Major Bank’s Scalable Encryption Breakthrough

Customer Experience    | July 17, 2024

Today, we explore how a multinational financial institution transformed its email security with Echoworx’s scalable encryption solution, providing not only additional capacity and capability, but also significantly reducing overall costs.

Securing business emails goes beyond just deploying encryption; it requires seamless integration, compliance, and workflow enhancement. In the dynamic world of financial services, staying ahead of security challenges is paramount, while also maintaining a stellar user experience without escalating costs.

Regrettably, many legacy and on premises encryption solutions lack a comprehensive growth strategy. In this case, their hybrid model required individual senders to deliver secure emails, alongside applications responsible for dispatching hundreds of thousands of messages simultaneously, straining on-premises appliances and causing inefficiencies.

This issue is widespread. The CIO Tech Poll: Tech Priorities 2024 reveals IT leaders across industries face similar challenges, with top priorities being cybersecurity (64%), cost optimization (46%), IT-business alignment (42%), and innovation (41%). This underscores the urgent need for scalable, effective encryption tech.

Choosing a solution with a strong encryption growth roadmap is crucial for setting your business apart. Opt for a dynamic solution rather than one that is stagnant or end-of-life.

Here are some key takeaways from our customer success story, highlighting how to achieve protection, efficiency, IT alignment, and innovation acceleration without scaling up costly appliances:

Echoworx Steps In

Understanding the bank’s challenges with their current e-statement solution, which was failing to meet increasing business demands, Echoworx provided a scalable cloud encryption service to deliver millions of messages each month. The previous system was overwhelmed, with a backlog of over 1.6 million encrypted statements monthly and significant IT resources drained for user management.

It also lacked essential multilingual email support, crucial for the bank’s operations. This transition not only met the bank’s immediate needs but also positioned them for future growth. Over the past decade, their email encryption volume has surged to over 9 million messages per month, all securely managed by Echoworx.

In today’s rapidly evolving digital landscape, email security and encryption technology are advancing, offering substantial benefits for businesses committed to robust cybersecurity.

A Comprehensive Solution

When tackling a project of this scale, Echoworx looked at capability, performance, and the entire ecosystem of internal groups, interests, and requirements. We provided a fully managed solution, significantly reducing the bank’s total cost of ownership. Our approach includes support, infrastructure management, and seamless integration with the bank’s existing processes.

Our solution scales dynamically to handle high-volume output and supports full integration with 28 languages. It offers centralized management and branding control, consolidating everything into a single encryption platform. We reduced in-house servers to just 6 secure private cloud servers, minimizing downtime with self-service user management.

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. Echoworx provided not only a cloud solution but also comprehensive managed services and a team of encryption experts, enhancing capacity and significantly reducing costs. With over 100 million encrypted statements sent annually, mail flow remains unaffected.

This trusted partnership has proven effective, providing a seamless solution that aligns with their needs. This collaborative model is the cornerstone of our success and why we’re proud of what we’ve achieved together.

Looking Forward

At Echoworx, we continue to innovate and adapt, ensuring our solutions meet the evolving demands of the financial sector. Our straightforward, helpful, and clear approach remains at the heart of everything we do, delivering simple, effective email encryption solutions.