Financial: Data Discovery and Classification

Data Security

File-centric, protect-first approach

Don’t put your clients and employees at risk with unprotected PII.

A full-service financial firm that provides advisory, commercial banking, and investment services is migrating to a new document repository after learning the previous one did not meet all its security needs. Since the firm collects and manages personally identifiable information (PII) and other sensitive data from its customers, employees, and partners, security of its data is critical to meet regulatory requirements and protect the firm’s business. The files containing sensitive data are standard office documents, PDFs, and images. As the firm begins the migration, security and risk personnel realize that a lot of PII is not protected adequately. The old document repository had access controls, but once users download documents to local or mobile devices, anyone could access the data. Now they are faced with the challenge of finding how much more sensitive information is also at risk and how can they protect it.

Data discovery and classification are the first steps to securing all the sensitive data stored on endpoints and repositories. Once identified, the firm wants to encrypt and trace all sensitive files. This allows them to meet regulatory requirements and ensure only authorized users can access sensitive data. Fasoo can define sensitivity level by matching patterns, dictionary terms, regular expressions, and context to identify the files with PII in real-time. It can also detect obsolete and redundant files to reduce unneeded data inventory. Risk and security personnel can view detected files in a centralized console to understand the risk and determine file disposition. Once identified, the firm can choose to automatically classify files that have sensitive information by adding metadata and encrypting them based on their level of sensitivity and classification. Dynamic security policies on the encrypted files govern who can access the files and if the user can view, edit, print, share or copy data from the file. Risk and security personnel can audit file access to demonstrate compliance with internal policies, customer requirements and government mandates.

Identify, classify, protect, monitor, and manage sensitive data
Comply with privacy regulations like GDPR, CCPA and CPRA
Protect and control access to sensitive files regardless of location
Trace and track all document usage actions, including derivatives and copies
Provide a centralized console to view all detected files containing PII and other sensitive data

Learn more about data discovery and classification with Fasoo Data Radar.