Mitsubishi UFJ Global Custody Shares Sensitive Data Through Salesforce
This worldwide bank securely uses the cloud to share data across the globe…
- Headquarters: Luxembourg, Tokyo
- Industry: Financial Services and Funds Management
- Assets: $2.5 trillion
- Memberships: 80,000+
- Founded: 1939
- Wanted to leverage Salesforce for sharing information between locations
- Overcoming compliance concerns when rolling out cloud-based applications
- Needed ability to expand usage to multiple cloud applications
- CipherCloud for Salesforce
- Encrypted multiple sensitive fields in Salesforce, local key management, integration of email
- Collaborated with local partner SunBridge for integration services
- Enabled dramatic cost savings and service benefits of moving key systems to the cloud
- Met privacy and compliance requirements for sensitive data in multiple countries
- Rolled out new robust, security platform validated by major banks and third-parties
Mitsubishi UFJ Global Custody – Division of World’s Second Largest Bank – Securely Leverages Cloud Applications
CipherCloud for Salesforce Provides the Essential Encryption Ingredient to Meet Complex, International Compliance Laws
Mitsubishi UFJ Global Custody is a fund management division of Mitsubishi UFJ Financial Group, Japan’s largest financial group and the world’s second largest bank. Their stated mission is “….to meet the needs of their customers, serving society, and fostering shared and sustainable growth for a better world.”
Based in Luxembourg, this division of an 80,000-employee-strong Japanese financial service provider wanted to take its customer services to the next level by expanding its services to multiple cloud applications. They knew Salesforce was the right platform for their purposes, but they were reluctant to proceed with the roll out because of compliance concerns.
Mitsubishi UFJ Global Custody divisions wanted to leverage Salesforce as a platform to increase their data sharing capabilities across different geographic locations. Given the extremely private nature of their customer’s information, as well as strict international compliance and privacy laws, they knew they had to be 100% confident in the security of their financial data.
In order to achieve this level of confidence, they sought a solution that could provide:
- Field-level encryption of sensitive financial and personal customer data
- Localized key management with assurance that no third-party could decrypt
- Ability to expand customer usage capabilities through multiple cloud applications
Mitsubishi UFJ Global Custody bank selected CipherCloud for Salesforce to provide AES 256-bit encryption, which they apply to multiple sensitive fields. They also integrated the solution with an email gateway to streamline communication. Mitsubishi and CipherCloud carried out the entire project with a local partner, SunBridge, who assisted with integration and implementation services.
Through a single platform, Mitsubishi now supports multiple clouds applications, all of which are managed with a variety of security options that suit their needs spanning many diversified requirements. Sealing the security they require, they manage their own encryption keys, gaining the assurance that they cannot be stolen or compromised by any third party.
By moving many of their critical systems to the cloud, Mitsubishi gained dramatic benefits both internally in the form of cost savings, and externally with the ability to provide customers all the advantages of flexible communication through an easy-access – as well as secure — portal.
The Mitsubishi UFJ Global Custody bank was able to accomplish these objectives using encryption and key management to meet privacy and compliance requirements for managing sensitive information in many countries. The result is a robust, secure platform validated by major banks and third parties as they increased their market leadership and financial viability.