Top US Bank Selects Archive360

Archive360, LLC announced that one of the nation’s largest banks is implementing its Unified Data Governance Platform in a move to decommission legacy systems, mitigate risk, centralize the management of data resources and save nearly $40 million.

The sweeping project involves migrating up to 2PB of legacy application data to the A360 platform in just the first 3 years. The scale of the undertaking is intended to ensure superior records management and compliance, faster access to relevant data, and complete control over all types of data.

“Every major organization is hampered by the technical debt associated with hundreds of legacy applications. The best of them, like this institution, make bold moves to ensure that compliant capture, management and access to data within those systems is a fundamental requirement of their application decommissioning plan,” said Robert DeSteno, co-founder and CEO. “It’s our mission to help leaders in heavily regulated industries achieve significant cost savings while negotiating complex issues around data retention requirements, operational resilience tied to emerging mandates, and the evolving cybersecurity environment. We are honored that an organization of this stature has selected Archive360 as the foundation for this critical initiative, and we believe our technology and services will play a key role in driving this transformation.“

It’s company’s mission to help heavily regulated industries achieve significant cost savings while negotiating complex issues around data retention requirements, operational resilience tied to emerging mandates, and the evolving cybersecurity environment.

Business Challenges:
Thanks in part to robust growth, the bank has faced challenges related to operational shifts, changing business requirements and cloud migration. For these and other reasons, it has opted to sunset nearly 100 applications annually, many of which were affected by record retention mandates. Even though it has a company-wide record governance program, responsibility for implementing record management policies is assigned to the owner of each business application. As a result, legacy systems with data subject to retention requirements were kept running in the background for the duration of the requirement (up to 7 years).

The key problems included unnecessary legacy application expenditures; excessive storage and processing costs; slower search and reporting performance; greater risk of sensitive data modification, deletion or exposure; and the rising cost of data discovery. As the need for a centralized data governance solution became clear, the company developed a business case to meet this goal.

This search led to the firm’s platform. The technology reduces the traditional reliance on data creators, shifts the dynamic from app- to data-centric management and fundamentally enables data management based on its value and risk.

By implementing the Archive360 Unified Data Governance Platform, the bank will:

• Know exactly what data resides in its business apps and file shares, and how it should be managed
• Enhance data management by centralizing and automating data governance throughout the enterprise
• Ensure that records are consistently and compliantly managed (classified, secured, accessed, retained, legally held, disposed, reported) across all business applications and file shares
• Slash legacy application licensing, administrative and maintenance costs
• Save active application storage and processing costs by moving inactive data from tier-1 production environment to less costly cloud archives
• Retain complete control over all types of data (storage, processing speed/ costs, encryption keys, security protocols)
• Provide new data sources for analytics, ML and AI; and
• Accelerate cloud adoption by leveraging Archive360’s cloud expertise.

Case study: Top US Bank Forecasts Nearly $40 Million in Savings After Implementing Unified Data Governance Strategy