Is Moving to the Cloud Safe?
Understandably, many of the most notable concerns organizations have when considering a cloud-based solution for their office are cloud security risks that could threaten their sensitive data. As we all know, when private information isn’t reliably protected, especially when it comes to financial data, the fallout from even one security breach can amount to several millions in fines and lost revenue.1
Many companies believe that on-premise solutions are more secure simply because it’s kept in-house. As the old saying goes, “If you want something done right, do it yourself,” right? Who could possibly care for your data as much as you do? Though that logic may make sense to some degree, the truth is that on-premise hardware is not only a notable expense for your company and time-consuming for your IT team to maintain – it’s also much more likely to be a data security risk than cloud-based solutions. In fact, the majority of data leaks are leaks within on-premise systems, not cloud-based systems.2 Just because your information is stored in-house, that doesn’t mean someone can’t break in to steal it.
And, if an issue were to occur, we know that 77% of enterprise-size companies don’t have a up-to-date cybersecurity response plan. What’s even more concerning is that 57% of business leaders say it’s taking longer to resolve cyber incidents within their current infrastructure, and 65% of this group also believe that cyber-attacks are increasing in severity.3
To prevent cloud security issues from occurring, Cloud hosts are far more likely to have well-configured, state-of-the-art load balancers, and web application firewalls to protect from Denial of Service attacks, SQL Injections and Cross-Site Scripting, the most common types of hacking attacks, as well as more up-to-date patches than the average enterprise-size company. The expertise they bring to IT infrastructure helps maintain the protection that companies need for reliable data security.
If you’re still not convinced, just remember this – if an issue were to arise, your team will mostly likely be primarily responsible for solving the issue and preventing it from happening again in the future. By partnering with a vendor with strong cloud security risk expertise, one who understands the complexities of federal regulations such as Health Insurance Portability and Accountability Act (HIPAA), Gramm-Leach-Bliley Act (GLBA), Sarbanes-Oxley Act (SOX), US State Regulations such as 201 CMR17 (Massachusetts Data Security Regulations), 23 NYCRR 500 (NYDFS Cybersecurity Regulation) along with International security and privacy regulations such as the EU General Data Privacy Regulation (GDPR), German Federal Data Protection Act and Australian Information Privacy Act 2014, you’ll have someone watching out for you that truly understands and is constantly monitoring cloud security risks.
According to Gartner, the Cloud will be the default option for software deployments by 2020. Companies worldwide understand the security benefits that come with trusting their sensitive data to world-class professionals, and it’s now time for you to take advantage of the cost savings, accessibility, and, most importantly, improved security that comes from them, too.
Trintech’s Cloud Security Standards
At Trintech, we take data security seriously and continuously invest in new capabilities and certifications. We provide a single-tenant cloud-deployment that offers:
- Single tenant private cloud
- Data encryption in transit, at rest, and in storage
- Public/Private key pair for client-specific encryption of all customer data
- Dedicated application instances, not shared with other clients, through a back-end database
- Dedicated databases, application and file structure for each client
- And more!
To learn more about Trintech’s data security in the Cloud, read this brochure.
Written by: Caleb Walter
1 Security. (n.d.). Retrieved May 6, 2018, from IBM.
2 Clouds are more secure than traditional IT systems — and here’s why. (n.d.). Retrieved June 11, 2018, from Search Cloud Computing.
3 Forrest, C. (n.d.). Report: 77% of companies don’t have a consistent cybersecurity response plan. Retrieved May 6, 2018, from Tech Republic.