Top 3 US Bank Relies on CipherCloud for Salesforce to Develop Its Consumer Self-Service Loan Origination Portal

CipherCloud has the right product at the right time and price

Quick Facts

  • Headquarters: Charlotte, NC
  • Top 3 US Bank, Top 10 worldwide
  • Industry: Banking
  • Products: Money center bank – business and consumer
  • Employees: 260,000+

Challenges

  • Need to process millions of mortgage loans quickly
  • Develop a consumer self-service loan origination portal
  • Assuring compliance with Dodd-Frank, SOX, and GLBA regulations

Solution

  • CipherCloud for Salesforce
  • Successful encryption of consumer identities, tax and income data
  • Securely handles over 100K customers, 1.5M loans, 1.6M cases, 8M activity tasks

Top Benefits

  • Avoided potentially large fines of millions of dollars per day
  • Achieved real-time web services, custom VisualForce pages / Apex/SSP SAML assertion

Mortgage Crisis Drives Consumer Banking Portal to the Cloud

Top 3 US Bank Relies on CipherCloud for Salesforce to Develop Its Consumer Self-Service Loan Origination Portal

Challenge

When a top US Bank acquired a major home mortgage lender during the financial crisis, it faced a daunting challenge of processing millions of consumer loan modification applications. Strict deadlines imposed by the Dodd-Frank Act forced the bank to consider alternatives to the slow and expensive process of developing applications in-house.

The Salesforce platform offered a practical and cost-effective way to rapidly develop a new Consumer Loan Portal with pre-built, highly customizable, cloud-based infrastructure. But security was a problem – storing sensitive customer data in a public-cloud environment risked violating numerous privacy and financial regulations.

Requirements

The bank identified the following “must-have” requirements before the Salesforce initiative could move forward:

  • Overcoming security, privacy, and compliance concerns by eliminating the possibility of breaches or unauthorized access to private customer data;
  • Granular control on a field-by-field basis over the level of security for each type of data;
  • Protecting both structured data (in specific Salesforce fields) and unstructured data (documents, attachments, and messages);
  • Scanning uploaded documents from untrusted parties for malware;
  • Integration with backend systems including IBM AS 400;
  • High throughput, minimal latency, and scalability to meet changing business requirements;
  • Seamless integration with Salesforce preserving search and sort capabilities;
  • Meeting aggressive timelines for a fully functioning deployment.

Solution

CipherCloud for Salesforce was deployed in a clustered high-availability configuration, providing AES 256-bit encryption and malware detection for a wide range of Salesforce fields and customer loan documents. The solution rapidly designed, deployed, and tested, meeting tight customer timelines, and was successfully integrated with an IBM AS 400 iSeries system via Informatica, with support for real-time web services, custom VisualForce pages and Apex/SSP SAML assertions

With CipherCloud and Salesforce, the bank processes over 2,500 files per hour, and has successfully worked through a backlog of over 1.5 million loans, 1.6 million cases, and 8 million activity tasks.

Benefits

By overcoming security obstacles, CipherCloud enabled a critical Salesforce initiative which resulted in significant cost savings, unprecedented time-to-market, reduced infrastructure and support costs, higher performance, and increased agility to respond to new customer requirements. Based on this success, the customer has already begun deployment of several new cloud applications secured by CipherCloud.

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