Why device management is needed more now than ever in FinTech

Figures released by a recent report shows worldwide FinTech investments topped $44bn totalling 3,052 deals in 2020, with the UK accounting for 408 deals and $4.1bn in funding.

As investment grows, implementing a device management solution that keeps FinTech companies moving forward, as well as company and customer data secure, that also provides a brand enhancing onboarding experience for employees, is advantageous.

In today’s landscape, customers, suppliers, and business stakeholders want to be sure that you are not putting them or their businesses at risk by not having the appropriate safeguards in place for data loss.

For both FinTechs and banks, data protection is a problem that can impact the survivability of the business. Data is one of the most valuable assets to any organisation and in turn, the protection of that data, especially when it comes to financial information.

Understanding the risk for your organisation

In general, all businesses should understand where the breaches may come from in order to combat it.

Organisations have had to adjust quickly to working from home or a hybrid model of working and as a result, enhanced device security for all organisations has been at the forefront of minds.

46% of organisations have reported a breach of their cyber security in the last 12 months because of being unprepared or a lack of tech infrastructure to facilitate WFH. Further to this, 25% of UK employees have allowed their children to use their work device during the pandemic. It’s no secret that children don’t have cyber security as a front of mind goal whilst surfing the internet.

ISO27001 and its value to finance companies

ISO 27001 is the international standard for information security and sets out the industry standards for information and cyber security. Here at DARE we comply to all industry standards and are experts in ensuring your team is secure online and Apple devices are compliant.

Instilling a cyber security culture within your business, from the CEO to the receptionist, to mitigate risk, is of the utmost importance. This is most prevalent due to human error being the main cause of all security breaches (90%).

Putting cyber security at the centre of your service proposition should identify your most critically important data assets as well as examining your internal procedures that protect the customer data being held within the organisation. Basics such as secure passwords for all stakeholders, two factor authentication and essential app updates on your Apple devices should be as important as day to day trading.

Furthermore, complying with ISO 27001 can help to ultimately classify information, define information, define security roles and responsibility, and implement mobile technology management systems.

Why Apple Device Management for Fintech and Banking security?

There are several other benefits why Banks or FinTech should invest in an Apple device management solution. Other reasons that spring to mind include the ease of scalability, immediate and essential device controls, timely updates, and the value of confidentiality.

Using a combination of Jamf with DARE’s professional services will allow you to:

  • Shield your business from common information security pitfalls
  • Avoid risks and wasted time by involving a security monitoring system earlier in the event of a possible breach.
  • Specify security policies and push configurations to the devices
  • Connect remote users securely and save resources using zero touch deployment
  • Digitise information security.
  • Work with a team of experts who bring industry-specific knowledge.
  • Fast-track processes, analyse and mitigate your risks.
  • Work securely and with greater efficiency.

Being compliant with industry standard regulations allows FinTechs and Banks to not only protect their business and their staff, but also instil a sense of trust in their customers.

Get in touch to find out how DARE can help you secure your business using Apple with Jamf.

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Systems Engineer & Junior Systems Engineer Due to fast and ongoing growth, DARE is looking to expand the technical team with a Systems Engineer and a Junior Systems Engineer.  Working with organisations around the UK & Europe, DARE offer consultancy and support services to users of Apple technology.  As DARE are a Jamf

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