Now that Instagram has launched separate profiles for businesses, social network-compliance company Actiance has stepped in to help banks engage in their own Instagram accounts in a compliant way.
The California-based company expanded Actiance Socialite to help banks and other companies monitor account activity, archive posts, and generate analytics from the post-image engagement and comments. Because business activity on Instagram is classified as advertisements, and comments are considered business records, a company’s Instagram posts are subject to regulatory scrutiny. Socialite helps banks retain data and instantly search and retrieve posts and images if necessary.
Joanna Belbey, social media and compliance specialist at Actiance, said, “Forward-thinking companies are increasingly using Instagram and other social channels to connect with digital audiences … . Actiance Socialite makes it easy for companies to support new channels, such as Instagram, as they enter the enterprise and make the most of their communications data for both regulatory and business purposes.”
Actiance helps banks and financial institutions manage, secure, and ensure compliance across applications and social media platforms. The company last presented at FinovateFall 2012 where it debuted Socialite. Actiance has raised almost $44 million from 7 investors since launching in 1998. Earlier this year the company brought on Naresh Bansal as its new CFO.