Bank of Georgia has implemented ProfitStars' Gladiator Social Media Compliance (SMC) Services to assist in proactively managing the risks associated with social media platforms.
ProfitStars is a division of Jack Henry & Associates, a provider of computer systems and ATM/debit card/ACH transaction processing services for financial services organizations.
Jack Henry & Associates said that Gladiator’s security expertise will allow Bank of Georgia to organize its informational security policies.
Gladiator’s SMC Services include strategic planning, risk management, employee and customer education, incident response, audits and testing, and more.
ProfitStars president David Foss said that while banks have guidance from FINRA that they should supervise social media activity, and from the FFIEC’s IT Handbook InfoBase on new technology implementation strategies, there is no definitive standard for regulating these platforms.
"ProfitStars has modeled the Social Media Compliance Services after Gladiator’s other industry-leading regulatory compliance guides to provide financial institutions with a sound social media strategy that will help protect their integrity," added Foss.