Challenges

    Financial organizations manage the flow of money and personal details of businesses and individuals across the globe and rely on email as a primary mode of communication. To serve their customers and to work with their ecosystem of business partners, financial services companies need to transmit and store a lot of very sensitive content. As a result, cyber-criminals frequency launch sophisticated cyberattacks against them with the intention to disrupt day-to-day business operations and/or steal valuable Personally Identifiable Information (PII) to sell on the black market.

    For financial organizations, trust and brand reputation are huge in earning new and maintaining existing customers, so it’s critical to keep customer data and money safe.

    Given all of this, it is no surprise that the financial industry is so highly regulated. Archiving plays a big role in maintaining regulatory compliance as banks are required to prove to auditors that data is replicated, stored in a tamper-evident database and accessible over extended periods of time. Data retention policies and easy, reliable e-discovery access are necessary to maintain business integrity. Protecting their reputation, complying with industry data protection regulations and minimizing fines associated with lawsuits and compliance violations are top-of-mind for financial institutions.

    Expert Insight.

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