Velocity

Excel EUCA Risk Mitigation

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Data at Rest = Data at Risk

In an increasingly data-driven world where critical decisions are made using data as the driving factor, financial institutions know that they need a complete data management strategy encompassing data security, data governance, and compliance risk.

End User Computing Applications (EUCA) are a fundamental threat to the risk ecosystems in financial institutions today

Mitigating and eliminating Excel EUCA risk requires more than file-control-based technologies.  It is not enough to control and monitor access to files.  “Data at rest” on the desktop is the real culprit and must be eradicated to deal with EUCA risk.

Boardwalktech’s Velocity is THE plug and play, low-code platform specifically designed to mitigate Excel risk in the enterprise.  

Eliminate the Data at Rest on the Desktop

Stop the emailing, the cutting and pasting, the inadvertent errors, and the ones with nefarious intent.  This is a major source of risk. But how?  

Many low code providers would suggest re-writing the EUCAs – eliminate Excel altogether! But imagine having 20,000 Excel-based EUCA's that need to be re-written on a new platform. With integration, unraveling macro code, database design, UI development deployment, and testing.  

It will take a lot of people a very long time. And not without a significant negative impact on the user.  Not only will it change the way they work, but they will also have to spend time in requirements analysis meetings redesigning, rescoping the applications while losing the flexibility of any future change management.  And many of these tools are workflow tools that orchestrate files and handoffs and do little to address the data at rest issue.  

With Boardwalktech Velocity there is a Better Way

While preserving Excel’s powerful features, Velocity eliminates the risk associated with Excel using our “Excel Browser” technology that dynamically downloads access-controlled data upon authentication and wipes the data clean from Excel memory upon closing the file. This ensures zero footprint on the desktop, thus creating a “single version of the truth” for your that is securely fastened to our patented digital ledger data store.

Velocity seamlessly and dynamically absorbs the EUCA data and formulae from your Excel EUCAs into our digital ledger, without the need to write a single line of code! The results are secure, compliant applications – data managed and under software development lifecycle control (SDLC). Excel now operates just like a browser with the data managed on the server.

Gain Unparalleled Governance and Data Visibility

Once transformed with Velocity, not only has EUCA risk been mitigated, but you now have visibility into the DATA from these former EUCAs.  

Velocity gives you the ability to govern, monitor and audit all changes in real time - which is only possible because of automatic, no-code data and workflow auditability through our patented Boardwalk Digital Ledger.  

Search across data sets for data governance violations, set rules and alerts, and run analytics – all against data that was previously locked away in files and emails.

Meet the Users Where They Work!

Think of the people and process investment that you have in the thousands of EUCAs running in our institution today, business process expertise, intellectual property, and tribal knowledge. Preserve and secure your innovation, and your business IP investment with Velocity while giving your employees what they NEED!  

When Velocity is employed, Excel now becomes a user-downloadable, controlled, role-based application that acts no differently than a web browser. That means the users keep the familiar Excel user experience while the institution gains compliance and data governance. 

Velocity, by specializing in Excel-based EUCAs, will have a broad and cost-effective impact on your governance and agility needs.
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Features

Rapidly Transform Excel End User Computing Applications (EUCA) into Technology Managed Applications

Velocity is able to “absorb” EUCA files and Excel models without data modeling or programming. This both preserves the flexibility of the application and speeds the EUCA transformation deployment process. Users can then access the transformed digital app through an Excel browser that preserves the existing process models and intellectual property.

Upon transformation with Velocity, Excel now becomes a user-downloadable, controlled, role-based application that acts no differently than a web browser. It is enhanced with Excel’s powerful application features available in the browser when in use. Upon close, the file is deleted, and the data is wiped clean on the desktop with it. No saving, no copy-paste, no sharing the data. The “single version of the truth” for the data is kept securely on the Boardwalk Digital Ledger server.

The Complete Solution

Rapidly Transform EUCA's in 1-3 Weeks

Velocity data management layer is a software abstraction that captures EUCA data at the model (Excel), and element, or cell level and stores it in a specially designed digital datastore. This "digital ledger" stores and versions all changes made with a transaction ID and timestamp.

This provides granular, powerful verification and audit capabilities out-of-the-box, well exceeding what’s available in today’s file-level controls frameworks.

And with Velocity and its enterprise integration capabilities, most EUCAs can be transformed in 1– 3 weeks into a technology solution depending on the level of complexity.
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Data Governance and Analytics with Velocity!

Once transformed, the Boardwalk Digital Ledger platform is now capturing data that was previously inaccessible from the files and emails where it is typically housed; and this provides a new data source for data governance and analytics.

  • Processes can be monitored and tracked real-time to ensure security and compliance and can be audited and monitored by accessing the Boardwalk Digital Ledger data for that application.
  • Analytics can also be run across the data from multiple Boardwalk Digital Apps to identify non-compliant personally identifiable information (PII) or other types of data risk.
  • Boardwalk dashboards can be set up to monitor the risk and control the operations of the digital apps, or Boardwalk’s data can be accessed through APIs.
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