Regulatory compliance in financial services is a challenge for all departments. Yet, because most financial transactions are digital, much of the responsibility to monitor and manage compliance falls on IT.
Two factors to prioritize in your compliance management strategy are data security and 'regulatory technology', otherwise known as "RegTech". As a trending financial technology subset, RegTech is integrating artificial intelligence (AI) and machine learning to automate regulatory compliance.
Data Security
Much of maintaining regulatory compliance starts with securing data. For example, complying with the Gramm-Leach-Bliley Act (GLBA) requires financial services companies to maintain “up-to-date and appropriate programs and controls to prevent unauthorized access to customer information.” Other regulations around the world also have similar requirements.
By deploying business-grade PCs with strong data encryption tools and built-in security and manageability features, you save time, effort and costs of continual endpoint device monitoring. Lenovo recommends devices with:
- Full Drive Encryption (FDE) with a qualified TPM chip encrypts data and prevents unauthorized access, using Windows Bitlocker, for example
- On Intel vPro™ platform-based devices, IT admins can wipe SSDs remotely using Intel® Remote Secure Erase
RegTech
RegTech solutions are mostly cloud based and are delivered as software-as-a-service (SaaS) solutions to help businesses minimize risk, and comply with regulations efficiently and less expensively. The cornerstone of every RegTech SaaS company is data security. Financial services organizations need to safeguard sensitive information, and one of the most direct routes to improving your risk posture is to give employees business-grade PCs that protect against security attacks.
- Business-grade PCs such as Lenovo's ThinkPad and ThinkCentre range of devices include hardware-based multi-factor authentication (MFA) features that are almost impossible to hack.
- Smart USB protection blocks data transfer capabilities of USB ports
- Lenovo systems with Intel® Remote Secure Erase offer a secure, cost-effective way to sanitize devices in just seconds
PCs are a gateway into your organization's network. So when you are dealing with sensitive customer data ensure that only the authorized people can access it and your endpoint devices are not compromising your network security.
