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Press Release
Wachovia Securities Joins Leading Institutional Traders by Selecting FaceTime Communications as the Standard for Instant Message Auditing
FaceTime's Network-Independent IMAuditor Chosen by Wachovia Securities to
Manage, Capture, Store and Supervise Public IM Network Traffic
FOSTER CITY, Calif., April 2, 2002 -- FaceTime Communications, the premier
provider of network-independent instant messaging (IM) applications for
business, today announced that Wachovia Securities, a leading provider of
financial services throughout the East Coast and the nation, has chosen
FaceTime's IMAuditor product to enable compliant real-time communications for
institutional traders. IMAuditor gives Wachovia the ability to leverage the
power of public instant messaging networks such as America Online (AOL) for
time-sensitive business communications, while ensuring administrative controls
are in place to comply with government regulations.
"The widespread use and easy availability of public IM services have caused
financial services firms to take a hard look at the compliance issues
surrounding instant messaging with clients, " said Andy Nybo of TowerGroup.
"Although many firms have turned a blind eye to the use of these services in
the past, the pressure from regulators and the potential for abuse of company
resources have forced securities firms to re-evaluate internal instant
messaging policies."
"Wachovia views its choice of FaceTime's
IMAuditor as a significant
competitive advantage for our traders who can now use an already familiar IM
tool to conduct time-sensitive business transactions," said Tony D' Agostino,
COO, Wachovia Equity Capital Markets. "FaceTime's proven ability to provide the
only solution that can manage and control IM usage for any network, solidified
our decision to rapidly put IMAuditor into production."
"We are pleased to have another financial services leader choose FaceTime as
the standard for auditing instant messaging use in the enterprise," said Glen
Vondrick, FaceTime's President and CEO. "IMAuditor enables Wachovia's traders
to continue real-time communication with other institutional traders who use
public IM networks like the AOL Instant Messenger (AIM), without any change in
user experience. Wachovia's decision further validates FaceTime's strength in
enabling enterprise employees to use any IM network."
FaceTime's unique technology advantage, IM expertise, and ability to provide
customers with authorized application access and integration to any network,
enables the company to deliver practical, value-add solutions on multiple IM
network infrastructures for any business. FaceTime's IM network partnerships
provide IT professionals the confidence and security they need to allow access
to the public IM networks via IMAuditor.
The FaceTime IMAuditor enables IT departments to install a back-end software
server behind their Internet firewall in order to manage and monitor instant
messaging communication across any IM network.
IMAuditor provides the
following capabilities:
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IM Compliance Supervision - the ability to monitor IM message
content for words or phrases restricted by employee roles
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IM Access Control - the ability to allow or disallow certain
employees to use IM, and to enforce the use of only business professional IM
screen names
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IM Identity Management - the ability to map IM screen names with
corporate employee Ids
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IM Export - the ability to export complete IM conversations as
e-mails to any corporate e-mail system, e-mail compliance systems, or storage
systems
The FaceTime IMAuditor includes an easy installation and configuration
process, no change in behavior for users of instant messaging clients,
Web-based reports, and support for existing corporate proxy servers.
About Wachovia
Wachovia Securities is a full-service investment bank providing clients with
equity, fixed income, and convertible research, financial sponsors coverage,
corporate finance and mergers and acquisitions advisory services. In addition,
Wachovia Securities provides such products as debt and equity financing, loan
syndications, derivatives, equity investments, asset securitization, treasury
services and international correspondent banking.
Wachovia Corporation (NYSE:WB), created through the Sept. 1, 2001, merger of
First Union and Wachovia, had assets of $330 billion at Dec. 31 and $28 billion
in stockholders' equity. Wachovia is a leading provider of financial services
throughout the East Coast and the nation. The company operates full-service
banking offices under the First Union and Wachovia names in 11 East Coast
states and Washington, D.C., and offers full-service brokerage with offices in
49 states and global services through more than 30 international offices.
Online banking and brokerage products and services are available through
wachovia.com and firstunion.com.
About FaceTime Communications
Founded in 1998, FaceTime Communications is the leading provider of security solutions for the management and
control of greynet applications such as adware/spyware, instant messaging, webmail, P2P file sharing, web
conferencing and instant voice. FaceTime delivers the industry's first IMPact Index, which assesses "point-in-time"
risks posed by viruses, worms and other malware propagating through greynet applications. FaceTime's award-winning
solutions are used by over 600 customers, among them seven of the eight largest U.S. financial institutions.
FaceTime supports or has strategic partnerships with all leading public and private IM network providers, including
AOL, Google, Microsoft, Yahoo!, IBM, Bloomberg, Jabber and Reuters.
FaceTime is headquartered in Foster City, California. For more information visit http://www.facetime.com or call 888-349-FACE.
PR Contact:
Emily Chamberlin
650-762-2945
echamberlin@ar-edelman.com
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