Global Bank Achieves $90 Million Savings with Imperva Data Security
Technology Category
- Application Infrastructure & Middleware - Database Management & Storage
- Infrastructure as a Service (IaaS) - Cloud Databases
Applicable Industries
- Finance & Insurance
- National Security & Defense
Applicable Functions
- Quality Assurance
Use Cases
- Cybersecurity
- Inventory Management
Services
- Cybersecurity Services
- Hardware Design & Engineering Services
About The Customer
The customer is a global banking and financial services company, one of the largest banks in the world. The bank operates in over 40 countries and provides a range of services including retail and business banking, wealth and investment management, and corporate and investment banking to over 38 million customers. Given its widespread presence, the bank is subject to a host of regulations such as the Monetary Authority of Singapore Technology Risk Management (MAS TRM), Reserve Bank of India (RBI) Guidelines, and Sarbanes-Oxley Act (SOX).
The Challenge
A leading global bank, operating in over 40 countries and serving over 38 million customers, was facing significant challenges in meeting key regulatory requirements such as the Monetary Authority of Singapore Technology Risk Management (MAS TRM), Reserve Bank of India (RBI) Guidelines, and Sarbanes-Oxley Act (SOX). The bank was using built-in auditing capabilities included with their databases to meet these requirements. However, these tools proved to be costly and unreliable, consuming 20% of their database processing power, requiring additional hardware and software purchases, and necessitating extra storage space for the massive volume of log data being collected. The bank also had to increase its IT headcount to manage the auditing system and run audit reports. The bank estimated that to make their in-house solution work effectively, it would cost them at least $100 million. Furthermore, the bank failed an audit due to their inability to produce consistent and repeatable audit reports that satisfied the different regulations.
The Solution
The bank turned to Imperva Data Security, a market-leading database auditing and protection solution. This automated solution substantially reduced the three hidden cost areas associated with built-in database auditing. Imperva Data Security reduced the 20% increase in database processor utilization by 90%, saving the bank $70 million. The solution added just a 2% load on the database servers. With its ability to retain only relevant information, Imperva Data Security reduced storage cost to $29 million. Furthermore, 32 full-time IT employees were able to focus on other critical projects, translating into $3.3 million savings. Generating audit reports became less complex and required a smaller IT team to operate the solution. The bank’s auditors informed them that their reports were now more meaningful.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Safety First with Folksam
The competitiveness of the car insurance market is driving UBI growth as a means for insurance companies to differentiate their customer propositions as well as improving operational efficiency. An insurance model - usage-based insurance ("UBI") - offers possibilities for insurers to do more efficient market segmentation and accurate risk assessment and pricing. Insurers require an IoT solution for the purpose of data collection and performance analysis
Case Study
Data Capture for Afghanistan Forces
Electronic equipments on the field of Afghanistan provided information on the status of the vehicle and to identify potential threats surrounding it to the British Force. The monitoring and interpretation of this data requires robust and sophisticated digitization for data capture and communication.
Case Study
Smooth Transition to Energy Savings
The building was equipped with four end-of-life Trane water cooled chillers, located in the basement. Johnson Controls installed four York water cooled centrifugal chillers with unit mounted variable speed drives and a total installed cooling capacity of 6,8 MW. Each chiller has a capacity of 1,6 MW (variable to 1.9MW depending upon condenser water temperatures). Johnson Controls needed to design the equipment in such way that it would fit the dimensional constraints of the existing plant area and plant access route but also the specific performance requirements of the client. Morgan Stanley required the chiller plant to match the building load profile, turn down to match the low load requirement when needed and provide an improvement in the Energy Efficiency Ratio across the entire operating range. Other requirements were a reduction in the chiller noise level to improve the working environment in the plant room and a wide operating envelope coupled with intelligent controls to allow possible variation in both flow rate and temperature. The latter was needed to leverage increased capacity from a reduced number of machines during the different installation phases and allow future enhancement to a variable primary flow system.
Case Study
Automated Pallet Labeling Solution for SPR Packaging
SPR Packaging, an American supplier of packaging solutions, was in search of an automated pallet labeling solution that could meet their immediate and future needs. They aimed to equip their lines with automatic printer applicators, but also required a solution that could interface with their accounting software. The challenge was to find a system that could read a 2D code on pallets at the stretch wrapper, track the pallet, and flag any pallets with unread barcodes for inspection. The pallets could be single or double stacked, and the system needed to be able to differentiate between the two. SPR Packaging sought a system integrator with extensive experience in advanced printing and tracking solutions to provide a complete traceability system.
Case Study
Transforming insurance pricing while improving driver safety
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
