OVERVIEW

Based in New York, People’s Financial Bank (PFB) has been serving the needs of its customers for over 40 years. With a large portfolio of clients and personalized services, the bank has always been highly focused on customer privacy and protecting their sensitive information. Its ever growing customer base has seen a steady increase in younger customers including Gen Y and Millennials. PFB has also recently shifted all work to a core banking software system - while productivity is high, there are some major hindrances that need to be fixed.

CHALLENGE

Mobility

Due to its high data security and privacy, PFB owns three data centers across the country on which it hosts all customer data. This data is not available outside the servers and users need to either login from within the enterprise to access it or login through a VPN.

The bank employs a large salesforce that works in the field. None of the employees in the direct sales groups (includings key revenue generators in Mortgages and Mutual Funds) are able to access documents when visiting clients or having meetings outside the bank.

Both these groups work outside the office over 80% of their time and face a huge burden of having to delay the process of getting the customer to review and sign key financial contracts when not in the office. As a result, the bank sees an overall delay of 40-60% in customer contract signups.

CONTACT US:

+1 (647) 925-31638 King Street East, Suite 1905 Toronto, ON M5C 1B5

www.genialcloud.com

HYBRID CLOUD BOOSTS PRODUCTIVITY WHILE

KEEPING PRIVACY INTACT

How Genialcloud Freedoc can help a bank empower its field staff with secure access to their documents and enabling its various branches to securely share information internally and with external parties.

This use case illustrates a typical scenario for our solution. Some names may be fictitious in order to be used in this context.

Document Management

Internal documents are fragmented and are not stored in a central location. Every branch maintains its own document share and is unable to view anything else, even if permissions were granted.

To deal with this fragmentation and having all information essentially siloed between every branch without a single solution to manage a document repository, employees turn to home-grown or consumer-grade document sharing applications to share information.

One of the biggest threats to privacy/security industries today, consumer document sharing applications have been blamed for many hacks into banks and financial institutions over the past few years. Concerned about this threat, PFB struggles to find a balance between high-level security against cybercriminals and increasing efficiency in its business.

The bank needs a solution that won’t force it to relinquish control over its data while maintaining the high level of security on all customer information, for which it is well known.

SOLUTION

PFB uses a hybrid cloud approach to deploy Freedoc - an Enterprise Document Management solution through Solgeniakhela’s Genialcloud framework.

Mobile Secure Document Management with Hybrid Cloud

Freedoc is made available to bank employees through a dedicated enterprise catalog that can be accessed securely anywhere, anytime - using SSL, VPN and a dedicated username and password that ensures 100% traceability.

Freedoc on Genialcloud connects to PFB’s core banking software as well as the backend SQL and Oracle databases. This results in a secure hybrid cloud environment where data still resides on PFB’s servers while the solution that is used to access the data does not.

Document Sharing Within the Bank

Sharing of information between branches is as quick and simple as a mouse click and the familiar Windows interface provides ease of use for mature users while encouraging collaboration for all tiers of employees.

Users have access to an Enterprise File Sync & Share platform that works on a hybrid cloud, protects data integrity and is highly secure.

The bank can enforce a strict no-consumer-grade applications policy that essentially bans all file sharing, EFSS (Enterprise File Sync & Share) and document sharing applications that are typically used by consumers.

CONTACT US:

+1 (647) 925-31638 King Street East, Suite 1905 Toronto, ON M5C 1B5

www.genialcloud.com

This use case illustrates a typical scenario for our solution. Some names may be fictitious in order to be used in this context.

GENIALCLOUD FREEDOC HELPS BY

Allowing PFB to retain 100% ownership of data, which never has to leave its own data centers.

Providing control for each user profile and the types of documents each user group has access to.

Creating a detailed audit trail along with notifications per document or folder as needed.

Providing PFB’s field staff with secure access to all the documents they need to complete their sales through their tablets and smart phones, while completely maintaining the integrity of banking information.

Enabling the various branches of the bank to create public and private repositories that could be shared within the branch or with people outside.