Financial institutions realize their lack of data security after a breach occurred, ending up with heavy costs, huge consequences and loss of customers/loyalty, making recovery a challenge beyond growth.
Financial institutions are a target of many security breaches, as they hold and share sensitive and private data such as financial statements, banking reports, customer investments and saving, and more within their ongoing business activities with partners, customers, ad hoc prospects, state or federal institutions, etc.
Unfortunately, currently used tools do not appropriately secure data access, nor the exchange of such sensitive data, placing financial organizations and customer details at the utmost peril.
Financial and investment firms currently exchange data using email with ongoing customer correspondence and file transfer platforms such as S/FTP to share important documents. Both of these options may be popular, easy to use and are widely available yet are extremely prone to frequent breaches and may be easily accessed, placing your customer’s data at risk. Furthermore, increasing regulations demand stricter means to deal with such sensitive data, requiring appropriate solutions for highly secured data exchange.
Such security is a must for every financial and investment institution to avoid the high possibility of data breach.
The benefits of data security for financial organizations:
- Supports all customer types: ad hoc or registered
- Reduced development costs and resources: no need to develop security layers into financial applications (e.g. mobile)
- End-to-end governance: all shared documentation is constantly monitored using a built-in workflow engine
- Regulatory compliant: HIPAA, PCI-DSS, FISMA, and GLBA
- Add security layers easily and quickly: existing file transfer and upload processes may be expanded, leveraging existing security infrastructure
- Keep working regularly: employees may work normally, not requiring to change daily or activities
- Ease of use: simple end-user credential management and reduced operational cost and complexity
Highly Secured Data Exchange and Data Access Solutions from Safe-T:
- The financial organization is secured by the Safe-T Secured Data Exchange (SDE) broker for in-and-out data exchange.
- Data access is secured into financial applications, protecting data and preventing criminal application access with Safe-T Secure Data Access (SDA) solution.