Large Financial Services Firm Gains 393% ROI with Checkmarx Application Security Testing Solutions

Independent research study shows how a Checkmarx customer recouped its AST investment in less than five months by reducing software vulnerabilities and improving developer efficiency

RAMAT GAN, Israel--(BUSINESS WIRE)--Checkmarx, the global leader in software security solutions for DevOps, today announced findings from an independent study conducted by Nucleus Research on customer return on investment (ROI). The study revealed that a large European financial services organization using Checkmarx SAST (CxSAST) and Checkmarx Codebashing (CxCodebashing) realized 393% ROI and 7 million Euro in savings over three years, with the investment paying for itself in less than five months.

According to the research, “with Checkmarx, the financial institution increased productivity, leading to increased customer satisfaction and growth in the number of new clients. As the company needed to scale up, demand increased, and Checkmarx helped them address these concerns by providing developers with the necessary tools to succeed even in a rapidly growing environment.”

The study highlights many benefits achieved by the customer in using Checkmarx solutions including:

• Reduced coding vulnerabilities: Checkmarx enabled the organization to address all software security concerns through increased visibility, reduced vulnerability, and more actionable remediation insights. Additionally, Checkmarx allowed the company to retire legacy third-party tools and libraries incorporated within its code, thereby reducing the overall risk posture of its applications and giving developers a more modern environment to work in.
• Increased developer productivity: By using CxCodebashing, Checkmarx’s AppSec awareness and training solution, to educate developers how to create more secure code, better understand security vulnerabilities and weaknesses, and proactively discover and prevent these issues, the organization saved each of its 1,000 developers two hours per week, translating to 104,000 hours and 1.7 million Euro annually.
• Increased AppSec scalability: Initially, the organization was working on 300 different projects on an ongoing basis. After deploying Checkmarx, that number is approaching thousands, with 5-10 new projects being onboarded every day. This is all achieved with the same number of developers, displaying the solution’s overall scalability.

“Our customers have long recognized the significant value and rapid payback that can be achieved by placing automated application security testing capabilities at the center of their software development efforts,” said Eric Swenson, Vice President of Product Marketing & Engagement, Checkmarx. “This report underscores Checkmarx’s value in driving faster and more efficient development of secure software, AppSec scalability, and developer confidence and productivity in creating secure code. For organizations that rely on software development, these are all valuable benefits that can deliver a stronger bottom line.”

Checkmarx, which was named a 2020 Gartner Peer Insights Customers’ Choice and a Leader in the 2020 Gartner Magic Quadrant for Application Security Testing, provides automated solutions that simplify and speed up security testing in fast-paced DevOps environments. The company’s solutions – CxSAST, CxSCA, CxIAST, and CxCodebashing – integrate seamlessly with development workflows and tools to enable developers to find and remediate vulnerabilities in both custom and open source code quickly and easily before software is released into production.

The full ROI study is available for download here.

About Checkmarx

Checkmarx is the global leader in software security solutions for modern enterprise software development. Checkmarx delivers the industry’s most comprehensive Software Security Platform that unifies with DevOps and provides static and interactive application security testing, software composition analysis, and developer AppSec awareness and training programs to reduce and remediate risk from software vulnerabilities. Checkmarx is trusted by more than 40 of the Fortune 100 companies and half of the Fortune 50, including leading organizations such as SAP, Samsung, and Salesforce.com. Learn more at www.checkmarx.com.