Case Study

Regulatory Record keeping, Data Archiving and Application Retirement at a Fortune 10 Bank

Infobelt manages an astounding 30+ trillion records with an influx of 20 billion new records every single day. Our advanced archiving solution has successfully integrated data from a diverse ecosystem of over 550 legacy applications and data sources, ensuring automated discovery and easy accessibility. As a long-standing and trusted technology partner with the client, we are dedicated to driving innovation and excellence in data management together.

Customer Context and Solution Overview

Infobelt’s comprehensive data archiving solution revolutionized the Fortune 10 bank’s approach to data management, regulatory compliance, cost efficiency and security. At the heart of this transformation was the implementation of the Infobelt Omni Archive Manager (OAM) and the Infobelt Application Retirement System (ARS), which together provided a robust framework for managing the bank’s vast and diverse data ecosystem.

The Omni Archive Manager served as the cornerstone of the bank’s new data archiving strategy. This solution provided a unified platform capable of ingesting, processing, and storing a wide array of data types – from structured database records to unstructured content like emails, documents, websites and multimedia files. By consolidating these diverse data sources into a single repository, the bank gained unprecedented visibility and control over its information assets.

Advanced Retention Management

One of the key features of OAM platform is its advanced retention management capabilities. The system allowed for the implementation of granular, policy-driven retention rules that could be tailored to meet the specific record keeping requirements of various regulatory bodies for different data types and business units. This flexibility was crucial in ensuring compliance with the complex and often changing regulatory landscape of the banking industry. The ability to implement immutability, apply legal holds coupled with automated retention and deletion processes, significantly reduced the risk of non-compliance and inadvertent data loss.

Transformative regulatory compliance

From a regulatory compliance perspective, the impact was transformative. The bank could now respond to regulatory inquiries and audits with unprecedented speed and accuracy. The advanced eDiscovery capabilities allowed legal and compliance teams to perform highly targeted searches across the entire data archive, dramatically reducing the time and effort required to compile regulatory reports or respond to legal discovery requests. This not only improved the bank's regulatory posture but also reduced the operational burden on IT and legal teams.

AQL Copilot

AI-based Archive Query Language

AI-powered Archive Query Language to retrieve data and generate reports through intuitive natural language queries. Our system enabled the client to speed up data analysis and simplify reporting.

Secure data storage and access control

Data security was another area where the Infobelt solution provided significant benefits. By centralizing data storage and access control, the bank could implement more robust and consistent security measures across its entire data estate. The archiving architecture offered state-of-the-art encryption and access controls, ensuring that sensitive financial and personal data remained protected from unauthorized access or breaches including ransomware attacks. Moreover, the system’s ability to create secure workspaces for confidential data added an extra layer of protection for the bank’s most sensitive information.

WORM Immutability

WORM (Write Once, Read Many) feature ensured that once data is written it cannot be altered or deleted for a specified retention period, thus maintaining data integrity and authenticity. Additionally, WORM helps protect against ransomware attacks by rendering data immutable, making it impossible for malicious actors to hold hostage via encryption or deletion of critical information.

Cost savings and storage optimization

The cost savings realized through OAM solution were substantial. By transitioning to a modern archiving system, the bank significantly reduced its legacy storage and infrastructure costs. The intelligent data retention policies allowed for the timely deletion of unnecessary data, further optimizing storage utilization. Additionally, the automation of many data management tasks, including user management and eDiscovery processes, led to significant reductions in operational costs and IT resource requirements.

Scalability to accommodate growing data volumes

Most importantly, the Infobelt solution positioned the bank for future growth and challenges. The scalable nature of the archiving system meant that the bank could easily accommodate its growing data volumes without the need for constant infrastructure upgrades. The flexibility to add new data types and users as needed ensured that the archiving solution could evolve alongside the bank's changing business needs and technological landscape.

Some of the key capabilities provided by our archiving system

Robotic Process Automation (RPA) enabled data ingestion, indexing, organizing, and retrieval; AI, ML and NLP for critical functions such as query processing; robust connectors compatible with several platforms; metadata management and legal hold capabilities; semantic indexing for enhanced searchability; compliance with all records management and preservation mandates

Foundation for long-term data management

Infobelt’s data archiving solution not only addressed the immediate challenges faced by the Fortune 10 bank but also provided a foundation for long-term data management success. By enhancing regulatory compliance, strengthening data security, and delivering substantial cost savings, the solution transformed the bank’s approach to data management from a necessary burden into a strategic asset, positioning the institution for continued success in an increasingly data-driven financial landscape.

Refer Infobelt Omni Archive Manager for detailed product capabilities.