Why a Global Banking Giant Chose Virtru for Easy-to-Use Email Encryption and Compliance

Building trust with your customers is important in any business, but in the financial services industry, trust is everything. 

Customers trust their banks to manage their money, their livelihoods — and they also expect that their banks will safeguard their private information. In light of these customer expectations, technology leaders at banks have their work cut out for them: Not only do they need to keep systems running smoothly, but they also need to ensure the customer experience is seamless and reinforces a relationship of trust. 

Virtru’s Matt Howard and Dana Morris sat down to discuss the story of Virtru's recent deployment of the Virtru Data Protection Gateway to support one of the world's largest banks. The conversation emphasized the significance of user experience, policy controls, and the importance of protecting high-value data. You can listen to the full conversation in Virtru’s Resource Library. 

The Bank’s Objectives: Ensure Compliance & Deliver a Better Customer Experience

When deploying encryption technology for large enterprises like banks, it’s important to balance compliance concerns and user experience. Of course, it’s absolutely essential to maintain compliance with regulations like GLBA, FINRA, SOX, PCI, and other financial services data regulations. But too many security solutions overlook the user experience — which is also vital for building trust. 

This bank chose Virtru because it's easy to use — for internal users (bank employees) and recipients (clients and customers of the bank). The bank's previous encrypted messaging solution was, in their words, "terrible" in terms of customer experience. This reached a tipping point when high-wealth clients communicated that they were going to move to another bank because it was so difficult to access their information. 

Now that the Virtru Data Protection Gateway has been deployed at the bank, the feedback from customers and internal stakeholders has been outstanding, and support ticket volume has decreased 90%. Virtru makes encryption and decryption simple and scalable enough to protect the bank's interests while ensuring minimal effort for end users. By centralizing the encryption process and implementing user-friendly interfaces, Virtru provides a seamless experience for both bank employees and external recipients.

Data-Centric Security: Encryption, Policy, and Access Control Tied to the Data

Virtru's core objective is to help enterprises protect sensitive data shared through various workflows, including email, file sharing, and SaaS applications. While encryption itself is important, Virtru goes beyond by prioritizing the elegant decryption experience for external recipients. The deployment of Virtru's technology allows the bank to apply policy and access controls, such as data revocation and preventing forwarding. These policies ensure secure data exchange and auditing capabilities, giving the bank complete control over its valuable information.

Expanding Beyond Email to Other Collaboration Channels

Although email serves as a primary collaboration workflow, Virtru recognizes that large enterprises rely on various channels for sensitive data exchange. As file sharing and SaaS applications are essential parts of an organization’s workflow, Virtru can be seamlessly applied to these channels as well. Virtru’s tools are not limited to the format of the data: Its tools are designed to protect valuable information that needs to be shared and exchanged.

Impressive Results for High-Value Customers

Virtru's technology has been implemented on a massive scale for one of the world's largest financial services enterprises. Just a few weeks into the deployment, the early results have been remarkable, with over 2 million protected emails sent and a support ticket volume of just 1,000 — a 90% decrease compared to the bank’s previous encryption solution. The low ticket volume indicates that Virtru's recipient experience is truly elegant and user-friendly, even among a diverse population with varying technical skills.

The Empirical Evidence: High Usage, Low Friction, Enterprise Scale

Virtru's success in deploying its technology to support the bank showcases its value proposition: “It does what it says on the tin.” By providing a seamless recipient experience and enabling easy policy management, Virtru stands out among competitors. The empirical evidence, such as the high usage of the product, low support ticket volume, and positive feedback from internal users and external customers, serves as proof of Virtru's ability to deliver on its promise: To protect sensitive data everywhere it travels.

Virtru has quickly become an integral part of this bank’s data sharing ecosystem, giving users a truly easy way to protect and share sensitive information with their customers.

To learn how your organization can benefit from seamless, easy-to-use data protection solutions from Virtru, contact our team today to start the conversation.