RFA (Richard Fleischman & Associates) has teamed up with Varonis to provide a data governance solution-as-a-service for the alternative asset sector. The service is subscription based, with monthly costs depending on the number of users, and is available across the US and UK.
The data governance service is a response to customer requests and has been designed to provide enterprise functionality at an appropriate price for alternative asset managers. Grigoriy Milis, chief technology officer at RFA, explains: “Data governance is a hot topic in the alternative asset industry, but best-of-breed solutions designed for enterprise use are cost prohibitive and difficult to manage and maintain for smaller hedge funds. We decided to look for a best-of-breed partner and create a multi-tenanted solution. We looked at a number of products and evaluated their capabilities and ability to be multi-tenanted before selecting Varonis.”
RFA hosts the database and reporting components of the Varonis software on its cloud platform and deploys an agent in the user’s file storage. The agent monitors and logs data access activity, which is aggregated on the cloud, and the service generates real-time alerts of unauthorised data access as defined by permissions and criteria set by the user. The service also provides regular access reports.
The data governance solution has been operational for a few weeks and Milis says he has received over 20 enquiries and expects early implementations soon. The solution is RFA’s second security service released this year, following the introduction of RFA Virtual Chief Information Security Officer (CISO), a partner-based service dedicated to cyber security. These services will be marketed not only in RFA’s traditional US markets, but also in the EMEA region, where RFA set up headquarters in London last year. This year, the company plans to expand into Asia, with an office that will offer cloud services including the data governance solution.