Enterprise digital rights management (DRM) is a core building block of information security. Enterprise IT teams in the banking, financial services and insurance (BFSI) sector should use DRM in concert with data loss prevention (DLP) tools, firewalls and antivirus/anti-malware tools to create a secure information network.
Enterprise DRM empowers IT teams to place specific access controls on any file or folder that leaves the corporate network. These DRM’ed files could (among many options) be configured to expire after a certain date, only open a set number of times, or formatted so that printing, downloading or copying/pasting is unavailable.
Enterprise DRM Helps Defend Against Your Weakest Link: End Users
While cyber crime is always going to be a threat, your unwitting end users are perhaps your greatest enemy.
You may want to trust that your employees, partners and vendors won’t misuse information or unknowingly allow it to be compromised. However, according to a study by IT industry association CompTIA, industry professionals and executives surveyed said human error is the root cause of 52 percent of data security breaches.
When enterprise data leaves the corporate perimeter, IT must remain in control. With enterprise DRM, IT teams can control user access rights, making files read-only unless viewed within the corporate network, and prevent printing, downloading, copying/pasting or other ways the data could be misused.
Enterprise DRM Ensures Regulatory Compliance
When your security follows your data, you know that it’s safe. Enterprise DRM allows IT teams to control data wherever it goes.
Any kind of regulation or compliance essentially boils down to being careful about data. Enterprise file security elements such as access rights control, data fencing and network encryption are all encapsulated within the enterprise DRM technology suite. This means that with DRM tools in place, enterprise IT is in a better position to meet regulatory and compliance requirements, regardless of where the data goes.
While the details of the many compliance scenarios that affect the BFSI sector are too nuanced to discuss here, a basic example of how enterprise DRM enables regulatory compliance may be seen in the personal card information (PCI) use case.
International standards require that PCI (credit card numbers, for example) be encrypted, rather than in plain text. To ensure compliance with this regulation, a company could identify files containing plain text credit card information and use a DRM tool to encrypt those files.
The threat of data loss, leakage or theft is only increasing as the BFSI sector grows and becomes more mobile-device friendly. A robust enterprise file security suite, complete with integrated enterprise DRM, is essential for any IT team operating in a highly regulated space such as the BFSI sector.
With the right enterprise DRM solutions, IT teams can ensure that sensitive data remains under their control beyond the corporate network, whether it’s with a third party or stored on an end user’s mobile device.
When enterprise IT has full control over company data, the device it’s on or where it’s stored ceases to be an issue.
Read 5 Ways Enterprise DRM Helps The BFSI Sector Avoid Costly Data Leaks to learn more about enterprise DRM and how it enables BFSI firms to keep sensitive data under control.