As financial service organizations accelerate their digital transformation, data security breaches are more common than ever and more expensive. Global studies show that the average total cost of a data breach is now USD3.8 million.
In the highly regulated financial services industry, data management is more essential than ever
The Financial Services Sector (FSS) continues to operate in a challenging environment with ongoing regulatory scrutiny. In parallel, there is continuing disruption and change driven by emerging technology, new entrants, remote working and changing customer behaviours.
Financial Services and Unstructured Data
Typically the FSS has a much higher risk profile when it comes to unstructured data. Organisations that handle financial information are working under more complex regulations and facing more significant external threats that are ever more difficult to manage. Simultaneously, they are still having to adapt business models to manage technological disruption in the market whilst also building customer trust and engaging with the broader community.
Regulatory pressures continue to be central to FSS activities, including relationships with customers and suppliers. Many regulatory mandates, including GDPR and CCPA, put emphasis on how FSS collect, process and store customer information. A specific pain point for FSS is the retention of this data and both the opportunities and risks it presents.
Adopting a proactive, holistic approach to protecting sensitive data across all types of platforms
Accelerate digital transformation into the cloud with integration to Microsoft AIP and other DLP platforms
Lowering the total cost of ownership by automatically discovering risks to sensitive data
Easily adapting to changes in the IT landscape and support the full data protection journey
Business-critical data and intellectual property held in CAD tools and document management systems need a data-centric security approach to be effective
Supports compliance with SOX, Data Protection Act 1998, PCI-DSS, ISO27001, Basel II/III, Financial Conduct Authority (FCA)
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