IdentityMind migrates SaaS platform to Oracle Cloud Infrastructure


Regulatory technology (RegTech) company IdentityMind recently migrated its software as a service (SaaS)-based trusted digital identity platform to Oracle Cloud Infrastructure.
 
The company evaluated several infrastructure providers—including Amazon Web Services (AWS), Rackspace, and IBM—before choosing Oracle Cloud Infrastructure for its unmatched technical support services, tight security, and highly competitive and predictable pricing, company officials said.
 
IdentityMind also chose Oracle because of its unique ability to secure the SaaS platform before, during, and after the migration with cloud-based and fully managed Web Application Firewall (WAF), DDoS Protection, and API Protection from the Oracle Web Application Security suite.
 
IdentityMind adds that Oracle Cloud Infrastructure makes it much easier for the RegTech company to support its explosive growth, onboard enterprise customers, and manage seasonal spikes in demand.
 
"We migrated to Oracle Cloud Infrastructure so that we could support our growth demands and our clients' need for an enterprise-grade solution that meets high availability, scalability, and performance requirements,” said Kieran Sherlock, chief technology officer at IdentityMind. "Oracle Cloud Infrastructure's high performance and elastic scaling enables us to quickly and cost effectively expand our transaction processing capabilities as we continue to add new clients, features, and services."
 

Who is IdentityMind?

The Palo Alto, Calif.-based IdentityMind—which lives by the motto, "Digital Identities You Can Trust"—offers a SaaS platform for online risk management and compliance automation. IdentityMind helps companies reduce client onboarding fraud and transaction fraud and improve anti-money laundering (AML) and know your customer (KYC) compliance.
 
IdentityMind uses eDNA™ technology to continuously build, validate, and assign risk scores to digital identities to ensure global business safety and compliance during customer onboarding and throughout the customer lifecycle. The company securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods) to build payment reputations. This allows companies to identify and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering.
 
IdentityMind, which was founded in 2013, had been running its Version 2.0 platform in its own data centers. But as the company grew, it began to face scalability challenges. Specifically, the process of onboarding new customers—especially large customers— became too time consuming and inefficient.
 
“Before we chose Oracle, we weren't happy with provisioning times. It was simply taking too much time to provision new servers and deploy new services and features," said Rodrigo Balan, IdentityMind's director of IT operations. "It was the combination of these requirements that prompted us to migrate to Oracle Cloud Infrastructure.”
 
Before moving to Oracle, it would take Balan's team up to 90 days to onboard large enterprise customers. Oracle Cloud Infrastructure cut that time down to less than a week.
 

Why Oracle Cloud Infrastructure?

IdentityMind chose Oracle for its security, support for regulatory compliance efforts, and predictable pricing. Technical support was another key strength. The assistance of Oracle's support team was invaluable when IdentityMind migrated its Version 2.0 platform to Oracle Cloud Infrastructure, Balan said.
 
When questions or the need for support arises, most cloud providers point clients directly to their internal support team. If that doesn’t work, clients are directed to premium thirdparty partners, and that can get expensive, Balan said. With Oracle, however, it's a different story.
 
"Working with Oracle, we have access to the support team, but we also have access to product managers, people who run the storage servers, and people who run the compute system," Balan said. "We show them what's going on in our environment, and it's a lot easier to get things resolved. That's a really big win for us."
 

A more secure platform

Another challenge that arose when IdentityMind managed its SaaS platform on-premises centered on security. Balan's team wanted to do a better job of protecting its network edge while also gaining greater visibility into the types of cyberthreats targeting IdentityMind's internet-facing SaaS platform. Those threats include DDoS attacks, malicious bots, and other potential dangers found on the OWASP top ten list of web application security threats. The company also wanted to ensure that the application programming interfaces (APIs) it depends on were protected from API attacks.
 
“Clients rely on our continuous uptime, reliability, and data security to keep their businesses running smoothly. We have to be predictable and up and running 24x7x365,” Balan said. “We take security and the privacy of our clients’ data very seriously. We need to make sure that we have all the protections necessary to minimize risks for the company and our clients."
 
After evaluating cloud-based web application security suites from Imperva and Cloudflare, IdentityMind decided to go with the Oracle Web Application Security suite.
 
"We chose the Oracle Web Application Security because of its integration with Oracle Cloud Infrastructure," Balan said. "We also like the flexibility of the Oracle Web Application Security team and their willingness to make changes to the platform to accommodate features that we need."
 
For example, IdentityMind asked Oracle to add an automated 429 response code that would be sent to customers whenever they exceed limits for uploading data to the SaaS platform. Oracle engineers added the feature right away.
 
“We want to reduce our attack surface and better understand attack vectors,” Balan said. “It’s all about protecting our clients’ data and peace of mind and continuing to build a more resilient platform.
 
 
 

"We migrated to Oracle Cloud Infrastructure so that we could support our growth demands and our clients' need for an enterprisegrade solution that meets high availability, scalability, and performance requirements. Oracle Cloud Infrastructure's high performance and elastic scaling enables us to quickly and cost effectively expand our transaction processing capabilities as we continue to add new clients, features, and services."

-Kieran Sherlock, Chief Technology Officer, IdentityMind
 

WHY ORACLE?

  • Maintains 99.5% SLA availability for IdentityMind's mission-critical SaaS-based trusted digital identity platform
  • Quality and responsiveness of technical support
  • Predictable and competitive pricing
  • Strength of the Oracle Web Application Security suite
  • Met compliance needs

PROFILE

  • Regulatory Technology (RegTech)
  • North America and worldwide
×
Call us now
1-800-633-0738 (United States)

Contact
×
Call us now
1-800-633-0738 (United States)

Technical Support

Oracle Cloud Discussion Forums