Working with many international Financial institutions and assisting them to secure their data, we understand your need to protect your company’s highly sensitive and valuable information. Cybersecurity for Financial institutions is critical and requires security to be robust and agile to meet the dynamic market changes as well as evolving regulatory compliance requirements.
You require solutions to secure data both at rest or in transit and that are flexible, transparent to applications and able to accommodate the complex financial systems.
Secure Financial Data
The data security compliance and regulation challenges alone are daunting for banking and financial services firms. At its core, compliance demands encryption within this sector, especially PCI DSS requirements for credit card related information, but more worryingly over 100 countries and independent jurisdictions and territories around the world have now adopted comprehensive data protection/privacy laws to protect personal data held by private bodies, especially the banking and financial service sector.
The laws in these countries apply to personal information held in both electronic and physical form and to nearly all subject areas. Most countries have created an independent data protection or information commission to oversee and enforce the laws. Most have also included specific reference to the national right to information laws. One such regulation is the European General Data Protection Regulation (GDPR). If an institution operates in one or more countries or have clients domiciled in other locations they then need to ensure cross border compliance to remain ‘fine and reputational damage’ free.
To protect their reputation, banking and financial service organisations and their executives must safeguard critical financial data from exposure wherever it resides in the cloud, a data centre, on a PC or mobile device.
As financial services’ online infrastructures evolve and increase in numbers, procedures need to be in place to not only protect the data, but to also identify and alert the organisation of unauthorised access, or inappropriate handling of data by employees or third parties.
At Digital Pathways we have a range of solutions that can provide you with controls to data without breaking any of your organisation’s processes or introducing complex technical procedures that may hamper your service delivery.
If you are looking for a solution provider to give you sound advice call us to see how we may help.
Our experience demonstrates that linking encryption with access control enables our clients in this sector to control where data is stored, how it should be handled and allows tracking and marking so data can be easily classified and alerted on should a user take inappropriate actions on data such as copying, reading or deleting it.