Superna helps the financial services industry protect its most valuable assets
Protecting unstructured data in the Financial Services has become more critical than ever
Financial services firms leverage unstructured data to extract insights and value
Financial institutions harness the power of advanced analytics, artificial intelligence (AI), and machine learning (ML) techniques to extract insights and value from unstructured data. By analyzing both structured and unstructured data, they can enhance risk management, improve customer service, identify potential fraud, and gain competitive market advantage.
How Superna can help your organization
When it comes to protecting unstructured data – data that doesn’t fit nicely into a traditional database structure, such as emails, documents, audio recordings, and video files – the financial services industry faces some unique challenges.
The financial services industry is a prime target for cyber attacks, and unstructured data can be especially vulnerable to these attacks. Hackers will typically exploit vulnerabilities in email and file-sharing systems to gain access to sensitive data.
The financial services industry generates vast amounts of unstructured data, including emails, documents, and other types of files. This presents a challenge around storing and securing the financial data, as well as ensuring that it is easily accessible to authorized users for collaboration.
The financial services industry is subject to various regulations, such as GDPR, PCI DSS, and FINRA, which require businesses to protect sensitive data and prevent unauthorized access to it. However, unstructured data can be challenging to manage and secure, which makes compliance with these regulations that much more difficult.
Unstructured data is often spread across multiple systems and departments, creating challenges in terms of accessibility and data sharing or collaboration. This makes it difficult to identify and respond to cybersecurity threats and ensure compliance with industry and regional regulations.
Insider threats – like employee theft or negligence – pose a significant risk to the security of unstructured data. Employees may accidentally or intentionally share sensitive data with unauthorized parties, or fail to follow established security protocols leaving it exposed to hackers, ransomware, or exfiltration
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Financial Services Frequently Asked Questions
Common questions we receive about the financial services industry and our answers.
As a result of the mass digitization of finance and banking operations, large volumes of unstructured data are now being created. As opposed to unstructured data, which is easily labeled and cataloged for future discovery, unstructured data results from things including customer service records. While not the same thing as the sensitive data that can be embedded in financial transactions or under the constraints of regulatory compliance for financial institutions, this information presents the opportunity to be mined for deeper insights into customer engagement.
Banks can ensure the data security of their unstructured data by ensuring there is a layer of data security wherever the information is being stored. While the data in and of itself is not valuable, any malicious changes to the information or leaks could lead to penalties and/or loss of reputation for the banks and financial institutions involved.
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