Cipherpoint Announces New Major European Customer
The Company announces a new major banking customer today with an initial agreement for its cp.Protect product
SYDNEY, June 16, 2020 (Newswire.com) - Cipherpoint announces a new European banking customer.
The Company announces a new major customer today with an initial agreement for its cp.Protect product to the value of €70,000 (A$116,000) with the Bank of Finland. This represents a significant milestone since establishing its office in Heilbronn, Germany, in November 2019.
cp.Protect has been deployed by this major European bank to enable secure segregation of highly sensitive business data within the organisation’s unstructured data repositories. cp.Protect will enhance their controls over privileged users (such as IT admins) who would otherwise have access to such data without the cost and overhead associated with establishing a separate data store. It will also reduce the cost of complying with the customer’s GDPR obligations.
Speaking about the recent customer acquisition, Steven Bliim, Chief Operating Officer, said, “I am pleased to announce this important milestone. The strategy underpinning our recent shift to Europe has been to demonstrate to enterprises that by deploying our technology, they can continue to make the most of their on-premise collaboration platforms while setting an excellent foundation to shift their most sensitive business data to the cloud (if they choose to do so) while retaining full control over the encryption keys securing that information.”
Source: Cipherpoint Limited (ASX:CPT)
