Top 5 Canadian Bank

As one of Canada’s top five banks, this financial institution needed a more efficient and secure way of sharing their sensitive Merger & Acquisition (M&A) and IPO data with employees and partners. Realizing a cloud-based platform was the way to go, they opted to migrate their custom banking CRM system to Salesforce.com (SFDC).  They also rely on Chatter, Salesforce’s internal communications platform. This migration would provide a big boost to their process and cost efficiencies.

Quick Facts

  • Top 5 Canadian bank
  • Headquarters: Toronto, Canada
  • Founded: 1867
  • Products: Retail & Business Banking,
    Wealth Mgmt., Wholesale Banking
  • Employees: 42,000+

Challenges

  • Sharing sensitive banking data using public-cloud infrastructure
  • Assuring compliance with Canadian and global privacy laws with data hosting in US-based servers
  • Key Regulations: PIPEDA, EU Privacy Laws, US Patriot Act

Solution

  • CipherCloud for Salesforce and CipherCloud for Salesforce Chatter
  • AES encryption for sensitive data
  • High-capacity, redundant deployment

Top Benefits

  • Company able to share sensitive M&A and IPO data safely in the Cloud with partners and employees
  • CRM system safely migrated to the Cloud makes for a more affordable bottom line and more efficient processes for employees every day

It’s Clear, Confident Skies For This Bank’s Chatter Cloud Deployment

Large Canadian Bank Safeguards Proprietary M&A and IPO Information in the Cloud

Challenge

As one of Canada’s top five banks, this financial institution needed a more efficient and secure way of sharing their sensitive Merger & Acquisition (M&A) and IPO data with employees and partners. Realizing a cloud-based platform was the way to go, they opted to migrate their custom banking CRM system to Salesforce.com (SFDC).  They also rely on Chatter, Salesforce’s internal communications platform. This migration would provide a big boost to their process and cost efficiencies.

The challenge was to make sure the placement of information in the Cloud, with servers primarily based in the US, would fully comply with PIPEDA (Personal Information Protection and Electronic Documents Act). PIPEDA defines how Canadian organizations must handle personal information – it’s collection, use, and disclosure — while ensuring individuals’ rights to privacy.

Requirements / Objectives

Adding further complexity to these needs, certain provisions of Canada’s PIPEDA privacy are believed to be in conflict with the U.S. Patriot Act. This Canadian bank had to ensure their own more stringent laws remained in effect even when their information crossed international electronic borders. Placing their highly confidential M&A and IPO data in the Cloud had to be a secure, compliance-abiding operation.

The bank also wanted to give their users – including mobile – access to convenient Chatter functions such as chat, instant messaging, and searches on the fly without any performance hits.

This bank needed to have:

  • Assurance their structured and unstructured data was encrypted at a granular level (within SFDC and Chatter, including free form text fields)
  • Compliance regulations in force (through encryption and other means)
  • No access by foreign entities to personal data regulated by Canadian law
  • Continuing access to multiple third-party applications (Cognos, Kerberos)

Solution

CipherCloud’s unique knowledge of the SFDC and Chatter platforms allows them to apply the industry’s strongest AES 256-bit encryption at a granular level down to individual data fields and characters in SFDC and Chatter, including freeform text and search fields. The performance impact compared to unsecured Salesforce operations is negligible at less than 3%. Their hundreds of users experience fast functionality without skipping a beat.

CSOs are happy too, knowing their confidential information is protected to the level of their own country’s regulations, no matter where in the world the data resides. Moreover, they retained the flexibility to integrate other third-party developer platform features such as Cognos and Kerberos.

Benefits

The Canadian bank was able to roll out their SFDC and Chatter cloud initiative on time with full assurance that PIPEDA requirements were in place. They also experienced 100% satisfied adoption rate from their users with no slowdowns or usability impact.

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