Colt Adds Safe Share to its PrizmNet Solution

Colt Technology Solutions’ PrizmNet extranet solution, a financial services utility that helps connect providers of financial content to capital markets firms – has welcomed nscglobal and Covata to its comprehensive network of users, according to a Colt statement.

Colt PrizmNet allows Capital Markets firms to integrate with new markets and clients in a more streamlined fashion, via its sovereign private network that focuses on content delivery - the new additions will also garner access to the Safe Share secure file-sharing solution. Safe Share enables capital markets participants to share all manner of information over Colt PrizmNet, namely sensitive company data – nscglobal and Covata join a global list of users that rely on the solution for their business.

According to Jean-Marc Jefferson, Operations Director at nscglobal, in a recent statement on the integration: “Safe Share helps customers meet their statutory Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term and regulatory requirements by ensuring that stored data is always encrypted, and that the encryption keys and algorithms are protected. This secured data solution will enable financial institutions to meet rigorous levels of corporate governance, access monitoring and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term.”

“Colt PrizmNet is the ideal platform for delivering Safe Share, and fits neatly with our strategy of driving a variety of services, solutions and content through Colt PrizmNet, creating a capital markets eco-system. Leveraging Colt PrizmNet for multiple services across front, middle and back office allows our customers to benefit from real economies of scale, whilst not compromising on security or service,” added Hugh Cumberland, solution manager at Colt in an accompanying statement.

“From our history in Government and Defence, we deeply understand the security demands of the capital markets. Safe Share is unparalleled when it comes to delivering a data centric security solution to support compliance and regulatory requirements. We are delighted to be partnering with Colt to offer this security service to the sector,” noted Covata CEO and Founder, Trent Telford.

Earlier this month, Colt tapped Carl Grivner as its newest Chief Executive Officer (CEO), whose tenure will take effect only at the start of the New Year on January 1, 2016. Mr. Grivner had originally joined Colt back in May 2015 and currently serves as its Executive Vice President of Network Services. His ascension was necessitated by the recent announcement of Colt’s CEO, Rakesh Bhasin, that he would be relinquishing the role after nine years as of December 31, 2015