Financial Data Protection in Hybrid Environment

The corporate world is still debating how a post-pandemic future might function as it stands right now. Numerous businesses and workers across the globe are welcoming hybrid work models that allow workers to split their time between the home and the office. The transition to a hybrid environment will, however, make things more challenging as data is an organization's most valuable resource. Financial service providers have a larger volume of sensitive communication and data across sites. Given that hybrid working appears to stay, can detailed data and device discovery, as well as continual asset behavior monitoring across widely distant financial service estates, alleviate remote security issues in the new hybrid working world? Also, as providing a hybrid working environment is now a requirement for attracting and retaining talent, businesses must consider how to maintain the practice over time while keeping in mind the data and cyber security threats. Here’s what firms need to look out for protecting financial data while working in a hybrid setting:

 

Implementing a Cutting-Edge Security System

Data encryption must be a best practice for team members across different regions as data security issues grow among organizations that have expedited their cloud journey. It can help protect sensitive financial data and other cloud data assets from unintentional disclosure and illegal access, enabling organizations to build a security architecture that reduces various risks that could otherwise lead to a security breach. Moreover, identity verification certificates guarantee that only approved users can access a company’s computer or a worker's account. 

 

Employing Network Monitoring

When faced with the complexity and hazards stated outside of corporate premises, it becomes evident that finance IT professionals need a real-time, continuously operating, centrally managed discovery and monitoring system of devices and data. Today, proactive and predictive generic monitoring across hardware and software is needed to provide leaders with instant and actionable data so they can get the most level of control to swiftly add new devices for protection.

 

Imposing Strong Password Resets

Regular password resets add another layer of security that makes it more difficult for hackers to intercept and access employee logins. It's wise to impose routine modifications, like every 90 days. A strong password shouldn't contain any common words and should be made up of a combination of letters and symbols.

 

RSM Insights

The hybrid working model created by the pandemic brings both benefits and problems in terms of a firm's ability to handle its financial data security measures. At the same time, external hackers are aggressively seeking to exploit weaknesses and penetrate enterprise defenses for financial benefit. Thus, creating a robust security architecture that integrates people, procedures, and technology becomes essential for successfully combating financial data risks.

Feel free to consult RSM UAE to discuss your financial data protection concerns. RSM is one of the world’s leading audit, tax, and advisory service networks, recognized for innovative solutions across the globe. RSM professionals can help undertake the granular analysis of the best practices needed for financial data protection in a hybrid environment.