Successfully balancing today's risk management, cost reduction and compliance equation can be a difficult feat – especially when dealing with multiple regulatory requirements across the globe
SAN JOSE, Calif. (PRWEB) October 28, 2008
"Successfully balancing today's risk management, cost reduction and compliance equation can be a difficult feat – especially when dealing with multiple regulatory requirements across the globe," said Oliver Eckel, head of corporate security, bwin Interactive Entertainment AG. "By tapping Agiliance software to automate risk management and compliance processes, bwin is able to improve security and reduce costs while achieving and maintaining compliance with multiple regulations."
Like all businesses in highly regulated and competitive markets, bwin International must adhere to stringent regulatory guidance. Because bwin processes millions of transactions per day, the company is required to comply with the PCI Data Security standard to help prevent credit card fraud, hacking and other security issues. With the release of a new PCI standard in September, the topic of PCI continues to make headlines as companies that fail to comply with PCI face potential fines from credit card associations.
Agiliance helped bwin jump start their PCI program by providing automated policy management, risk assessments, and control evidence gathering – allowing bwin to streamline their risk and compliance processes and lower costs by up to 50%. bwin turned to Agiliance because the product met key criteria which included easy integration with bwin's existing security solutions. Thanks to the pre-defined mapping of multiple regulations within the Agiliance product, bwin was able to extend the same automated, risk-based approach for compliance to other regulations including the European version of Sarbanes Oxley and European privacy requirements to protect confidential customer information.
"As demands to control the cost increase and regulators become even more aggressive, companies around the globe must find ways to address multi-national compliance requirements in a cost effective and efficient manner," said Patrick J. Conte, CEO, Agiliance. "bwin is a great example of a world class company that is automating risk and compliance processes in order to dramatically reduce their IT spend today – while insuring to reap the dividends of a proactive risk management strategy tomorrow."
Agiliance offers highly-automated IT risk and compliance management software solutions designed to help organizations thrive in the face of mounting pressures to manage and balance risk, compliance and IT budgets. By leveraging the power of Agiliance software, Fortune 1000 businesses in the financial, healthcare, energy, government and technology are making impressive gains in their IT risk and compliance efforts - including reduced audit burden, increased visibility into current compliance and risk status, and improved leverage of IT resources. Agiliance is headquartered in San Jose, California and is backed by Walden International, Intel Capital, SVIC, Red Rock Ventures and Castile Ventures. For more information, please visit http://www.agiliance.com.