NextLabs announces successful Go-Live with Fiserv to secure digital transformation
SAN MATEO, Calif. (PRWEB) July 19, 2023 -- NextLabs today announces the successful go-live of its Zero Trust Data Security Suite with Fiserv, a global leader in financial services technology. NextLabs’ solution will allow Fiserv to safeguard the confidentiality and integrity of its customer and financial data through a comprehensive data-centric security framework. The solution enables dynamic data-level security controls such as encryption, decryption, masking, and filtering, to strengthen Fiserv’s cybersecurity for its digital transformation initiative.
NextLabs Zero Trust Data Security suite protects critical data and controls access to applications with real-time enforcement. The suite automatically protects data at rest using encryption, secures data access by segregating and obfuscating sensitive information, and enforces least privilege access to protect business-critical customer data. Powered by dynamic authorization technology and attribute-based policy platform, the suite ensures that data access to sensitive financial data is controlled at the database level using format preserving encryption (FPE), while masking data at the user interface (UI) level for users who are not authorized to view data. The suite provides the infrastructure to automate and strike the needed balance between giving stakeholders access to critical data, while protecting said information and maintaining compliance with necessary regulations.
“We were able to implement NextLabs Data-Centric Security Suite for SAP S4/HANA in our organization within a 4-month aggressive timeline,” stated Rajan Odayar, Head of Global Fintech, Analytics & Digital Transformation of Fiserv. “NextLabs did an amazing job working together with our SAP S4/HANA Fintech team, their team members were responsive, knowledgeable, went beyond the call of duty to get things done, while achieving all of our project goals.”
Fiserv has deployed NextLabs’ solution globally, unifying their global ERP application under a single global S/4HANA instance powered by NextLabs Zero Trust Data Security suite, ensuring sensitive information is protected throughout its lifecycle. The solution will address the following key business requirements:
- Enable a global ERP strategy
- Enhance data compliance and data governance practice without compromising user experience
- Implement preventive data security controls across heterogenous applications and systems to prevent unauthorized access and leakage of sensitive financial data
- Adapt to new business requirements quickly, simplify change and escalation management, and ensure compliance with new regulatory requirements
- Data is protected at-rest and in use to prevent any unauthorized or accidental direct access, only authorized users can access the sensitive data regardless of the channel of access
- Solution that is easy to manage and can be deployed quickly without custom code
Due to the increasing number of virtual global workforces and higher cybersecurity mandates, companies face the challenge of collaboration and sharing sensitive information securely while maintaining agility and control cost. Flexible and scalable data security solutions are essential to adapt to changing requirements while maintaining security in a dynamic digital environment. By implementing a preventive cybersecurity framework based on zero-trust and data-centric principles, Fiserv will now be able to:
- Automate and simplify security management to protect critical data
- Segregate sensitive data in single global instance
- Ability to rapidly adding new data security controls via centrally managed policy to address new cybersecurity and compliance requirements
- Centrally log all data access and usage activities for audit and compliance reporting
- Modernize IT and accelerate business process unification without compromising security coverage and total cost of ownership.
“NextLabs is proud to partner with Fiserv to provide the dynamic data protection solution for its ERP transformation initiative,” said Keng Lim, Founder and CEO of NextLabs. “NextLabs is known for its highest performing zero-trust policy engine in the industry - we are committed to continue delivering best-in-class zero trust data security solutions to protect applications and data anywhere and everywhere.”
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NextLabs®, Inc. provides zero trust data-centric security software to protect business critical data and applications. Our patented dynamic authorization technology and industry leading attribute-based zero trust policy platform helps enterprises identify and protect sensitive data, monitor and control access to the data, and prevent regulatory violations – whether in the cloud or on premises. The software automates enforcement of security controls and compliance policies to enable secure information sharing across the extended enterprise. NextLabs has some of the largest global enterprises as customers and has strategic relationships with industry leaders such as SAP, Siemens, Microsoft, AWS, Accenture, Deloitte, Infosys, and IBM. For more information on NextLabs, please visit http://www.nextlabs.com.
Zola Lamprecht, NextLabs, https://www.nextlabs.com/, 1 (650) 577-9101, [email protected]
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