80B files of data sprawl optimized with intelligent data management to protect customer privacy and reduce the risk of data exposure
for a Fortune 50 U.S. Bank with more than 50M users worldwide
Business Need
- Data sharing for internal constituents while protecting customer privacy
- Integrating organizational data silos with data governance to enhance security, compliance and privacy controls
Challenges Faced
- Unstructured, unsecured, duplicate, and ungoverned data sprawl of customer PII leading to potential data exposure, cyberthreat and non-compliance
- Lack of customer data intelligence leading to multiple rounds of customer follow ups and poor CRM
- Inability in leveraging the data due to the lack of centralized data management,, interoperability, and efficient data sharing & access
Solution Offered
Identification
- A preliminary assessment of data sets
- Identifying deep insight within data
- Classification of data location, format, extension, type of data, and more
Analysis
- Removing duplicates and optimization of search by adding data tags
- Data analytics for higher governance and risk mitigation
- Identify files with privacy information
Action
- Applying intelligence to the high-risk data for compliant and secure data management
- Creating an immutable audit log backed by blockchain technology to track the data access activities
- Data consolidation to drive compliance, analytics, and security, and giving role-based access
Business Impact
- 80 billion files of data sprawl optimized to reduce the risk of data exposure
- In an era where the average cost of a data breach in the USA is $7.91 million, we helped the bank mitigate potential penalties with a fortified compliance & security ecosystem by:
- Consolidating the data governance across data silos and role-based access
- Data intelligence to optimize data sprawl and technology-driven privacy controls
- Realized an ability to report to regulators efficiently
- Strengthening customer trust
- Eliminated reputational risk