Guest post by By Mackenzie Kosut, Global Startup Evangelist at AWS and Siddharth Bajaj, Vice President of Data and Enterprise Engineering at Roostify
Earlier this year, several large financial institutions, including Wells Fargo, Capital One, and the Department of Housing and Urban Development, revealed they had been hit by massive data breaches. These hacks exposed sensitive data about borrowers’ financial information and the leaks contained tens of millions of documents extending ten years back.
This is a stark reminder of the potential damage facing financial institutions that place their trust in third party service providers and one that we face head on with confidence.
To explore the topic of security synergy, digital lending platform Roostify is hosting a collaborative webinar and panel discussion on September 18th, 2019. While the priority of keeping loan information secure will be front and center, the webinar will discuss the state of the U.S. housing industry, how cloud and platform services are transforming mortgage, keeping data secure, and the resulting customer and lender benefits.
The following panel discussion will feature industry leaders Sam Khater, Chief Economist at Freddie Mac, and Amy Bonitatibus, Managing Director, Chief Marketing and Communications Officer, Home Lending at JPMorgan Chase, as they chat about how market conditions and collaboration in the mortgage ecosystem is impacting the digital transformation of consumer lending.
The panel will also feature AWS Global Startup Evangelist Mackenzie Kosut, who will explain how AWS provides the ultimate in digital loan security. Kosut will also explain the value of a cloud platform: accessibility, scalability, security, control and cost savings.
In the past, Siddharth Bajaj, the vice president of data and enterprise engineering at Roostify, has spoken about how the security services provided by AWS integrate into the Roostify digital lending platform. AWS offers security and other risk-management tools on a select basis, meaning Roosity can build and reinforce its infrastructure using the applications it needs and is are suitable for the company.
For example, Roostify uses Amazon GuardDuty, a threat detection service that continuously monitors for malicious activity and unauthorized behavior, as well as Amazon Macie, which is a security service that uses machine learning to automatically discover, classify, and protect sensitive data.
Roostify also uses the AWS CloudTrail service that enables governance, compliance, operational auditing, and risk auditing. With CloudTrail, you can log audit trail related to actions across your AWS infrastructure. This is an important enabler for Roostify’s continuous security and compliance monitoring across its production infrastructure.
And finally, Roostify employs the Amazon Virtual Private Cloud, which gives us complete control over your virtual networking environment, including selection of your own IP address range, creation of subnets, and configuration of route tables and network gateways. You can use both IPv4 and IPv6 in your VPC for secure and easy access to resources and applications.
“We are a B2B2C mortgage platform and one thing that differentiates us is, from Day One, we are hosted in the cloud,” Bajaj explains. “Part of the reason we use AWS is today’s customers are very demanding, and being a startup, we need to leverage security resources so we can focus on building and maintaining our digital lending applications.”
The partnership with AWS frees up Bajaj and his team to focus on innovation and benefits from efficiencies as the AWS cloud is scalable, “This allows us to improve our infrastructure while also being agile as we grow to meet our customer’s specific needs,” Bajaj said. “Security is an important criteria for us, so one of the things we need to be certain is that the right tools are in place to ensure security of all the digital mortgage data in our platform. AWS is the type of technology that gives us that multi-layered security.”
from AWS Startups Blog