With its ever-increasing demand for on-a-dime business agility and round-the-clock availability, the financial market is now one of the most promising ones for technology resellers to target. Financial services firms must balance their technological needs with their compliance requirements, making them complicated customers—but often rewarding ones, too. Here are three product types to sell into the tech-hungry financial market.
1. Enterprise Mobility Management (EMM) and other BYOD security solution
Mobility is a necessity in the highly competitive, highly globalized financial market, and organizations in the financial sector need to slim down their capital expenditures and operating costs just like everyone else. BYOD is an attractive option to many. The data security standards that financial services firms must meet are higher than those in most other verticals, however, due to the sensitive nature of consumer identity and financial data. To secure protected data while improving accessibility and productivity in a mobile or BYOD environment, financial services firms must implement advanced mobile and BYOD management and security solutions like Enterprise Mobility Management (EMM). Such solutions will help IT gain visibility and control into employee devices and mobile activity and often also provide secure mobile productivity applications and tools to cut down on the risk of shadow IT.
2. Cloud encryption gateways
Mobility isn't the only technology trend to sweep the financial services sector. The cloud offers significant cost savings and business agility and scalability benefits over traditional, on-premises infrastructure, and more and more financial firms are turning to cloud computing for even business-critical applications. Along with the cloud come new security challenges, however. Financial services organizations are excellent candidates for the new generation of cloud encryption gateways, which encrypt sensitive data according to corporate policy before the data ever leaves the corporate perimeter. Such devices offer numerous advantages over cloud-based encryption services, many of which do not provide the enterprise with enough control over encryption keys to satisfy compliance requirements.
3. Employee cybersecurity training
The last product on your list is a little different from the others. It's you, the security expert.
The biggest security vulnerability at just about any organization, but especially at financial services firms, is the employee. Not the insider threat who acts in a premeditated manner, but the well meaning, run-of-the-mill information worker trying to find ways to increase their productivity and meet the accessibility demands of today's mobilized, cloud-dominated business world. Cybercriminals lay traps everywhere for the unsuspecting information worker, with phishing and malware being just two of the best-known methods. Employees who practice poor password protection, use the same password across multiple corporate and personal services, or fall for malicious links can open an enterprise up to a massive data breach. Communicate what a tempting target a financial services worker makes for cybercriminals and the scope of the risks employees create to the enterprise. Then offer your services as a security expert to educate information workers on basic cybersecurity.
The financial services sector's technology needs are urgent, thanks to the demand to stay competitive while remaining compliant. VARs who capitalize on these needs and who understand the solutions that can help enterprises meet them can dramatically increase their own bottom lines. Are you ready to do so? If not, speak to one of our security experts today to learn more about securing a financial services organization in the mobile, BYOD, and cloud world.