Financial Services Firms Turn to BUMI and Global Relay for Comprehensive Data Backup, Recovery and Compliance Solution
New York, NY (October 17, 2011) — BUMI (Backup My Info!), the premier provider of online backup and recovery solutions for small to mid-sized businesses, today announced the addition of DH Frederick Securities, Inc. and The Family Wealth Consulting Group (FWCG) to its growing roster of financial services customers. In addition to online data backup and recovery provided by BUMI, these two California-based financial services firms are also utilizing Global Relay for email archiving – offering an end-to-end solution to safeguard and ensure compliance of business-critical information.
Like many financial services organizations, DH Frederick Securities, Inc. and FWCG use Global Relay services in order to comply with FINRA regulations for the recordkeeping and supervision of electronic messaging. FINRA (the Financial Industry Regulatory Authority), which regulates all firms selling securities in the United States, requires its broker-dealers to archive all transactions and inbound, internal and outbound correspondence relating to their business.
"Compliance is extremely important, and meeting FINRA requirements does not mean financial services firms' data is protected from disaster or other unforeseen events that can cause systemic failure," said Jennifer Walzer, CEO of BUMI. "What Global Relay does for email communications, BUMI does for an organization's data, providing a means to backup and restore all types of business-critical information, applications and systems. Financial services firms such as DH Frederick Securities and The Family Wealth Consulting Group are recognizing that while regulatory compliance is compulsory, data protection is essential."
DH Frederick Securities is a licensed broker-dealer that specializes in assisting clients with capital and consulting needs. It is leveraging BUMI to remotely back up all of its operational systems and applications, such as Microsoft Office files. The company also relies on Global Relay to archive all of its email correspondence, keeping them compliant with government regulations.
"If you had a virus cause a crash or, in our case, being in California, an earthquake, and all your hardware was destroyed, what would you do?" said Dolliver Frederick, Founder, President and Chief Executive Officer of DH Frederick Securities. "For us, in just two phone calls – one to Global Relay and the second to BUMI – we would have all our email, documents, correspondence and database information, and we would be back up and running. That's also extraordinarily important from a FINRA and SEC compliance standpoint."
FWCG is a Silicon Valley-based wealth planning firm that manages nearly $100 million in assets. Prior to selecting BUMI, FWCG managed backups internally and needed an off-site solution to safeguard its data. Additionally, the firm utilizes Global Relay for email archiving. "In the event of an outage, we wanted the capability to recover from a major data loss," said Hilary Martin, Financial Planner at FWCG. "With BUMI and Global Relay in place, I feel completely covered, both from a FINRA-compliance and data backup and recovery perspective."
About Global Relay
Founded in 1999, Global Relay is the expert in Compliance Messaging Solutions — including Archiving, eDiscovery, Mobile Messaging and Collaboration. Global Relay Archive securely captures and preserves email, instant messaging, BlackBerry, Bloomberg, Thomson Reuters, social media and more — with BlackBerry, iPhone, Outlook and web access. Global Relay's 15,000 customers in 90 countries include broker-dealers, hedge funds, investment advisors and public companies, as well as 22 of the top 25 global banks. Global Relay has strategic partnerships worldwide, including a global Strategic Partnership with Thomson Reuters for compliance archiving. For more information, contact Global Relay at 866.484.6630 or www.globalrelay.com.
About BUMI (Backup My Info!)
Founded in 2002, BUMI (Backup My Info!) specializes in delivering online backup and recovery solutions for small to mid-sized businesses. Based in New York City, BUMI provides an off-site data protection solution that addresses critical issues such as rapid growth of data, business continuity, and regulatory compliance. Every BUMI client is cared for by a team of senior-level engineers dedicated to providing proactive and personalized support. Clients include professional service organizations such as banking, financial, insurance, accounting, hedge funds and law firms. For more information, visit www.bumi.com, call (866) 444-BUMI (2864), or follow on Twitter at http://twitter.com/backupmyinfo.