Smart Investments and Strong Data Security

Smart investments and strong data security are a unified march towards success, ensuring security for your business and establishing trust between the business and its customers. It’s tempting to reduce cybersecurity investment during times of economic uncertainty. However, prevention is better than cure and is more economical to prevent the occurrence of an incident than pay for cleanup and recovery.

Investment banks often have sophisticated security systems in place, which include firewalls and anti virus software. However, it is crucial to keep in mind that a successful cybersecurity plan requires much more than these tools. It also includes best practice like restricting access to sensitive data only to those who require it, encrypting and authenticating. It is also crucial that financial institutions invest in a human firewall, as almost 90% of data breaches are caused by employee error.

Investment banks can increase their data security efforts as well as stopping cyberattacks. This is achievable through using technologies such as blockchain. This technology increases security by encrypting data at stationary and while in transit, making it unreadable to non-authorized users. It also allows businesses to track their assets and secure them, enabling them to avoid the loss of data and other harmful outcomes.

Many financial institutions are still struggling with the risk of losing sensitive investor or customer data. Employees may lose sensitive information when they take their work devices away from the office, go to meetings offsite or work at home. Through the use of solutions such as DLP investment banks are able to implement their data security policies regardless of performance chart whether the device is connected to the company network, a public or home WiFi, or is not connected to the Internet at all.