for the finance industry
Managing finances is important—managing your data even more
Trusted cybersecurity to help financial services prevent data breaches
Financial companies are inherently tempting. And make even more tempting bait. With intensifying digitisation, cyberattacks on banks, stock exchanges, insurance companies, and financial service providers are on the rise. According to a 2020 breach exposure report, more than 2.9 million emails and passwords of employees from Fortune 1000 companies were compromised. The need to shore up security measures hasn’t been more urgent that it is now.
IT security to safeguard financial stability
According to a report released by Verizon, hacking is still one of the primary threats to financial institutions. Hackers then go on to conduct Denial of Service attacks (DoS) to render financial services inaccessible. Struggling with creating strong passwords, even the biggest financial players continue to put themselves at risk. And while there are some institutions that are leaning towards layering up their security with multi-factor authentication, it is unfortunately still not a common practice. With an enterprise password manager like Password Secure, companies can create robust passwords coupled with multi-factor authentication to significantly increase the strength of their data security.
Secured access to data
Meeting the legal standards of the finance world means securing systems with robust passwords. Password Secure makes this easier with automation where passwords can be periodically changed to minimise cyber risks.
Accessible across devices
Password Secure can also be used from different terminals, such as the customer service department of a bank. Data can easily be accessed and managed on the go, independent of location and across devices.
Authorisations based on the minimum principle
Employees are given access rights to only the data they need to best execute tasks. For example, trainees of a bank can have access to the data they require which can be modified according to their team.
Trouble-free operations guaranteed
If there is a server failure, there is a contingency plan in place. Password Secure can work with SQL clustering to ensure that regular operations continue. With live backups, you are also able to access data offline.
Password Secure in the finance industry
The financial world is becoming increasingly globalised. More and more people are paying or transferring money digitally and managing their assets online. At the same time, the risk of cyberattacks is becoming more acute. As a result of the Corona-related lockdown, the number of cyberattacks in the financial industry increased by 238%. Optimise IT security in the finance industry now with Password Secure.
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