Here is some other news from HorizonLive.com.
FIRE Online Training, Inc. and HorizonLive.com Form Strategic Partnership to Launch World's First Internet-Based Compliance Training Service for the Financial Industry
Business Wire - March 01, 2000 19:01
NEW YORK--(BUSINESS WIRE)--March 1, 2000--
FIRE will use Horizon's Technology to Deliver Online
Compliance Training that Conforms to new NASD Rule;
Cost Effective Compliance Program Enables Financial Firms to Save
Millions by Conducting Annual Compliance Meetings on the Internet
Two of America's pioneering companies in the online training field announced today that they have formed a strategic partner relationship for providing the world's first Internet-based compliance training to the financial industry.
The joint announcement was made by Juliana Lutzi, CEO of FIRE Online Training, Inc., and Bob Clyatt, CEO of HorizonLive.com.
According to Ms. Lutzi, "We are tremendously pleased to be working with HorizonLive.com on this important program for financial and insurance companies. Webcasting annual compliance meetings is a huge breakthrough that enables companies to reduce the risk of employees' violating compliance requirements."
Mr. Clyatt also expressed enthusiasm for the joint effort. "FIRE Online Training specializes in NASD securities training and compliance services, and they are truly experts in this arena," he said. "We are proud to be working with such an exceptionally competent organization on this critical program."
Ms. Lutzi explained that FIRE Online Training will make use of HorizonLive.com's proven online training technology, which is used by such organizations as NASA, MetLife, 3Com, and Thompson Global Markets, among others.
She said the strategic partnership came about in response to the National Association of Security Dealers' (NASD) Notice to Members 98-18, which specifically authorizes financial companies to conduct compliance meetings via technology and telecommunications solutions.
"With more than 5,500 financial firms employing some 670,000 registered representatives and 300,000 new candidates applying to enter the field each year, online compliance services will improve communications, distribute information in a more flexible and efficient manner, and streamline internal compliance processes all at a fraction of the cost of traditional compliance meetings," said Ms. Lutzi. "This is potentially a $3 billion market and with Horizon, we are perfectly positioned to capitalize on this opportunity to deliver the most efficient and cost effective compliance training to the financial industry."
The FIRE Online Training CEO said the primary concerns of a financial company's compliance officers are to ensure the distribution of the latest rules and regulations, have an auditable trail that proves employees received and understood the information, and provide easy and flexible access to information for employees.
According to Mr. Clyatt, Horizon's product does just that. "Our online training system enables the financial firm to track attendance and archive information," Mr. Clyatt said. "There's never a question whether a broker participated in the required compliance session or not. Archived sessions provide increased flexibility to distribute this mandatory information so brokers can access the information at their fingertips."
Bill Tanem, Director of Compliance of Legacy Financial Services, believes that online compliance seminars offer enormous value-added services to financial and insurance companies. "Bringing hundreds and in some cases thousands of stock brokers to a compliance meeting is a major undertaking," said Mr. Tanem. "Webcasting provides the most efficient solution for firms to improve internal compliance processes and increase communication with reps in the field, while disseminating critical information. This new service will help streamline logistics and ensure that brokers and firms stay in compliance. This is a win-win proposition for the companies and for the brokers alike."
Ms. Lutzi and Mr. Clyatt said their firms' strategic partnership would be effective today (March 1).
FIRE Online Training, Inc. is a leading provider of exam preparation, compliance services, and professional development to the finance, insurance and real estate industries. (F.I.R.E.). The company delivers an extensive financial services hub and e-learning solution for industry professionals. In addition to having one of the highest pass rates for exam preparation in the NASD securities market space, FIRE is the first company to offer webcasting for compliance services and provides a professional development center to facilitate recruiting between individuals and companies. The company is based in San Francisco. Visit them online at fireonlinetraining.com.
HorizonLive.com is a leader in e-learning, providing live presentations and training over the Internet for organizations and individuals. HorizonLive.com, is a compelling alternative to the complex logistics and high costs of bringing information to large groups of people. Utilizing a common web browser, HorizonLive connects a presenter and an audience either on the Internet, or on a company intranet. The speaker's voice and presentation materials, which can include streaming video, are "pushed" to participants, who type questions and responses back to the presenter and to each other, as in a real classroom. It's a noted improvement over the more static nature of computer-based training (CBT), and offers the ability to convey a "human touch" that makes information come alive.
HorizonLive.com's growing roster of top-tier clients apply the product's capabilities in a variety of contexts, including corporate training, continuing professional education, and sales and new product updates. They appreciate such unique features as automatic firewall access, archiving of live classes for later use, the fact that the product is cross-platformed for Macintosh, Unix and PC's, and is designed to be completely compliant with open Internet standards and protocols.
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