Ennio J. CarboniIn today’s ever changing data-centric reality, financial institutions are challenged by more than just the well-documented cyberattacks. With larger quantities of data and more methods available than ever before for data transfer (including cloud and mobile), there is an increasing lack of control and transparency over the movement of files used to do business. And when an organization is dealing with highly sensitive and highly regulated information, control over that information is paramount.

To mitigate risks and reduce the scope of work for IT departments, financial service institutions need to have manageable file transfer systems and procedures in place to meet the standards for data privacy, integrity and availability across the entire IT infrastructure. A managed file transfer system helps ensure and maintain compliance as well as enforce and monitor access control to prevent vulnerabilities.

IT professionals in financial institutions need to know where files are at all times and be aware of who has access to that data. This is easier said than done, as existing challenges provide added stress and risks, including:

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