Leading research firm, AITE, specializing in the financial services industry, had interviewed 10 technology companies and 5 financial services organizations that are in deployment or investigating technology vendors for these capabilities. The research indicates that “it is no longer effective to only apply controls to traditional databases and applications, as most data created now is unstructured.” And goes on to recognize that “very little effort has been devoted to managing unstructured data and even less to protecting it.” However, market trends and implications indicate that data discovery and classification are evolving in response to changing privacy regulations such as GDPR and CCPA.
“The timing of this research couldn’t be better.” Said Deborah Kish, EVP, Research & Marketing at Fasoo. “More and more we have been seeing companies struggle with gaining visibility and control over their unstructured data, and choosing a tool that fits within their budget can be difficult. We have a great foundation toward a more cohesive strategy that is ideal for small and mid-sized organizations.”
On December 1, 2020 at 2:00 pm EST, Fasoo and AITE will summarize the Impact Brief in a Webinar “Financial Institutions Seek a Step-In Approach to Sensitive Unstructured Data Compliance and Security” and will highlight a common use case in a large Financial Services Institution. Participants will receive a complimentary copy of the AITE Impact Report.
Fasoo products span the life-cycle of sensitive unstructured data to discover, classify, protect, monitor, control, track and expire access to content wherever it travels or resides. Its integrated solution enables users to securely collaborate internally and externally with sensitive information while consistently meeting corporate governance and regulatory requirements. Its file centric approach using encryption with a unique identifier allows organizations to have more visibility and control over unstructured data without interrupting workflows. Fasoo has engaged in this journey with over 1,500 enterprises to field data-centric solutions that proactively protect corporate brand, competitive position and meet ever-increasing regulatory demands.
About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.