DTCC Reduces Password Reset Calls To The IT Help Desks
CHALLENGE The organization needed to reduce costs and improve efficiency and security for internal and external customers
SOLUTION Bravura Security offered a complete Self Service Password Management solution, thorough knowledge, and an excellent proof of concept.
OUTCOME DTCC reduced password reset calls to their internal and external IT help desks by 25%.
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At its core, the Depository Trust & Clearing Corporation (DTCC) is a data processing business that safely transfers securities ownership and settles trillions of dollars in trade obligations, under tight deadlines every day.
Through its subsidiaries, DTCC provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and OTC derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC’s depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$33.9 trillion. In 2019, DTCC settled nearly US$2 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas.
DTCC helps automate, centralize, standardize and streamline processes that are critical to the safety and soundness of the capital markets. As a result, DTCC has helped customers increase operational efficiency, reduce risk and lower cost.
The Challenge
DTCC is always looking for ways to streamline customer service, both internal and external. With this in mind, DTCC deployed software to automate password management processes.
“Our main drivers are typically cost, efficiency and security,” says Adam Bryan, Managing Director, DTCC. “As an industry utility that operates with an at-cost business model, we are constantly seeking new efficiencies on all levels that will drive down cost for our users while enhancing the level of security required for an organization that plays such a critical role in the financial marketplace.”
Prior to this project, DTCC experienced a high volume of password management calls to the IT help desk from more than 3,800 internal and 80,000 external customer users. DTCC considered a number of solutions based on market research into available technologies. The market research incorporated analyst research, vendor presentations, a detailed RFP and a proof of concept installation process. This exhaustive process resulted in the selection of Bravura Security to provide an effective solution.
“Bravura Security offered a complete solution and thorough knowledge of the technology we needed,” says Bryan. “They implemented an excellent proof of concept and were able to address our questions no matter how esoteric.”
“Since deploying Bravura Pass, DTCC has seen a reduction of over 25% in password reset calls to their internal and external IT help desks.” - Adam Bryan, Managing Director, DTCC
The Solution
DTCC first deployed Bravura Pass to their internal user population over a period of six months during 2008. To educate employees and make it easier for them to access the password manager from their workstation login screens, DTCC relied on an email marketing campaign. The result was a one-hundred per cent adoption rate by the end of the six month deployment.
Having realized great success with internal deployment, DTCC then embarked on an external rollout plan at the beginning of 2009. Their approach was to begin with an email campaign to all known users with email addresses. DTCC then enlisted its IT Help desk to actively register customers as they called in for password assistance. Registration for thousands more users continued throughout 2010.
Bravura Pass was deployed with integrated Active Directory, LDAP, RACF, TAM and Lotus Notes systems. Internal users are able to synch their LAN passwords with their TAM and Lotus Notes logins. Both internal and external users are able to utilize Password Manager to reset passwords or unlock all mainframe accounts. Since deploying Password Manager, DTCC saw a reduction of over twenty-five per cent in password reset calls to their internal and external IT help desks. This enabled DTCC to reassign four of 12 support staff to other, more productive, customer service functions.
Outcome
“We are very proud of the adoption rate we’ve achieved internally with the project,” says Bryan. “We achieved one-hundred per cent user adoption within six months.”
High user adoption was supported from the project’s inception by a strong commitment from DTCC senior management. Early in the deployment, registration was carried out with each member of senior management so they were all on board before the general roll-out. The roll-out process was accompanied by extensive internal communication to all staff explaining the process and highlighting the benefits.
DTCC then leveraged Customer Support staff to register people on Bravura Pass. At the end of the first six month roll-out period, the help desk stopped doing password resets by phone; Customer Support would register the individual instead, thereby ensuring participation. End users accepted the process as a positive step and no complaints were registered throughout the process.
Externally, DTCC continued to roll out Bravura Pass to a much larger user population, distributed among many customers. In the first year, DTCC achieved 12 percent adoption by external users—a metric that continues to grow as work proceeds to enroll these users. It is extremely challenging to enroll external users due to the larger number of over 80,000 active ID’s.
DTCC’s proactive approach had the IT help desk registering customers as they contacted them for login assistance. If a customer was registered already, the help desk agent educated them on how to reset and unlock their account using Bravura Pass. If the customer was not yet registered, the agent walked them through registering while on the phone.
Additionally, they send out quarterly emails marketing the benefits of Bravura Pass that contain registration instructions to those customers who have not yet registered. This two-pronged approach allows them to register the frequent and infrequent users of their systems. Finally, during 2010, DTCC introduced a password reset fee for participants as a way to incentivize them to register for Bravura Pass to reset their passwords on their own.
“We achieved 100% user adoption within 6 months.” - Adam Bryan, Managing Director, DTCC
About DTCC
DTCC, through its subsidiaries, advances industry-leading solutions that help secure and shape the future growth and development of the global financial marketplace.
Today, they stand at the center of global trading activity, processing trillions of dollars of securities transactions on a daily basis.
DTCC operates in a highly dynamic and evolving marketplace. To keep pace with the demands of the industry and their clients, DTCC's dedicated employees work in a highly collaborative environment, as they consistently develop solutions to mitigate risk, create efficiencies and reduce costs.
They deliver resiliency, value and expertise for their clients. They were built in partnership with the industry to provide stability and efficiency in the global capital markets. With a focus on exceptional service, they promise to advance solutions and next-level innovation.
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