Financial Services Industry Banks on Varonis Data Governance Software to Manage Unstructured Data
Deployments in Institutions Like People’s United Bank Demonstrate the Critical Role Varonis’ Award-winning Software is Playing in Data Protection and Management
NEW YORK - Dec. 11, 2007 - Varonis Systems Inc. (http://www.varonis.com), the foremost innovator and provider of comprehensive, actionable data governance software, today announced that it has added People’s United Bank to its growing roster of marquee clients both within and beyond the financial services industry. Data protection and regulatory compliance are imperatives for the financial services sector, and the Varonis software suite is distinctly meeting needs in this industry by providing a fundamental framework for comprehensive control of file share data. http://www.varonis.com/solutions/industries/financial-services.html
Financial institutions must adhere to the strictest regulations for the protection of sensitive and valuable information in their care. It is incumbent on them to closely monitor and proactively mitigate risk because data breaches in this sector not only compromise customer and corporate confidentiality, but can also be extremely damaging to both business and brand. The unique capabilities of Varonis to automatically identify overly permissive access make the company's software one of the most rapidly adopted applications among financial services institutions today. Varonis quickly delivers quantifiable risk reduction and increased security by ensuring that only the right users have access to the right data.
"As one of New England’s largest independent banks, we were challenged to continuously evaluate and optimize our security posture, eliminating overly permissive access privileges within a growing employee base of more than 3,000," said Timothy Callahan, first vice president, technology risk management, and chief information security officer for People’s United Bank. "Varonis’ software is at the core of our data governance initiative. As we grow our business organically and through acquisitions, Varonis technology will ensure that vetted and sanctioned data access controls are propagated accurately and expeditiously to the file sharing environments of the acquired entities."
People’s United Bank joins other Varonis customers such as Condé Nast, EMC Corp. and the Museum of Modern Art, which are using Varonis to tackle unstructured data governance. Addressing the issue in two fundamental ways, the technology first provides a framework that ensures access to data is warranted, and then furnishes the means by which IT can transition data entitlement management to data business owners.
Varonis DatAdvantage software recommends access privileges based on analysis of user-to-data access patterns and behavior. The Varonis recommendation-generating technology is patent-pending and customer-proven to be multiple nines accurate. Varonis DataPrivilege software, a companion to the flagship DatAdvantage, enables data stewards within an organization to respond to and address all aspects of user access requests to business information without involving the IT department, infrastructure changes or business disruption.
"We applaud People’s United Bank as a thought leader and innovator that is taking up the implementation of data governance in its organization," said Yaki Faitelson, president, CEO and co-founder of Varonis. "Financial institutions, like all enterprises that deal with valuable information, understand that only with Varonis technology is control of unstructured data pragmatic and achievable."
About Varonis
Varonis is the foremost innovator and solution provider of comprehensive, actionable data governance solutions. Named a 2007 "Cool Vendor in Data Management and Integration" by Gartner, the company has more than 380 installations worldwide. Based on patent-pending technology and a highly accurate analytics engine, Varonis' solutions give organizations total visibility and control over their data, ensuring that only the right users have access to the right data at all times. Venture backed by Accel Partners, Evergreen Venture Partners and Pitango Venture Capital, the company has headquarters in New York, N.Y., with research and development offices in Hertzliya, Israel.
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Varonis, the Varonis logo, DatAdvantage and DataPrivilege are trademarks or registered trademarks of Varonis Systems in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.