Digital is redefining the banking industry, as mobile technologies, social media, and the Internet of Things (IoT) are generating unprecedented volumes of data about customers. Financial services firms that are able to harness this data to uncover new business insights and develop the digital tools customers want—even before they know they want them—will be the winners in this new competitive landscape. [Anonymous] was an early leader in the world of data-driven decision-making, but with the advent of big data and the cloud, the speed of innovation can be accelerated. [Anonymous] is embarking on an overall technology transformation to maintain analytic leadership in the new digital era, empowering its thousands of employees with unconstrained data and processing power
To make data and processing as unconstrained as possible, [Anonymous] began adopting big data platforms like Hadoop and cloud services from Amazon Web Services. But [Anonymous] also acknowledged that data in these repositories can be unpredictable and difficult to govern. Sensitive data (e.g., PII, PHI, PCI data)—amidst volumes of other structured, unstructured, and semi-structured data—was now being stored, accessed, and shared by thousands of users, sometimes without the knowledge of IT security or governance groups. But denying access to entire data sets because they contain, or may contain, sensitive data would be counterproductive to the company’s goals. The IT security team at [Anonymous] knew additional tools were needed to ensure the usability of more data while maintaining the privacy of all sensitive data across the enterprise—on premises and in the cloud. In particular, compliance with the Payment Card Industry (PCI) Data Security Standard was mission-critical.