Due to its inherent nature, the finance industry will always have one of the biggest targets on its back when it comes to cybersecurity risk. It must consistently remain up-to-date with the latest solutions for preventing and mitigating fraud, AML, and other related risks.
To help financial institutions, Aite-Novarica Group just published their quarterly Spotlight report: Risk Insights and Advisory Fintech Spotlight: Q3 2022.
ITsMine is honored to be selected as one of the five vendors included in the report. This feature praises ITsMine’s technology as one of the most innovative cybersecurity and data-protection solutions available for financial institutions and fintech firms.
Below we provide some analyst insights, as well as discussing MDP – Managed Data Protection as a Service, that can be offered by MSSPs.
Here’s a summary of the report and the other vendors that are included.
Summary: Risk Insights and Advisory Fintech Spotlight
The report profiles five vendors that help secure financial organizations and prevent fraud, AML, and cyber threats. Each company profiled in the report was selected exclusively based on its innovative solutions and approaches to business challenges faced by financial institutions and other fintech firms.
Commenting on the report, Tari Schreider, cybersecurity strategist & architect, had the following to say about ITsMine’s BeyondDLP™ solution:
“There are so many things I really like about the ITsMine BeyondDLP solution. For example, in most DLP cases data protection passes through a gate and is inspected, while in the case of BeyondDLP, the product ‘envelops’ the data in protection.
“Safe Zones are also something that are really important for organizations, and that have the potential to positively change the behavior of an organization – as long as you’re operating in the Safe Zone, employees can share data safely and easily. The FileGPS function is also something that is powerful and unique.
“I think BeyondDLP is a game changer for any MSSP, especially when they’re trying to grow their customer base. DLP is often a gap in the tech stack of MSSPs, and offering a differentiated product can give an MSSP a massive advantage.
“The product is deployed easily and doesn’t need a lot of support, which is also great for MSSPs. I like to think of it as the ‘Swiss army knife’ of data protection, and defining the product narrowly as a DLP solution is almost limiting its positioning.
“The benefits of breach prevention and regulatory compliance are huge, especially given current and future threats, as are the ransomware prevention capabilities and a feature I love – the Heatmap, that shows where all data is in the cloud, and what data is in Safe Zones.”
Key here is MDP – Managed Data Protection as a Service, that is offered by MSSPs to their clients. With data protection becoming so critical, and MSSPs charged with protecting clients’ data, MDP is the perfect service for MSSPs to offer clients – and ITsMine is the ideal platform to provide this service.
Fintech security, fraud, and AML vendors
Here is a short list of the companies that are featured in the Fintech Spotlight:
- Hummingbird‘s intelligent compliance and customer relationship management (CRM) solution.
- ITsMine‘s cybersecurity and data loss prevention platform allows managed security service providers (MSSPs) and customers to track, protect, and monitor data everywhere.
- Kasada‘s a bot mitigation solution that helps businesses to defend against automated threats.
- Napier‘s end-to-end AML solution offers modular KYC, CDD, and active screening and monitoring.
- Sardine‘s real-time risk scoring fraud engine powered by advanced machine learning to guard against fraud.
Aite-Novarica Group selected ITsMine for our platform’s groundbreaking data protection features and dives deep into how ITsMine’s Agentless BeyondDLP solves critical problems like data sharing and attack prevention.
Check out the report to find out how the platform’s three-layered approach to data privacy combines with powerful core product features to solve significant market challenges such as data storage and sharing, security awareness, controlled access, and ransomware detection and prevention.