William O’Brien, COO and President
Running a business without adequate data security makes it vulnerable to crippling data breaches, especially for banking and financial institutions. As such, the institutions leveraging storage solutions, through what amounts to their privacy surrogates in a multitude of governmental regulatory agencies, as well as government users on their own behalf, are coming to dictate what constitutes acceptable standards of cyber privacy and confidentiality. Governmental regulatory cybersecurity requirements have intensified in the wake of risks introduced by internet-facing technologies, such as shared cloud storage solutions. Set against this backdrop, corporate officers need to ensure best practices for their fintech solutions and vendors of those solutions to stay abreast of an accelerating number of the new laws and fulfill regulatory demands for cyber-security.
Unfortunately, while most CIOs recognize the substantial technical and organizational complexity of achieving a secure corporate environment, they face a seemingly endless number of vendors claiming cyber-security solutions that bring in excessive costs and disruption to their organizations. Rising up to this challenge is RegDOX. As its name suggests, RegDOX is focused on the mission of enabling customers to manage and collaborate on regulated documents; those sensitive documents and information controlled by complex cybersecurity regulations.
RegDOX has found that CIOs are seeking independent verification of cybersecurity claims and the assurance that the solutions being presented are at the leading edge of technology. “CIOs understand that if they don’t comply with the regulations, they would end up with damaging data and monetary penalties. RegDOX supports such CIOs who need a sophisticated solution and consulting to protect their organization. We focus on compliance with the U.S. government’s export controls, such as the International Traffic in Arms Regulations (ITAR), along with other regulations such including those of the DoD securing controlled unclassified information from public disclosure,” says William O’Brien, President and COO, RegDOX. This goal of delivering a verifiable, leading edge and cost-effective means of handling data subject to regulatory controls has guided RegDOX to develop patented, regulatory compliant data storage and collaboration solutions. These solutions coupled with a proactive approach enable companies to deal with new cyber threats and increased governmental intervention seamlessly.
RegDOX concentrates on technological solutions that ref lect the reality of how a company can best use electronic storage and collaboration. “To fully appreciate our product, businesses have to understand the breath, scope and consequences of relevant regulations,” adds O’Brien. To satisfy these regulatory requirements, documents are stored on the server with 256-bit encryption and protected from unauthorized access, including by the IT service provider. All data transmission between the client and the server is also protected with 256-bit encryption. RegDOX uses secure links to documents that can be sent by licensed users of the technology for permitted external review.
We focus on compliance with the U.S. government’s export controls, such as the International Traffic in Arms Regulations (ITAR), along with other regulations such including those of the DoD securing controlled unclassified information from public disclosure
When a document is sent to an external user, they receive a time-limited link to the item. After the link validity has expired, externals can no longer access the document.
RegDOX’s uniqueness also extends to allowing clients to identify events for which they want immediate notification. This alerting capability allows the administrative or supervisory personnel assigned to manage a client’s RegDOX account, or any portion of it, to be notified promptly of any possible cyber-security breach so that rapid remedial action can be taken. Product usability serves as the biggest advantage of the RegDOX’s fully customizable and intuitive platform, which is further beefed up with easy-to-execute security trainings to ensure immediate compliance and enhanced security.
RegDOX’s nimble onboarding process begins with the team identifying customer requirements and educating administration on aligning the application with regulations. “We primarily serve government contractors and companies involved in the export industry. We have training programs to enable clients to identify and comply with regulations,” explains O’Brien. From focusing on existing and upcoming cyber-security regulations to being innovative to achieve patent protection to leveraging the understanding of customer needs and concerns, RegDOX covers all these aspects to provide customers with high functioning solutions for less cost than internal or external alternatives.
A few years back when RegDOX first released its now patented solution for web-based storage and collaboration of export-controlled technical data, a company of about a dozen engineers located throughout the U.S. approached RegDOX. The client company was formed to participate in a NASA-sponsored small satellite development challenge. However, they could not get off the ground unless they could convince NASA that they could receive and use ITAR technical data through an Internet-based storage and collaboration solution. RegDOX’s team of course had recognized early on that this assumed permanent exclusion of web-based storage solutions from handing ITAR technical data and had resolved to do something about it. As a result of those efforts, RegDOX launched the now patented ITAR-compliant Storage and Collaboration Solution. This solution indeed did crack the fallacy that ITAR technical data and Internet-based technology were incompatible. The end result? NASA was convinced and the virtual satellite development company was not only allowed to participate in the NASA challenge but went on to win.
In the long run, RegDOX plans to concentrate on developing in line with its core expertise to win the market. The company aims to accomplish this by adding new shared hosting platforms, providing customer dedicated instances of its solution when requested by customers, and adding to its already industry-leading suite of features and functions. “But where RegDOX has and will continue to excel is understanding for its customers what is required for regulatory compliant cloud storage and collaboration, and providing matching solutions at truly compelling price points,” concludes O’Brien.