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Case Study - data security for the Finance industry

See how PrimeRevenue Inc. uses FileAssurity OpenPGP Command Line to:

  • protect customer financial and personal information
  • verify files that have been transferred
  • save time and money


PrimeRevenue chose FileAssurity PGP Command Line over McAfee Ebusiness Server




PrimeRevenue, Inc. is a leading supplier of Financial Supply Chain managed service software.  Setting the standard in providing fully automated early payment and settlement services between buyers and suppliers through a managed service network solution, PrimeRevenue, Inc. bridges the supply chain with financial services to optimize the total relationship between buyers and suppliers to return immediate bottom line benefit to each.   www.primerevenue.com

This case study shows how PrimeRevenue saved time and money implementing FileAssurity PGP Command Line to protect large volumes of sensitive financial information being sent to partner banks.

Protecting customer financial and personal information to a high standard is now a critical activity that the finance community has to deliver on.  Institutions must avoid any possibility of being accused of governance failures either from Sarbanes-Oxley or the GLB Act bringing with them.

Many organizations are still relying on SSL sessions when collecting or transmitting customer personal data even though spoofing and other attacks can subvert SSL technology.  PrimeRevenue realised that an SSL solution would not be secure enough and looked for a standards based solution using digital signature and encryption technology that would satisfy their demanding requirements.

They identified the OpenPGP standard as being the most widely implemented technology for file encryption and digital signatures and searched for a suitable product to work with.

PrimeRevenue had to support a number of business processes in the secure operations they deliver to their business partners, including:

  1. encrypting and digitally signing files for the recipient bank(s)
  2. using FTP to send   files to their partner banks
  3. verifying those files with the banks
  4. being able to archive files by re-encrypting them with their own key
  5. securely deleting original files to ensure they cannot be recovered and compromised
  6. providing an audit log of the whole process for accountability reasons

PrimeRevenue evaluated a number of products before deciding to purchase FileAssurity PGP Command Line as the best of the competition.

Jeff Simizon of PrimeRevenue said 'The main reasons we selected ArticSoft was cost and ease of use.  With the economy the way it is today we look to save money, but at the same time are not willing to sacrifice functionality in a product.  After evaluating McAfee E-Business Server and similar (they did not have the equivalent of the functionality of CLS so to implement their solutions we would have had to do some programming ourselves) we determined that ArticSoft had more to offer at a fraction of the price. Some of our partner banks are using McAfee E-Business Server or similar, and we have not had any compatibility issues.  So it was a win win situation for us 'full interoperability, lower cost, greater functionality and greater ease of use all in one package".

"Implementation was quick and easy.  After the download it was all up and running in 15 minutes.  Other products we tested were somewhat more time consuming."

"We have not had to call ArticSoft support yet, but have used their email support, and they have been very responsive.  I think one reason we have not used support much is due to the products ease of use, and that it does what it says."

"Our customers find that they get more from our solutions", says Steve Mathews, CEO of ArticSoft.  "More savings, more ROI, more features and more capability.  And that is what we aim to provide with all our FileAssurity products. FileAssurity PGP Command Line is an out of the box, setup and forget product that runs each time and every time."


 

 

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Financial Security Case Study - data security for the Finance industry