Swedbank Launches Enterprise Analytics Platform to Prepare for Growth by Future-proofing Data Security with Immuta

Data
22.02.2023 09:05 am

Swedbank, one of the largest banking groups in Sweden serving more than 8 million customers, has become 100% data access compliant and has improved efficiency across the group five times over since upgrading their legacy data access. The new Enterprise Analytics Platform allows comprehensive, end-to-end data security across the organisation thanks to data security platform Immuta.

In a recent IDC InfoBrief, one of the highest priorities for European C-Suite executives is to become a data-driven “intelligent organisation.” As many as 90% of those surveyed in the InfoBrief said they consider it crucial to have a digital-first strategy to achieve business values from their data. As part of its digital transformation journey, Swedbank has been working with Immuta to migrate their Enterprise Analytics Platform to the cloud, enabling it to adapt to new business requirements and build data analytics to drive its machine learning models.

The aim of Swedbank’s Enterprise Analytics Platform is to enhance value for its customers by unifying data sources into a single data lake, migrate analytical capabilities to the cloud, uncover deeper insights at scale, and improve time-to-market of data use cases. The bank’s legacy on-premise solution was approaching end of life, and maintenance costs of their existing solution for data security and access control were rising to unsustainable levels. They needed a cloud-based data platform that supported deep learning, artificial intelligence, secure data sharing, and fast analytics as well as robust data security to go with it.

Using Immuta and Databricks with Azure, Swedbank made a full migration of all critical data analytics workloads to a secure cloud environment in less than a year. In that same time period, they also implemented Immuta, which provided a unified data security solution capable of data discovery, auto-classification, authentication, auditing, user and tag syncing, and enterprise support for both role- and attribute-based access control. This integration met future requirements for scale and unified data governance.

Vineeth Menon, Head of Data Lake Engineering at Swedbank commented, “We needed to build a solution that would enforce trust in our security, management and access to data internally, whilst protecting our customers assets and data. We knew we needed to change our culture, processes and platforms to create resilience for the future.

“Our aim was to create more intelligent access control with greater efficiency. This was only possible through an advanced implementation of access control, which facilitates a higher degree of automation and transparency.

“Trust is now built into processes, data users have a purpose, and access is both need-based and secure. The cloud migration process was a huge transformation that now allows data science and analytics teams to access the data they need when they need it.”

Immuta enables Swedbank’s data engineering team to run data models compliantly and securely on Databricks while consistently enforcing all purpose-driven access and usage. This model moves far beyond traditional role-based access control, enabling a whole new paradigm of trust across every data-driven team in the organisation.

Colin Mitchell, VP of EMEA and APAC Sales added “With the help of Immuta and Databricks, Swedbank's Enterprise Analytics Platform unlocked an attribute- and purpose-based access control model. This capability has already delivered a number of significant benefits. For example, the unified data lake that enables better access to all data across Swedbank's Enterprise Analytics Platform’s various functional areas. The implementation has improved the platform’s analytical capabilities and reduced time-to-market for new products and services.”