Digital marketing is creating new opportunities for financial service providers, and also new risks. To be relevant and effective, digital marketing content needs to be:
There is much more content for financials service providers to review and approve, and it needs to be done in a timely manner. At the same time, financial service providers face increased regulatory scrutiny. ASIC has signaled it is increasing vigilance in monitoring all forms of advertising and websites appear to be of particular focus. ASIC has also made it clear that it expects financial service providers to have implemented robust processes to review and approve marketing content.
There is currently no consistent industry approach to managing the risks associated with digital marketing, and most agree that the existing ad hoc processes are not working.
Red Marker has developed Artemis, in conjunction with Kaplan Professional, to reduce digital marketing compliance risk. Artemis is a purpose built software solution for the Australian financial services industry that automatically identifies and analyses digital marketing content for compliance risk and provides a workflow solution to manage the digital marketing compliance process. Red Marker has partnered with leading compliance specialist The Fold Legal to develop and refine the compliance rules that power the Artemis application.
Our two products address different situations for financial service providers:
Artemis WebReporter ... identify and manage ... by identifying, analyzing and providing tools to efficiently manage the remediation of non-compliant published website content, the Artemis WebReporter can reduce the likelihood of a financial service provider continuing to publish non-compliant content on the web
Artemis Compliance Manager ... train and mitigate ...through the real-time identification of non-compliant content as it is authored and implementation of streamlined review and approval processes by compliance teams, financial service providers can proactively train and manage content authors to reduce the likelihood of non-compliant digital content ever being published