Lumigent Technologies, Inc., a provider of information management solutions, announced that XL Capital Ltd. has selected Lumigent Audit DB to manage the auditing of sensitive financial data for Sarbanes-Oxley compliance purposes. With more than $54 billion in consolidated assets, XL Capital is a leading provider of insurance, reinsurance and financial products and services to enterprises worldwide. The company recently deployed Lumigent Audit DB to automate the continuous monitoring of its global business-critical application data hosted in five sites in the U.S., England and Switzerland. Such on-demand reporting enables internal auditors and IT operations management to understand all aspects of the Company data's use and access, at any point in time.
"To comply with Sarbanes-Oxley regulations, our auditors required that we monitor each and every data change, including those done by privileged users," said Dean Kelly, senior vice president, applications support services & IT procurement, at XL Capital. "The ability to view activity directly at the transaction logs - where data is actually stored - is an essential technical feature that enables us to fulfill such a requirement. Additionally, Lumigent Audit DB helps us efficiently develop reports that can be made easily accessible to our auditors to demonstrate compliance."
Lumigent Audit DB provides continuous monitoring of data access and modifications for more than 400 organizations worldwide. The product enables companies to know who did what to which data, when and how, and provides a complete record of data access available by working directly from the database source. It automatically tracks database structure changes, permission changes and viewing activities, then consolidates them into a central repository for easy access and efficient reporting. The ability to autogenerate reports often results in significant time savings compared with traditional approaches such as application modification or trigger-based collection at the database source. Additionally, unlike such techniques, Lumigent Audit DB ensures segregation of duties, meaning that the audit trail cannot be altered by IT managers who administer the product.
By implementing Lumigent Audit DB, XL Capital can monitor data changes done by both unauthorized and privileged users. The product efficiently captures this information and generates reports that are directly delivered to the Company's auditors. In all, using Lumigent Audit DB enabled XL Capital to develop a streamlined auditing process involving automated monitoring capabilities, easy access to data modifications at any point in time, and autogenerated reporting.
Lumigent Audit DB monitors data for all applications hosted by XL Capital's twelve Microsoft SQL Server databases. The audited, business-critical applications are hosted in New York, Connecticut and California as well as the U.K. and Switzerland.
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