Fast

Published 25th November 2008

DataMotion’s Intelligent Information Transport Platform Governs Information Transfer for Immediate Secure Business Communications and Transparency

Morristown, New Jersey & London UK, 24th November 2008 – Banks, stock brokerages and investment houses have felt the impact of the global financial crisis, recognizing the immediate need to regain customer confidence. The current market volatility, numerous financial institution mergers and acquisitions, and the U.S. Treasury’s $700 billion bailout program to rescue the financial services industry, underscore the immediate need for increased transparency and governance solutions.

DataMotion’s IIT platform, an on-demand or on-site service offering, governs information transfer between disparate and often-asynchronous legacy systems for secure business communications and trustworthy collaboration. With the IIT platform, companies can move, track, filter, audit, manage and secure all sensitive information no matter what their existing systems may be.

“When the house is on fire, that’s not the time to think about putting in smoke detectors,” said Frank Kenney, research director, Gartner. “Financial institutions can wait no longer. They must make the move today from being reactive to proactive to ensure they have security, visibility and audit-ability – in other words – governance, and it must be baked into their messaging and workflow solutions.”

DataMotion’s IIT platform provides a simple and effective workflow solution that allows financial institutions to communicate securely with colleagues, business partners and customers – with built-in compliance that ensures that all applicable government mandates are automatically and properly enforced regardless of what systems are in place.

DataMotion’s IIT platform enables financial companies to:
• Easily connect disparate or asynchronous legacy systems with no additional middleware or hardware requirements
• Transfer securities and other financial information securely
• Enable trust via transparency
• Ensure the right people are receiving the right information
• Increase the effectiveness of business collaboration tools
• Reduce operational costs by replacing paper-based delivery with secure, automated on-demand services

“In this climate of intense scrutiny, competition, reduced margins, stringent regulations and increased consolidation in the industry, financial institutions need to close the gaps in their business communications,” said Kelly Mackin COO and president, DataMotion, Inc.

“DataMotion provides an intelligent information transport system that can bridge disparate systems, improve service levels and build customer trust. And since our IIT service is offered as an on-demand service in the cloud, our customers are up and running in a matter of days. Companies going through M&A can send secure messages to their new colleagues and business partners, well before their internal email systems can be integrated. This is crucial in exchanging critical information needed to keep key customers and business partners satisfied during this time of financial volatility and market uncertainties.”