Why Financial Giant Ditched On-Premises Encryption for Echoworx

Customer Experience    | July 24, 2024

In the high-stakes world of financial services, deploying just any email encryption is a naive approach. True email encryption demands seamless integration, strict compliance, and workflow enhancement.

Many legacy and on-premises solutions lack a growth strategy, leading to inefficiencies and soaring costs. Enterprises often try to build and manage these solutions in-house, only to find the costs prohibitive and the hurdles, like compliance, overwhelming.

Opting for a solution with a strong encryption growth roadmap might seem unnecessary, but it’s key for standing out. Being outdated is synonymous with failure.

The Challenge

A leading global bank faced this very dilemma. Their hybrid model, dependent on individual senders and applications dispatching hundreds of thousands of messages, strained on-premises appliances and led to significant inefficiencies. Their system was buckling under the pressure, with a backlog of over 1.6 million encrypted statements per month, draining valuable IT resources.

The Reality Check

Many senior security professionals believe they can build in-house solutions or assume all encryption technologies are the same. However, the CIO Tech Poll: Tech Priorities 2024 reveals that IT leaders prioritize cybersecurity, cost optimization, and IT-business alignment, highlighting the urgent need for scalable, effective encryption technologies. The notion that an in-house solution can match the capabilities of a specialized provider is often misguided and can lead to increased costs and vulnerabilities.

Echoworx’s Scalable Solution

Understanding the bank’s escalating challenges, Echoworx stepped in with a scalable cloud encryption service capable of handling millions of messages each month. This wasn’t just about meeting immediate needs; it was about future-proofing their operations. Over a decade, their encrypted email volume surged to over 9 million messages per month, all securely managed by Echoworx.

The Comprehensive Approach

When tackling a project of this scale, Echoworx considered capability, performance, and the entire ecosystem of internal groups and requirements. The fully managed solution provided by Echoworx significantly reduced the bank’s total cost of ownership, offering centralized management and branding control, and consolidating everything into a single encryption platform. The transition minimized downtime and streamlined user management, reducing in-house servers to just six secure private cloud servers.

The Outcome

By offloading these responsibilities to Echoworx, the bank now delivers millions of automated encrypted statements monthly, enhancing customer communication while cutting support and CAPEX costs. This trusted partnership has resulted in over 100 million encrypted statements sent annually, with mail flow remaining seamless and uninterrupted.

Real-World Results

This isn’t just theoretical. Echoworx provided a cloud solution paired with comprehensive managed services and a team of encryption experts, significantly reducing costs and enhancing capacity. The bank’s IT resources were freed to focus on core business activities, while their email security was robustly managed by Echoworx.

Future-Ready Security

At Echoworx, innovation and adaptability are key. Our straightforward, clear approach ensures our solutions meet the evolving demands of the financial sector. For senior security professionals at global enterprises, the choice is clear: partnering with a specialized provider like Echoworx offers scalable, effective encryption that in-house solutions simply can’t match.