Chilean Bank Gets Proactive on Data Security After Cyberattacks Rock Latin America
Company Size
1,000+
Region
- America
Country
- Chile
Product
- Forcepoint Data Loss Prevention
- Forcepoint Cloud Access Security Broker
Tech Stack
- Cloud Computing
- Data Security
- Cybersecurity
Implementation Scale
- Enterprise-wide Deployment
Technology Category
- Cybersecurity & Privacy - Cloud Security
- Cybersecurity & Privacy - Database Security
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Cybersecurity
Services
- Cloud Planning, Design & Implementation Services
- Cybersecurity Services
About The Customer
The customer is a private bank founded in 1979 and based in Santiago, Chile. The bank primarily caters to high net worth individuals and corporations, offering a variety of top-notch, individually tailored financial services, including consumer, commercial, and investment banking services; wealth management, securities trading, and other brokerage services; and insurance products. In recent years, the bank has been transitioning to the cloud to support remote bank employees and account managers who meet premier clients in their own environments.
The Challenge
The Chilean bank, which primarily caters to high net worth individuals and corporations, decided to get proactive about bolstering its cybersecurity and data loss prevention posture in the wake of 2018’s high-profile cyberattacks targeting Latin American banks. The bank was not affected by these attacks, but the incidents spurred the Chilean government to begin drafting legislation that will require Chile’s banks to comply with certain cybersecurity measures, including data loss prevention. The bank decided to get ahead of the curve to better protect clients and itself, instead of waiting for government regulations to take effect. The bank has been transitioning to the cloud to support remote bank employees and account managers who meet premier clients in their own environments. The bank needs its security solutions to both adhere to coming government data protection legislation and to safeguard the usage of cloud applications and service providers.
The Solution
The bank decided to implement Forcepoint's Data Loss Prevention (DLP) and Cloud Access Security Broker (CASB) to get ahead of whatever security threats crop up next. The bank chose Forcepoint for both its data loss prevention and cloud application security needs in part because Forcepoint’s solutions were more easily integrated into the bank’s existing security framework than products from competing vendors. Forcepoint’s DLP also met the bank’s requirement for a solution with an educational component to train employees how to make data more secure through their own actions. This was facilitated through employee-coaching tools natively integrated into the DLP platform. On the cloud application security front, the bank went with Forcepoint’s CASB. The same ease-of-integration and educational factors informed the bank’s choice, as well as a desire for a solution that would be ‘tunable’ to evolving business needs.
Operational Impact
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