Data Classification Key to Effectively Protecting Information in the Financial Services Industry

For financial services organizations, protecting their customers’ sensitive information is a top priority. When sensitive financial information is breached, fines, lawsuits, and embarrassing headlines are just a few of the many consequences that can occur.

More and more financial services organizations are taking an increasingly proactive approach to information protection – an approach that oftentimes begins with data classification. Take New Jersey-based Provident Bank as an example…

Provident Bank knew that data classification was important, and had been classifying their information for years. But they realized their manual classification process was prone to errors, such as failing to apply a classification, typos, and inappropriate classifications. Because classification keywords were being used to trigger encryption of sensitive customer data, ensuring that classifications were applied correctly was critical.

By using TITUS Classification Suite, end users at Provident Bank are prompted to classify so that they don’t forget or make spelling mistakes, and if they are unsure about which classification to apply there is immediate help to guide them to the right choice. Provident Bank is, in effect, promoting a culture of security that enables organizations to enforce data governance policies and prevent any inadvertent disclosures.

“For us, it is all about protecting customer information,” said Nathan Horn-Mitchem, Vice-President, Information Security Officer, Provident Bank. “When we show regulators that we’re classifying with TITUS, they are impressed that we can show with a high degree of confidence that email going out the door is protected. But more important for us is the fact that we can assure our customers that their sensitive financial information is safe.”

What to learn more? Have a listen to this webinar featuring Nathan Horn-Mitchem from Provident Bank as he speaks to how they transformed their information protection strategy with TITUS. Or check out the case study.

Leave a Reply