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 PII to sell on the black market.

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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