Case Study: European Financial Services Institution achieves 393% ROI and rapid, secure software delivery with Checkmarx

European Financial Services Institution - Customer Case Study

One of Europe’s largest financial services institutions—serving ~40 million customers and subject to strict EU and local regulatory standards—faced growing security and scalability challenges as it accelerated digital transformation. Lacking automated tools for finding vulnerabilities in custom code, the bank relied on slow, manual reviews that increased compliance risk, extended development cycles, and constrained growth.

Squad implemented Checkmarx CxSAST (on‑prem) and CxCodebashing, rolling out CxSAST to ~200 tech leads and CxCodebashing to 1,000 developers with a three‑person team in two months. The deployment cut oversight headcount needs by ~80% (50 → 10), saved 104,000 developer hours (~€1.7M) annually, helped avoid ~€2M in regulatory fines, scaled projects from ~300 to thousands, and delivered a 393% ROI with payback in under five months.