The Client

A Financial Firm

The client is a New York City-based, independent Money Service Business (MSB) with clients located throughout the country and in several international locations.

The Challenge

Cybersecurity Threats in the Financial Sector

As with many organizations in the financial sector, the firm faces an increasing pressure to ensure the safety and privacy of their client data. They needed to solve how to efficiently maintain a high level of cybersecurity while continuing their high level of dedication to clients’ needs.

The Strategy

Overcoming Cybersecurity in the Cloud

Hosting their systems on an outdated local server was compromising the security of the financial firm’s client data. They wanted to get their cybersecurity up to standard while decreasing the need to dedicate attention towards cyber threats and the ever-changing compliance requirements for financial technology.

Planning the Next Steps
The firm consulted with White Wings Technologies and chose to pursue a gradual migration of technology to the cloud. Cloud providers would be selected based on fulfilling both technical and functionality needs of the firm.

Automating System Updates
Using cloud services means the provider will keep their system up-to-date and secure. This essentially shifts the ownership of compliance from the firm to those providers and allows them to focus their time elsewhere.

The Solution

Migrating from an In-House Solution to the Cloud

  1. The first step was to migrate all core investment applications. This included moving the firm’s hosted platform solution that housed the core wealth management and accounting functionalities needed for their business.
  2. Once the core migration was complete, all common desktop productivity and messaging followed. This shift was made by moving to Microsoft Office 365 and Azure which offers extensive options for hosting, making it ideal for the firm’s needs.
  3. White Wings Technologies helped the financial firm mitigate the risk of migration by providing a proof of concept of the Microsoft platform. This allowed the firm to test functionality and determine the most appropriate set of solutions.

The Results

Highly Available Systems and a Secure Infrastructure

The firm now relies on its hosting providers to maintain the security and availability of the technology infrastructure. This has resulted in the following:
Secured Computing Environment
The firm’s new cloud solutions help to keep their client data more secure and up to date.
Predictable Technology Budget.
The financial firm no longer must worry about sporadic fees for system maintenance and business technology updates.

Highly Available Systems

The firm’s systems and client data are now all securely stored and run from the cloud, accessible from anywhere.
The increased functionality and reduced management overhead of the technology allows the advisory firm to concentrate more closely on their clients’ financial wellbeing.