Solix Solutions for the Financial Industry
The financial crisis of the last decade continues to loom large as tighter regulations and consumer skepticism still impact financial institutions. While the industry tries to navigate mounting regulations, it must also meet the expectations of consumers demanding an array of services at their fingertips and greater security.
Many financial institutions have adopted new business lines to remain profitable and therefore deploy multiple enterprise applications to cover their portfolio of services. A heterogeneous environment is inevitable and necessary to compete. The deployment of Business Intelligence, Data Warehouse, Operations Risk Management and Customer Relationship Management(CRM) applications equate to massive amounts of data coming from different sources.
To compete in the new world economy financial institutions must be prepared for mounting regulations with a comprehensive Information Lifecycle Management (ILM) framework while embracing new service opportunities through developing technology, such as mobile platforms. And they must do this on tighter budgets.
Data growth impacts application performance, increases costs and creates compliance concerns. With each new transaction inactive data grows putting more pressure on application performance and availability. Operations and compliance concerns may arise, and batch jobs, data replication and disaster recovery all run slower making online users wait longer. Extended outages must also be planned to convert legacy data to the new release during upgrade cycles.
Solix Database Archiving solutions for the financial industry MOVE less frequently accessed data to a separate database for end user access, and then PURGE the production database to reduce overall data volume. By reducing the size of the database application performance and availability is improved.
Older ERP systems may be candidates for Application Retirement or decommissioning. Older legacy systems are often left running well after they are removed from production service only to maintain end user access to the data. Obsolete, duplicate, and unused applications are a big drain on IT budgets, and retiring these applications can pay tremendous dividends by freeing staff, reducing license and maintenance fees, and lowering power cost.
Many data center consolidation projects are launched to rationalize application portfolios. Gartner estimates that 10% of applications running in an un-optimized portfolio are candidates for retirement and an additional one-third should be migrated or rationalized.
Test Data Management
Accurate test data improves application development quality, which is why the most demanding application development teams require that their test data be populated from production databases. As a result it is not unusual for a Test Data Management (TDM) program to maintain multiple full clones of the production database for use as test and development instances. Because so many organizations clone production data to populate their test environments, creating test data is time consuming, costly and may expose an organization to compliance issues.
Solix EDMS Test Data Management automates the creation and management of database subsets and clones based on organization-defined business rules. Solix EDMS Test Data Management creates syntactically correct subsets of production data for the most realistic testing possible. Instead of creating full-sized database clones, subsets provide accurate application testing results while saving time and reducing data storage costs up to 70%.
As a security best-practice data masking protects sensitive non production data which is often exposed in training, testing, development and offshore environments. Because it de-identifies or scrambles sensitive data with fictionalized, but syntactically correct substitute data, developers and testers maintain necessary realism and sensitive data is properly secured.
Masking sensitive test data is not a choice; it’s a compliance requirement. Solix Enterprise Standard Edition Data Masking is a free download that makes adhering to the Payment Card Industry Data Security Standard (PCI DSS).
Solix EDMS Data Masking, a key module of the Solix Enterprise Data Management Suite, combined with Solix EDMS knowledgebase….
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