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Modern Data Security and Management for the Financial Services Industry

In today’s digitally connected world, the financial services industry has experienced a monumental shift towards datadriven practices. The extensive use of technology and data has significantly enhanced the efficiency of financial services, enabled better customer experiences, and streamlined operations. However, this reliance on data comes with an inherent responsibility to safeguard it from threats and vulnerabilities. Financial institutions face unique challenges when it comes to data security and management. The sheer volume of data they handle, coupled with the continuous evolution of cyber threats, demands a robust and adaptive security infrastructure. Moreover, the integration of various technologies, like mobile banking, cloud computing, and Internet of Things (IoT) devices, introduces new attack vectors that require constant monitoring and mitigation. Some major challenges faced by financial enterprises are:

  • Data Volume and Complexity: Financial institutions handle massive data volumes, including transaction records, customer information, and market data. Managing and securing this diverse and complex data is a significant challenge.
  • Regulatory Compliance: The financial sector is subject to numerous regulations, including GDPR, CCPA, and industry-specific standards like PCI DSS. Compliance with these regulations is nonnegotiable and requires stringent data protection measures.
  • Cybersecurity Threats: Financial organizations are prime targets for cyberattacks, including ransomware and data breaches. Protecting against these threats while ensuring business continuity is a top priority.
  • Data Accessibility and Performance: Quick and secure access to financial data is crucial for decision-making and customer service. Ensuring high performance and availability is paramount.

Key Benefits

  • Enhanced cyber resilience
  • Simplified management of financial data with a single UI
  • Significant cost savings
  • Faster recovery times
  • Streamlined regulatory compliance requirements
  • Seamless data consolidation on a single web-scale platform post merger and acquisition

Who We Work With

  • Retail and commercial banks
  • Investment banks and brokerages
  • Capital markets and exchanges
  • Home, property and casualty, auto, and life and annuities insurers
  • Business and professional insurers
  • Payment processors and FinTechs

“The total Cohesity experience—security options, SaaS model and support—has been just what we’d hoped for. If we went back in time, we’d make the same decision. ” 

—Mike Viola, Principal Technologist, Nasdaq

Enhancing cyber resilience for financial services

Modern data security and management empowers financial IT teams to enhance data resiliency, so they can successfully collect, aggregate, and analyze data to deliver exceptional customer experiences while keeping data safe and streamlining compliance. Many financial services companies are modernizing legacy IT infrastructure, including multi-point backup and recovery products. A few factors are driving this change: the status quo is complex, expensive to manage, and fails to deliver the security these customers require. What’s more, systems often take too long to recover after an incident, adversely impacting the customer experience and operational efficiencies. 

Cohesity enhances an organization’s data resilience by converging backup, recovery, replication, and disaster recovery on a single, hyperconverged, cloud-native platform. With a unified, scale-out solution, Cohesity eliminates legacy data protection silos and simplifies management with a single user interface and policy-based automation. Meet your SLAs with sub-5 minute RPOs and instant mass restore to any point in time. Additionally, Cohesity supports leading application and infrastructure vendors. 

Enhancing cyber resilience for financial services

Modernize backup and recovery for data resilience

Cohesity offers a unified data security and management platform that accelerates and simplifies backup and recovery of financial enterprise workload across on-premises and cloud with a secured unified platform for data resilience.

  • Data Classification: Cohesity’s highly accurate MLbased data classification engine classifies sensitive data automatically or on-demand, including personal identifiable information (PII).
  • Data Consolidation: Cohesity’s platform consolidates data from various sources, including core banking systems, trading platforms, and customer databases, into a single, easily accessible repository.

Stay compliant

Cohesity helps your financial services organizations maintain operational efficiency as you address ever-changing government and industry requirements.

  • Data Governance: Address stringent requirements from PCI and Gramm-Leach-Bliley to GDPR with comprehensive data governance features, including data classification and automated data retention policies. Help ensure compliance with industry-specific regulations.
  • Audit Logs: Couple policy-based automation with API integration to achieve long-term retention requirements and speed audits.
  • Easy to Consolidate: Consolidate data and apps, postmerger or acquisition, from many organizations onto one web-scale platform.
  •  Data Insights: Powerful search and analytics capabilities enable rapid data discovery, helping financial professionals make informed decisions and identify potential risks

Improve response and recovery for cyber resilience

Protect and recover against ransomware with threat protection, cyber vaulting, and ML-powered data classification—by identifying threats, assessing attack impact, and confidently recovering critical data. 

Cohesity provides robust data protection mechanisms to safeguard critical financial data via:

  • Continuous Data Protection (CDP): Real-time data replication ensures minimal data loss during unexpected events.
  • AI-powered Ransomware Detection: Cohesity’s solution includes built-in ransomware detection capabilities that immediately analyze data ingested from production environments on every backup for telltale signs of unusual activity or data changes, like those related to ransomware attacks.
  • Immutable Backups: Immutable backups prevent unauthorized changes or deletions of data, ensuring data integrity and compliance.
  • Rapid Recovery: Cohesity provides instant and predictable recovery at scale by providing organizations immediate access to critical business processes and data to meet their demanding recovery time objectives (RTOs).

Reduce the risk of data compromise

Enhance your data security against sophisticated ransomware attacks with Cohesity FortKnox, a SaaS cyber vaulting and recovery solution. Get an additional layer of managed security and protection against cybersecurity threats, simplify operations, lower costs, and recover confidently from attacks

  • Role-Based Access Control: Safeguard data with multilayered Cohesity Threat Defense Architecture—with immutability, WORM, access control, quorum, Cohesitymanaged KMS, threat detection, and more.
  • Data Encryption: Robust encryption methods secure data both at rest and in transit, mitigating the risk of unauthorized access.
  • High Availability: Ensure data is always accessible, even during system failures, using fault tolerant architectures, data redundancy, replication, and more.

In the financial services industry, effective data security and management are essential for success, compliance, and maintaining customer trust. Cohesity’s modern platform provides a comprehensive solution that addresses the industry’s unique challenges, offering data consolidation, security, compliance, and access features. By choosing Cohesity, financial organizations can unlock the full potential of their data while helping ensure its protection and compliance with stringent regulations, ultimately driving business growth and resilience in the digital era.

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