BECU Relies on Axway to Secure Financial Transactions with Trading Partners

PHOENIX - July 27, 2010 - Axway, the Business Interaction Networks company, announced today that BECU (Boeing Employees’ Credit Union) is relying on Axway SecureTransport™ to simply and securely manage financial exchanges.  Axway SecureTransport is a secure, multi-protocol solution that provides BECU with full visibility into transactions with its trading partners while reducing the strain on BECU’s IT department.

BECU, the largest credit union in Washington state and one of the top five financial cooperatives in the United States, has been serving its members for almost 75 years with current membership of over 650,000.  As a credit union, BECU focuses on improving the economic and social well-being of its members.  As such, the IT department is always looking to implement solutions that improve efficiencies and provide superior value to its membership.

“With increasingly complex financial transfers, it’s imperative that financial institutions find a way to ensure that all monetary exchanges are done in a secure and timely manner,” said Susan Feinberg, senior research director at TowerGroup, a leading financial services industry analyst firm.  “Having visibility into secure financial transactions helps financial institutions not only ensure the safety of their transfers, but helps increase customer satisfaction.”

After finding its existing packaged managed file transfer (MFT) solution to be complex and inflexible, BECU decided it needed to replace the system.  Previously spending too much time and money customizing their platform, BECU chose to implement Axway SecureTransport based on its ease-of-use and manageability.

“AT BECU, we want our members to think of us as a trusted partner in their financial endeavors.  However, in order to be successful ourselves, we need to make sure we are securely automating, managing and auditing all of our financial transfers,” said Kyle Welsh, vice president of technology services, BECU.  “With Axway SecureTransport, we found a product that is easy for our employees to use, yet provided the security we needed while growing with us as a company.”

Financial organizations of all sizes rely on Axway SecureTransport to move billions of dollars of financial transactions daily.  SecureTransport is used by eight out of the top 10 U.S. banks to serve its customers, as well as ensuring compliance with Payment Card Industry (PCI) data security standards.

“The requirements of today’s financial institutions are constantly changing but security is always a top priority,” said Joe Fisher, EVP, worldwide marketing, Axway.  “Data breaches erode customer confidence – something that goes counter to a credit union’s organizational mission.  Axway SecureTransport helps BECU focus on initiatives that drive member satisfaction rather than worrying about MFT performance.”

Axway SecureTransport enables companies to simplify and secure file transfers over the Internet with real-time visibility into the data exchange.  SecureTransport is based on open standards and can be easily integrated into a company’s existing IT investments. Secure Transport is also part of Axway’s class leading MFT offering, which also includes solutions for internal file based integration, secure ad hoc file transfer and visibility. With SecureTransport, financial institutions can easily demonstrate compliance with government regulations and protect against legal liability.

For more information on Axway SecureTransport, visit www.axway.com/products-solutions/mft/gateways/securetransport.

Related link: Axway Positioned in the "Leaders" Quadrant of the Magic Quadrant for Managed File Transfer

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About Axway
Axway is the Business Interaction Networks company — the only provider in the market today to manage, run, secure, and monitor all of your business interactions, including email, files, messaging, services, events, and processes. Serving over 11,000 organizations in more than 100 countries, Axway facilitates the multi-enterprise transactions, processes and integration that accelerate business by eliminating the barriers between vendors, customers, departments, partners and suppliers. Axway's comprehensive offerings include business-to-business integration, managed file transfer, secure email, business activity monitoring, enterprise application integration, service-oriented architecture, business process management, track & trace and identity validation solutions. Axway provides professional and managed services, as well as cloud computing and Software-as-a-Service (SaaS) offerings. Headquartered in Phoenix, Arizona, Axway's global presence spans 20 countries.

About BECU
Boeing Employee’ Credit Union is a nonprofit financial institute located in Tukwila, Washington. BECU offers members a range of financial services, including checking and savings, loans and visa, home loans, investments, insurance and small business services. With more than 650,000 members and more than $8.6 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. BECU currently has over 40 locations in the Puget Sound region. The credit union is a nonprofit cooperative and its earnings are returned to the members in the form of better interest rates and lower fees for services. Eligible members must live, work, worship or attend school in a Washington state school district. Small business owners can also join if their small business is located in Washington. BECU also accepts members from outside of Washington if the individual is a past or present employee of the Boeing Company, a Boeing subsidiary or affiliate, BECL or The Museum of Flight.