Mimosa NearPoint Helps Fast-Growing Bank Improve Exchange Storage Efficiency and Reduce Management Costs by 50 Percent
SANTA CLARA, Calif. – Jan. 29, 2008 – Mimosa Systems™, a leader in live content archiving solutions, announced today that Great Florida Bank (GFB) considers NearPoint™, Mimosa Systems' advanced archiving solution, an invaluable tool for managing email records to ensure compliance. GFB can now effectively meet compliance and legal requirements and efficiently restore data following outages caused by hurricanes. In addition, the company has dramatically reduced mailbox size and reduced management costs by 50 percent.
With headquarters in Coral Gables, Florida, Great Florida Bank operates 21 Solution Centers throughout Miami-Dade and Broward Counties. Established as a commercial bank in 2004, it is one of the fastest growing de novo (newly chartered) institutions in the country. Before implementing Mimosa NearPoint™, that rapid growth was creating significant challenges related to email and information management.
The NearPoint solution was a key piece of Great Florida Bank's email archiving and compliance strategy. The bank needed a solution to effectively manage email records to ensure compliance with stringent Sarbanes-Oxley (SOX) regulations for public companies. “One of the critical challenges facing our bank was to be compliant with SOX,” said Hugo Torres, Great Florida Bank's IT Manager. “Our policy is to archive all email messages, for five years and to ensure the Bank's data and information is maintained in a secure manner.”
“Before Mimosa NearPoint, we were archiving email in local PST files,” said Torres. “When users moved from PC to PC, the PST files did not move automatically — they had to be managed manually. The result was frustrated users and lost PST files.” The Bank's exponential growth only compounded problems in the Exchange environment. “Before we began the implementation project, the old Exchange server had frequent outages due to lack of disk space. Mimosa gave us a way to seamlessly reduce mailbox contents on Exchange after deployment. The result was reduced mailbox size and improved Exchange performance.”
The Mimosa NearPoint archiving solution has rapidly delivered value to Great Florida Bank in several ways, including:
“Fast-growing organizations like Great Florida Bank need easy-to-implement, flexible, and highly efficient solutions that will help them deal with the challenges associated with information archiving, compliance and extraordinary growth ,” said T.M. Ravi, CEO of Mimosa Systems. “Mimosa is proving to be the archiving solution of choice for companies who require a centralized solution to manage eDiscovery, regulatory compliance, bus iness continuity, and optimization in a single solution.”
About Great Florida Bank
Established in June 2004, Great Florida Bank (OTC BB - GFLBA) reported total assets of $1.8 billion on September 30, 2007. The corporate headquarters is located in Coral Gables, Florida and 21 Solution Centers are located throughout Miami-Dade and Broward Counties. Great Florida Bank is committed to providing ideas and solutions to its customers' financial needs by conveniently delivering personalized state-of-the-art products and services in a relaxed environment. After two successful private stock offerings, Tier 1 capital is $167.6 million. The company surpassed $1 billion in assets after 18 months, making it one of the fastest growing de novo institutions in the country, and posted its first profitable quarter after seven quarters of operation.
About Mimosa NearPoint
Mimosa™ NearPoint™ for Microsoft® Exchange Server addresses critical customer requirements around email information archiving, eDiscovery, regulatory compliance, business continuity, and storage optimization. Mimosa NearPoint provides legal search workflow, immediate mailbox and message recovery, disaster recovery, email archiving, and self-service search and access in one solution. By leveraging cost-effective storage, NearPoint also optimizes email storage and reduces overall infrastructure costs.
About Mimosa
Mimosa Systems, Inc. delivers next-generation information management solutions for information immediacy, discovery, and continuity. Mimosa™ NearPoint™ for Microsoft® Exchange Server is the industry's most comprehensive information management software solution for Microsoft Exchange, unifying email archiving, recovery, and storage management. With options for eDiscovery and disaster recovery, NearPoint ensures litigation readiness and email continuity, while leveraging cost-effective disk technologies to optimize email storage growth. Mimosa is a Microsoft Gold Certified Partner, recognized for its competencies in Networking Infrastructure Solutions, ISV/Software Solutions, and Advanced Infrastructure Solutions. Mimosa is a privately held company whose investors include August Capital, Clearstone Venture Partners, Dot Edu Ventures, JAFCO Ventures, and Mayfield Fund. Mimosa was founded in 2003 and is based in Santa Clara, California, with offices in Germany, the United Kingdom and India. For more information, see www.MimosaSystems.com.
Mimosa, Mimosa Systems, and Mimosa NearPoint are trademarks of Mimosa Systems. All other product and company names herein may be trademarks of their registered owners.
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