Kiteworks Solutions for the Financial Services Industry
Protect Private File and
Email Data Communications
In the fast-paced and heavily regulated landscape of financial services, professionals face complex challenges that intertwine the intricacies of sensitive content communication, compliance, and privacy. Regulations such as FINRA, GLBA, GDPR, and PCI DSS exert substantial pressure on these organizations. They need to maintain stringent security protocols, uphold client confidentiality, and ensure seamless operations, all while adhering to these regulatory mandates. The task is akin to navigating a labyrinth where the walls are perpetually moving, and the path is fraught with potential pitfalls
Enter the Kiteworks Private Content Network. Touting certifications that include FedRAMP Moderate, SOC 2, ISO 27001, 27017, and 27018, among others, Kiteworks modernizes email and file data communications with a hardened virtual appliance that includes multiple layers of security and advanced and integrated security capabilities, digital rights management (DRM) governance for comprehensive tracking, and controls based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF). This enables financial services firms to demonstrate compliance with a long list of data privacy regulations. Kiteworks’ core capabilities include secure email, file sharing, managed file transfer, and secure web forms, each designed to meet and exceed compliance standards.
Secure Client Communication
Financial advisors need to securely communicate with clients to share sensitive financial information. Traditional email can be insecure and lead to data breaches. Kiteworks provides secure email communication, ensuring that sensitive financial information is encrypted and only accessible to the intended recipient.
Secure File Sharing for Audits
During audits, financial institutions need to share large volumes of sensitive data with auditors. Insecure file sharing can lead to data breaches. Kiteworks provides a secure file sharing platform that allows financial institutions to share large volumes of data securely with auditors, ensuring data integrity and confidentiality.
Managed File Transfer for Transaction Data
Financial institutions often need to transfer large volumes of transaction data between systems. Insecure file transfers can lead to data breaches. Kiteworks provides a managed file transfer solution that enables financial institutions to securely transfer large volumes of transaction data, ensuring data integrity and confidentiality.
Secure Web Forms for Client Onboarding
Financial institutions often need to collect sensitive information from clients during the onboarding process. Insecure data collection can lead to data breaches. Kiteworks provides a secure platform for creating and managing client onboarding web forms, ensuring that the information collected is secure and only accessible to authorized personnel.
Secure Email for Client Statements
Financial institutions need to securely send client statements via email. Traditional email can be insecure and lead to data breaches. Kiteworks provides secure email communication, ensuring that client statements are encrypted and only accessible to the intended recipient.
Secure File Sharing for Mergers and Acquisitions
During mergers and acquisitions, financial institutions need to share large volumes of sensitive data. Insecure file sharing can lead to data breaches. Kiteworks provides a secure file sharing platform that allows financial institutions to share large volumes of data securely during mergers and acquisitions, ensuring data integrity and confidentiality.
Managed File Transfer for Regulatory Reporting
Financial institutions often need to transfer large volumes of data for regulatory reporting. Insecure file transfers can lead to data breaches. Kiteworks provides a managed file transfer solution that enables financial institutions to securely transfer large volumes of data for regulatory reporting, ensuring data integrity and confidentiality.
Secure Web Forms for Loan Applications
Financial institutions often need to collect sensitive information from clients during the loan application process. Insecure data collection can lead to data breaches. Kiteworks provides a secure platform for creating and managing loan application web forms, ensuring that the information collected is secure and only accessible to authorized personnel.
Secure Email for Transaction Confirmations
Financial institutions need to securely send transaction confirmations via email. Traditional email can be insecure and lead to data breaches. Kiteworks provides secure email communication, ensuring that transaction confirmations are encrypted and only accessible to the intended recipient.
Secure File Sharing for Investment Analysis
Investment analysts often need to share sensitive investment data with clients. Insecure file sharing can lead to data breaches. Kiteworks provides a secure file sharing platform that allows investment analysts to share sensitive investment data securely with clients, ensuring data integrity and confidentiality
Managed File Transfer for Portfolio Data
Financial institutions often need to transfer large volumes of portfolio data between systems. Insecure file transfers can lead to data breaches. Kiteworks provides a managed file transfer solution that enables financial institutions to securely transfer large volumes of portfolio data, ensuring data integrity and confidentiality.
Secure Web Forms for Account Opening
Financial institutions often need to collect sensitive information from clients during the account opening process. Insecure data collection can lead to data breaches. Kiteworks provides a secure platform for creating and managing account opening web forms, ensuring that the information collected is secure and only accessible to authorized personnel.
Secure Email for Fraud Alerts
Financial institutions need to securely send fraud alerts to customers. Traditional email can be insecure and lead to data breaches. Kiteworks provides secure email communication, ensuring that fraud alerts are encrypted and only accessible to the intended recipient.
Secure File Sharing for Financial Planning
Financial planners often need to share sensitive financial planning documents with clients. Insecure file sharing can lead to data breaches. Kiteworks provides a secure file sharing platform that allows financial planners to share sensitive financial planning documents securely with clients, ensuring data integrity and confidentiality.
Managed File Transfer for Market Data
Financial institutions often need to transfer large volumes of market data between systems. Insecure file transfers can lead to data breaches. Kiteworks provides a managed file transfer solution that enables financial institutions to securely transfer large volumes of market data, ensuring data integrity and confidentiality.
Secure File Sharing for Legal Documents
Legal departments in financial institutions often need to share sensitive legal documents, such as contracts or compliance reports, with internal and external stakeholders. Insecure file sharing can lead to data breaches and noncompliance with regulations. Kiteworks provides a secure file sharing platform that allows legal departments to share sensitive legal documents securely with stakeholders. It ensures data integrity, confidentiality, and compliance with financial regulations. Features like encryption, access controls, and audit logs protect against unauthorized access or data breaches.
Frequently Asked Questions
When selecting a secure file sharing solution for financial services firms, there are several features to consider. Look for a solution that offers data loss prevention, encryption in transit and at rest, access control and activity logging, visibility into user activities (e.g., who sent what to whom and when), and an ability to integrate with other security solutions like data loss prevention (DLP), advanced threat protection (ATP), and content disarm and reconstruction (CDR) for a comprehensive security approach.
Financial services organizations must comply with several regulatory requirements, including the Gramm-Leach-Bliley Act (GLBA), which requires institutions to protect the privacy and security of customer financial information.
The best file sharing solution for GLBA (Gramm-Leach-Bliley Act) compliance is one that is cloud-based, encrypted, and adheres to industry standards for security and privacy. The best file sharing solution should also provide features such as user access control, encryption, activity monitoring, and audit logs. Additionally, it should allow for easy data recovery and backup. Ultimately, the best file sharing for GLBA compliance should provide the highest level of data protection, privacy, and security.
The Payment Card Industry Data Security Standard (PCI DSS) applies to all businesses that store, process, or transmit credit card holder data. This includes all organizations, merchants, and service providers that handle credit and debit card payments.
While FINRA does not explicitly require file sharing to be compliant, financial services firms must ensure that any file sharing they do is in compliance with all applicable FINRA rules and regulations. FINRA Rule 4511, for example, requires broker-dealers to “make and preserve books and records in conformity with applicable laws, rules, regulations and statements of policy.” This means that financial services firms must ensure that their file sharing practices comply with all relevant regulations, including those set by FINRA.
The Kiteworks private content network is designed to help businesses unify, track, control, and protect their most sensitive data. Kiteworks helps financial firms meet compliance requirements, including those set by regulations like FINRA, GLBA, GDPR, and PCI DSS. The platform offers granular access controls, audit logs, and other security features that help firms comply with these regulations.
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