Security News > 2022 > September > Better than a fix: Tightening backup and restore helps financial services companies innovate

Financial services organizations are being squeezed on all sides, as regulators are tightening legislation, from SOX to CCPA, GDPR and global data privacy laws like PIPL. In this firestorm, it's never been more important for financial services organizations to level up their data protection and risk mitigation strategies.

According to the report, financial services reported the second-lowest rate of data encryption at 54%, compared to a global average of 65%. Amongst the financial services organizations that were hit, 52% paid the ransom to restore data, which is higher than the global average of 46%, and the survey found that the average remediation cost in financial services was US$1.59M, which is above the global average of US$1.4M. Response rates are too slow.

Financial services data is high-frequency data, and it covers complex relationships.

Build a backup and restore process for your data that will stand up to even the most catastrophic data loss scenarios.

Salesforce data is more important than ever as many financial services organizations are using it for material use cases, managing the transactions and interactions that sit at the very heart of the business.

One of the things that financial services want to do is safely test new configurations of their Salesforce or CRM data.

News URL

https://www.helpnetsecurity.com/2022/09/09/financial-services-data-protection/