Banks, brokerage firms, insurance companies and other financial institutions manage large volumes of confidential information over their corporate networks each and every day. Bank account information, social security numbers, credit card information and other confidential data is stored, accessed and distributed during the normal course of business. Many of these organizations are regulated by federal and state laws. As a result these organizations have been early adopters of information security approaches and technologies. To date, the Financial Services industry has focused most of its electronic security efforts on protecting its network perimeter from outside threats – essentially building “walls and moats” to keep intruders from gaining access to the organization’s corporate assets. While effective IT perimeter security is essential to any Financial Services infrastructure, it is a serious mistake to consider that measure alone to be sufficient protection. In fact, the most serious data loss threat to a Financial Services enterprise comes from the very people working there. Why? Once inside a company, there are few if any obstacles to removing confidential data from a network. Failure to protect against inadvertent or malicious data loss can compromise regulatory compliance, competitiveness, customer trust, and company brand and reputation.
Many Financial Services organizations share another burden - message supervision and compliance. These organizations must review and audit electronic actions to ensure that there have been no violations related to solicitations, information boundaries, insider trading, and fair and balanced communication. This comprehensive or random supervision of electronic communication required by directive from the SEC and other regulatory bodies typically places a huge burden on Financial Services organizations.
The Orchestria Solution for Financial Services protects and controls information wherever it is stored or used, significantly minimizing the risks associated with uncontrolled information. Orchestria protects sensitive Financial Services IP, employee and customer data at the endpoint, message server, network and for data at rest. In addition Orchestria automates and streamlines the review, supervision and audit of electronic actions within the Financial Services enterprise. Orchestria helps Financial Services organizations prevent data loss, ensure messaging compliance and enforce information classification and control.
Orchestria enables Financial Services companies to:
- Secure intellectual property (new financial products, customer lists)
- Protect confidential customer data and PII (SS/NI #’s, credit card information, bank account information)
- Control sensitive employee information (SS/NI #’s, personal health, salary information)
- Automate the supervision of electronic communication and messaging
- Ensure compliance with HIPAA, GLBA, SOX, S-P, SEC
- Protect and control information shared with partners (agents, brokers)
- Classify information assets for records management and retention
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