Danish investment bank Saxo taps Baffle for global data encryption solution
Low-code data security firm Baffle has been tapped by Denmark’s Saxo Bank for its Data Protection Services platform, designed to protect customer data, ensure regulatory compliance and support the bank’s migration to a scalable cloud and microservices architecture.
Baffle provides data encryption solution for Saxo Bank
Saxo Bank will also be integrating Baffle’s tech into its customer-facing products.
Headquartered in Denmark, Saxo Bank is a global investment bank specialising in online trading and investment, authorised and regulated in multiple jurisdictions. Its SaxoTraderGo platform powers more than 200 banks and brokers and more than 400 financial intermediaries, processing 200 million API requests per day.
Facing the perennial threat of breaches and “significant” non-compliance fines, while also looking to ensure the high volume of data under management at the bank is available on demand to internal and external stakeholders, Saxo Bank has initiated an “event-driven” operations approach powered by Confluent Kafka on the Microsoft Azure and AWS cloud platforms.
To support this, Saxo Bank has adopted the Baffle Data Protection Services platform, which protects each of its 25 data domains using a centralised and standardised encryption.
It also offers a data mesh to publish and consume data and multiple data encryption keys to appropriately segregate and authorise different data streams.
Saxo Bank’s director of data Paul Makkar says implementing Baffle’s tech “enabled us to securely transform to a modern event-driven cloud data mesh”, which allowed the firm to “provide our internal applications a simplified, centralised way to de-identify sensitive data”.
