Protecting sensitive information is paramount to Envision. That’s why we take a risk-based approach to cybersecurity and address data security at every phase.
Data at Rest
Data at rest encompasses information stored across multiple devices and backup copies, both locally and on the cloud. Implementing robust access controls and encryption protocols is essential to safeguarding this data. Regular updates to encryption methods are crucial, as outdated algorithms may pose security risks.
Data in Transit
Data in transit refers to information being transmitted between networks or within a network. Utilizing encryption for data transmissions, such as SSL, HTTPS, and TLS, helps mitigate the risk of unauthorized access during transit. Secure protocols ensure the confidentiality and integrity of data during transmission, including file transfers and communication between application tiers.
Data in Use
Data in use pertains to information actively accessed, updated, or deleted by users within an application. Implementing least privilege principles ensures that users only have access to the data necessary for their roles. Masking sensitive fields and enforcing stringent access controls minimize the risk of unauthorized data exposure.
Taking a Structured Approach
To effectively safeguard data at every phase, financial firms must adopt a disciplined, structured approach to cybersecurity. This involves comprehensive analysis of data generation, transmission, usage, and storage processes. By identifying and addressing potential vulnerabilities at each stage, firms can bolster their overall cybersecurity posture.
Embracing a Risk-Based Approach
Ultimately, safeguarding data requires a risk-based approach that prioritizes attention to every phase of the data lifecycle. By proactively assessing and mitigating risks, financial firms can minimize the likelihood of data breaches and ensure the confidentiality, integrity, and availability of sensitive information.
In conclusion, protecting data across its lifecycle demands a proactive, multifaceted cybersecurity strategy. By implementing robust security measures at rest, in transit, and in use, financial firms can effectively mitigate risks and safeguard against potential threats, maintaining the trust and confidence of their clients.