Creating Custom Banking Data Protection
The ChallengeBanking is an incredibly competitive industry. In order for a major bank to keep its competitive edge it needs to continually make it easier for customers to access their accounts and conduct transactions digitally. How important is this? For many customers technological advancements are just as important in choosing a bank as interest rates. So, bottom line, the ability to test new technological updates is critical. Such testing, however, is strictly regulated by the federal government and, in order to be compliant, it must be conducted in such a way that actual customer information has to be protected.
Because of our reputation as a leader in data protection, the bank partnered with us to demonstrate our expertise with Fidelity Information Services (FIS) applications, including FIS compressed data. The objective was a 50% reduction in data volume – an estimate that would produce savings direct access storage devices (DASD) alone of over $450,000 in 2015, not to mention a corresponding reduction in CPU cycle costs. By listening to the bank’s needs, we reduced testing times resulting in $1.2 million in savings in the first year of implementation. Having demonstrated this high level of success on an initial project, they contracted with us on a longer-term project.
To attract and retain customers, the bank needed to test new functionality and technological advancements continually. Using our expertise in the financial industry, we designed a data protection system that kept the bank regulatory compliant. As a result, the bank saved a MINIMUM of $1 million the first year of deployment.