Transend Business Services Deploys NeoScale CryptoStor to Secure Financial Transaction Data; Managed Service Provider Proactively Addresses Data Privacy Compliance Concerns.
MILPITAS, Calif., Aug. 16 /PRNewswire/ -- NeoScale Systems today announced that Transend Business Services, a leading managed services provider specializing in secure financial transaction systems, has selected NeoScale CryptoStor(TM) to protect client data. Transend's clients include large money center banks Money center banks
Banks that raise most of their funds from the domestic and international money markets , relying less on depositors for funds. and corporations, all of whom must protect the privacy and confidentiality of their customers' banking and business records.
Using CryptoStor, all customer data is seamlessly encrypted on Transend's NAS (1) See network access server.
(2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular and SAN storage systems without disrupting business services and without requiring complex data classification, segregation and management.
"We host and manage sophisticated applications that generate and process millions of business-to-business and business-to-consumer financial transactions per day," said Brent Luckman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Transend Business Services, based in Chicago, IL. "We chose to work with NeoScale because their CryptoStor FC storage security appliance provides an elegantly simple yet robust solution for automating the encryption of customer data at-rest at the storage infrastructure level. Other encryption solutions were overly complex, poorly automated and subject to manual operator error. We handle international transactions, so it was important that we chose a data privacy solution that could satisfy the increasing number of State, Federal, Provincial and industry-specific privacy regulations in the U.S., Canada, Europe and Asia."
The NeoScale CryptoStor Solution
CryptoStor FC is an enterprise-class network storage security appliance providing wirespeed encryption, optimized rule scalability, centralized policy and key management, storage Firewall access control, and completely seamless Fibre Channel operation for storage transport and media privacy. The solution is placed anywhere along the data path, where it intercepts communications between SAN-attached hosts and storage resources, and applies AES256 block-level data encryption and access controls -- regardless of the application or platform. CryptoStor policies are easily defined according to business application requirements.
NeoScale's appliance approach streamlines storage security functions, processing, and centralized management, thereby maintaining sensitive data protection within shared storage resources and complementing front end and perimeter defenses.
NeoScale CryptoStor demonstrates reasonable and acceptable due diligence for customers subject to the increasing number of State, Federal, Provincial, and industry-specific regulatory requirements governing privacy and data protection.
Founded in 2001, Transend Business Services Inc. is a Delaware corporation. With offices in Chicago, Los Angeles, Washington, Ottawa, and Toronto, Transend is privately-held and self-funded. Transend's major focus is On-Demand business opportunities. The managed services environments have grown from the core competency of Electronic Document Presentment and Payment services for business-to-business (which helps large to small enterprises automate spending processes) to include a storage service provision (SSP (1) (Service Switching Point) The local exchange node in an SS7 telephone network. The SSP can be part of the voice switch or in a separate computer connected to it. ), a managed security service provision (MSSP (MultiService Switching Platform) A high-end Cisco router that supports high-speed optical connections in the core of the network. See MSPP and MSTP. ), and the sale and support of award-winning and best-of-breed hardware and software solutions that are used in Transend's own managed services environments. For more information, visit http://www.transendservices.com/.
Founded in June 2000, NeoScale Systems Inc. is a leading provider of enterprise storage security solutions that provide robust data security for networked and distributed storage. NeoScale CryptoStor is a family of highly available, high performance, and scalable policy-based storage security appliances that deliver network storage and media privacy. NeoScale's solutions lower the cost of protecting accessible, distributed storage infrastructures, while also enabling greater efficiencies for the secure management of storage capacity, consolidation, continuity and compliance. NeoScale's products have been certified by leading storage vendors and have been deployed worldwide within government, financial services, managed service, and healthcare organizations. The company is backed by leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed
5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M  Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , Bay Partners and LightSpeed Venture Partners. For more information, visit http://www.neoscale.com/.
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CONTACT: David Splivalo of Dovetail dovetail
n a widened or fanned-out portion of a prepared cavity, usually established deliberately to increase the retention and resistance form. Public Relations, +1-408-395-3600, or email@example.com, for NeoScale; or John Davis of Transend Business Services, +1-847-506-7350, or firstname.lastname@example.org
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