Spectrum Federal Credit Union Implements NeoScale Encryption Solution

Case Study: Spectrum Federal Credit Union, revised in 2007
Spectrum Federal Credit Union Implements NeoScale
Encryption Solution to Protect Their Critical Backup Tapes Application Secure Data Protection "It was so easy to work with the NeoScale system because it runs Overview efficiently in the background. It really is the easiest and most Chartered in 1973, San Francisco-based Spectrum Federal Credit Union serves over cost-effective way to encrypt our 12,000 members. These members include more than 50 Select Employee Groups backup tapes." (SEG), including the well-known brokerage firm of Charles Schwab and the world's largest construction company, Bechtel. When the issue arose on how to protect their - Cheryl Johnson, DP Manager, members' personal data residing on backup tapes, Spectrum FCU took no chances - Spectrum Federal Credit Union they and their Techical Advisory Board made the decision to encrypt this important information with the help of NeoScale Systems, an undisputed leader in this emerging market. Benefits ƒ Protect customers' personal data residing The Challenge on backup tapes Being true to Spectrum FCU's mission statement "to ensure members' trust by providing excellent financial products and services," it made perfect sense that they ƒ Enforce audit and regulatory compliance would insist on encrypting any sensitive stored data leaving their facilities. Unencrypted data moving between credit union branches ran some level of risk: a tape could go ƒ Integrate seamlessly astray due to some courier's lackadaisical attitude, administrative incompetence, or with core processing outright theft. The results would be disastrous. Inevitably, the credit union would face a system public relations nightmare, or worse, serious litigations.
ƒ Encrypt at wire-speed Located in California, Spectrum FCU faced another regulatory hurdle - California with virtually no latency Senate Bill 1386 designed to protect consumers' personal information. Under this law, delays Spectrum FCU must publicly notify customers when data had been lost. Even if Spectrum was not located in one of the "lost data disclosure" states, all federally ƒ Easy to install, maintain insured credit unions must disclose breaches to their members, thanks to Appendix B and administer of the NCUA Rules & Regs Part 748. Even if they were not federally insured, disclosure would be the right thing to do and would most likely be mandated in all fifty states by an act of Congress in the near future. The Solution The $120M asset credit union installed a NeoScale CryptoStor Tape appliance between their in-house UltraData core system and their IBM external tape drive. The system integrated seamlessly, and was managed via NeoScale's intuitive Web-based interface. Copyright ©2002-2007 by NeoScale Systems, Inc. Milpitas, CA, USA. All rights reserved. 1 Case Study: Spectrum Federal Credit Union, revised in 2007
The Result With the NeoScale hardware encryption appliance in place, the Spectrum FCU had no worries about their tapes as they moved across the country - if one were to go missing, they would not be required to notify customers because all of the state and federal regulations specifically exempt encrypted lost data from consumer notification requirements. As for the bonus, NeoScale's purpose-built appliance handled Spectrum FCU encryption process at wire-speed with no performance bottlenecks.
NeoScale At A Glance ƒ Founded in 2000, NeoScale is the trusted leader in enterprise storage security and a recognized authority in Global Key Management ƒ Headquartered in the Silicon Valley, CA, NeoScale solutions are globally deployed in more than 35 countries ƒ Tamper proof appliance-based solutions with true wire-speed encryption of data on disk, virtual tape, or tape media ƒ Award-winning global key management to ensure customers' business continuity and productivity in sharing sensitive information across the extended enterprise ƒ Successfully driving partnerships with vendors of encryption devices and software applications that are deployed throughout the enterprise IT infrastructure, from mainframes to open systems. ƒ Nearly 300 customers worldwide, including a fifth of the Global 50 companies, Fortune 500 financial institutions, healthcare organizations, domestic and foreign government agencies, as well as small-medium ... [download for more]