Equifax which witnessed a massive data breach in 2017 had to make a $700 million global settlement with the US Federal Trade Commission and the Consumer Financial Protection Bureau to alleviate damages to the affected individuals and make organizational changes to prevent such breaches in the future.
Now the credit scoring company has announced that it will from now on rely on a data dispersal model onto three separate clouds which are said to offer data security to its consumers to the core.
As a part of its plan to modernize its worldwide technology and security infrastructure through 2020, the credit risk assessing company is all set to make a $1.25 billion investment where it is going to implement a cloud-first and cloud-native strategy to build trust among its customers.
Disclosing the same at the Gartner It Symposium Conference held this week, Daniel Dubowski said that Equifax will be using Google Cloud Platform (GCP) for its new data fabric for all its data storage and analytics needs.
Unlike the previous strategy where data was dispersed onto multiple storage blobs related to AWS, Microsoft and Google, Equifax will now shift from the broad spectrum of strategy to one that more focuses and multitude from a single vendor i.e. GCP where applications will be as close as possible to the data in addition to more controls.
The model employed by Equifax happens to be Google KMS where different encryption keys are used for different applications.
Thus, with this adoption of a full cloud strategy, Equifax aims to be data center free within 24 months.
Therefore, the financial firm seems to be aiming for more visibility to set free from any kind of data security allegations in the future.
Note- The Gartner Conference was held between October 20-24 at the Walt Disney World Swan and Dolphin Resort.