A person's financial data is the biggest prize for cyber criminals, making financial institutions a large target. No organization wants to endure a data breach, but it can be devastating for financial organizations. Built on trust, their continuity depends on protecting highly sensitive data.
As a result, resource-strapped IT departments will often bend to the pressure by adding more layers of security tools or applications which increases complexity. These applications compete for server space and conflict with each other, resulting in a counterproductive effect.
Financial institutions can help improve the security of their customers' personal information by streamlining operations, reducing complexity and increasing financial data security.