eSS-Secure Data Exchange Platform For Banks
Banks and financial institutes today operate globally in a highly-connected manner with increasing demand for secure file transfer exchange. File transfers are the means of connecting business processes across applications, business units, locations, customer-facing processes and external systems at trading partners. In a constantly emerging and evolving forms of digital data, all the customer data needs to be maintained with strict security and compliance.
Following are some of the challenges faced by Banks:
- Data breaches during transmission using poor & non-compliant transfer methods such as simple FTP which is highly insecure, copying data on external drives which can be lost in transit and also when the confidential data is printed on a paper and send via emails & courier.
- They also need to make sure that the data composed of Personally identifiable information (PII) such as name, address, social security number along with income, credit score, collection history and Nonpublic personal information (NPI) needs to be encrypted to ensure security and confidentiality.
- Unauthorized access to the information which could result in inconvenience to the customer.
- Need to comply with global financial security standards such as PCI-DSS, Gramm-Leach-Bliley Act (GLBA), Sarbanes-Oxley Act (SOX), etc. for protecting the security and confidentiality of customers’ Personally identifiable information (PII) and NPI (nonpublic personal information).
- Easy to use solution which can be readily integrated with their existing workflow.
For a Bank to run smoothly, eSS is a solution that would reliably and securely govern and manage all critical information flows across the bank – internally and with their external business partners.
Protect data with encryption
Complete end to end encryption is used for protecting data at transit and at rest. All the PII is encrypted prior to upload. Block cipher is AES, which is the same that is being used by the United States National Security Agency. It is further encrypted using the elliptical curve for additional security.
High performance, resilient & flexible transfer
eSS provides an accelerated file transfer solution, which is 20X faster than regular FTP and any other ad hoc transfer methods. There is no limit on the file size & as that data is stored on the cloud there is zero downtime to recover.
Compatibility
As banks have multiple branches and offices across various locations, that data needs to be transferred reliably making sure that the systems are compatible with the smooth transfer process. eSS provides the facility to work on various platforms like Windows, Mac, etc. without any issue.
Ensure regulatory compliance
eSS ensures that the data transfer process across the bank is compliant and secure with enterprise-grade encryption & user controls. It also makes sure that they adhere to global financial security standards.
Seamless Integration
eSS with its open API’s helps to integrate disparate systems and applications to fit in the system product workflow. These types of integration increase security, improve productivity and flexibility, as well as efficiency.
Impressive tracking & reporting
eSS provides tracking system via an audit trail which makes it incredibly helpful and possible for users to glance through all the transfers. Hence, the owners can keep track of who has made the transfers, which location it is being delivered, what time, etc. The advanced management controls and detailed activity logs help them manage and secure bank data without losing control.
Centralized user management
Banks need to balance the security requirements with business needs from everywhere. Hence, managing access is a prerequisite for the user. eSS provides facility to set up a central control mechanism that allows designated admins to monitor users and file movement, as well as audit trail reports for department heads to maintain and monitor application security.
For a Bank protecting the customers’ information is paramount. With eSecureSend, you can securely transfer data, quickly and streamline your business without worrying about any cyber attacks.