Major Wall-Street Firm Moves Application Development to the Cloud with Confidence

Wall Street firm saves $130M moving 300 custom applications securely to the cloud

Quick Facts

  • Headquarters: New York City
  • Industry: Financial Services
  • Founded: 1935
  • Products: investment banking, brokerage,  commodities
  • Employees: 60,000+
  • Assets: $800B+

Challenges

  • Consolidating over 4,000 custom applications to one cloud-based development platform
  • Encrypting or tokenizing sensitive data on-the-fly
  • Assuring compliance with GLBA, SOX, BSA, US Patriot Act, and other privacy laws

Solution

  • CipherCloud for Salesforce
  • Secure, deep integration with Force.com platform
  • Single platform provides range of robust security options validated by major banks

Top Benefits

  • $130M saved moving first 300 custom applications to Force.com platform
  • Proprietary data in the Cloud secured for safe access by all authorized parties

May a Secure Force.com Be With You

Major Wall-Street Firm Moves Application Development to the Cloud with Confidence

Challenge

This 60,000-employee Wall Street financial company is well known for pioneering and redefining the global expansion of the finance and capital markets. They achieved this in part by developing custom applications in house that kept up with their pace of growth. They now have over 4,000 custom applications disbursed across multiple platforms.

At this volume, they realized they could gain tremendous efficiencies and cost savings over their legacy in-house approach by migrating their infrastructure to a consolidated, cloud-based platform. But to pull this off, they first had to be sure they could safeguard the vast amount of proprietary information that would soon be in the cloud.

Requirements

For their unified platform, the company selected Force.com, the underlying developer platform of Salesforce.com. This cloud-based, development-friendly infrastructure was highly customizable to their needs and could reduce development time by half. They prioritized 300 of the 4,000 applications to migrate first to the Force.com platform. The only missing piece was how to secure the data that employees, partners, and customers needed to access, without which the project couldn’t meet regulatory requirements.

They needed a solution that could:

  • Protect data residing in a wide range of cloud applications
  • Encrypt and tokenize sensitive data on the fly
  • Prevent outside parties or providers from accessing encryption keys
  • Ensure compliance for content in the cloud

Solution

This critical project was ready to roll as soon as the company found a solution to provide the above levels of data protection in the public cloud, while still allowing the data to be accessible by multiple parties. Through its encryption expertise and extensive experience with the Force.com platform, CipherCloud was able to contribute the in-depth security, rounding out the comprehensive platform and enabling this long-term project to move forward with confidence.

Before being selected, the CipherCloud solution had to pass extensive testing and security audits from multiple internal groups, including Enterprise Architecture, Information Security, Cryptography Services, and Network Operations.

Because this company is now able to consolidate hundreds of applications to the cloud, they expect to experience tremendous cost savings to the tune of $130M for the first 300 migrating applications.

Benefits

Through proven, deep knowledge of encryption, tokenization, and tight integration with the Force.com platform, CipherCloud brought the essential data security puzzle pieces to enable this company’s jump to the cloud. The company launched this business-critical project knowing they could both share and secure data in the cloud, on one central platform. This in turn brought tremendous flexibility and savings as well as a level of confidence that secures not only their data, but also their market leadership and financial viability.

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