infoTECH Feature

November 17, 2015

Varonis Enables Regulatory Compliance for Rabobank

The international banking industry must abide by a number of regulations implemented in the wake of the financial crisis of 2007/2008. Varonis Systems is helping Rabobank, a Dutch multinational, address these new regulatory compliances with a solution that allows it to control its data access and permissions.

These kinds of partnerships are increasingly important, as regulators are levying some heavy fines. Since 2008, twenty of the world's biggest banks have paid more than $235 billion in fines and compensation for breaking financial regulations.

As a provider of software solutions for unstructured, human-generated enterprise data, Varonis specializes in making sense of the many different types of data people create. This includes enterprise spreadsheets, word processing documents, presentations, audio files, video files, emails, text messages and any other data created by employees. Whether intentional or not, these data sets can have highly sensitive information, including financial data.

Rabobank is a multinational banking and financial services company that generates massive amounts of data across different locations and devices by its employees. With DatAdvantage for Windows and DatAdvantage for SharePoint, the bank will be able to have full control of the unstructured data, including application data and departmental information. These two solutions also deliver more control as to who is accessing the information.

With presence in 70 countries, Rabobank was facing a considerable challenge in addressing the regulatory compliances in regards to access. DatAdvantage is able to identify the rightful owner of a particular data set and then control access to their information.

Varonis DatAdvantage provides bi-directional visibility into file system permissions with complete audit trail of email, permissions and file events. The platform also provides a report mechanism which meets regional compliance regulations by allowing the information to be accessed whenever there is an inspection.

"With all kinds of sensitive, unstructured data mixed up in one location, we needed to determine who initiated this data, who was responsible for this data, who was using it, and which user should and shouldn't have access," said Sebastiaan van Putten, technical engineer, Rabobank. 




Edited by Kyle Piscioniere
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