Trintech Makes Extensive Investments in Data Security for its Record to Report Solutions
The news is flooded with stories of major corporations experiencing cyberattacks and other kinds of security breaches; whether it’s Equifax or even the SEC, it can be challenging and difficult to trust that your confidential data is secure. Even on-premise solutions are at risk, which is why many companies are turning to the cloud, and partnering with their software vendors to keep their data secure.
For this reason, Trintech has made extensive investments, including HIPAA compliance, end-to-end data encryption and public/private key pairs for client-specific encryption of all data, to protect the information housed in their cloud solutions. These enhanced protections, in addition to the previously established comprehensive safeguards surrounding its single-tenant private cloud infrastructure, are crucial for any office of finance, and especially for those working globally or in industries with sensitive data.
Trintech’s single-tenant cloud-deployment model prevents the co-mingling of client data, allowing the company to provide end-to-end encryption along with its dedicated databases. Once integrated into the company’s Record to Report solutions, all customer data is encrypted at rest and in transit using secure protocols.
End-to-end encryption is particularly important for maintaining compliance with HIPAA for the management of Protected Health Information (PHI), Personally Identifiable Information (PII) and confidential and proprietary corporate financial data because it prevents sensitive data from being exposed throughout all stages of use. In comparison, the majority of multi-tenant cloud-deployment models are not able to offer true end-to-end encryption.
What’s more, specifically for financial professionals working in the healthcare industry, Trintech’s solutions are HIPAA compliant, as determined by a third-party audit firm. To be a HIPAA-compliant provider of Record Report solutions, the company has taken the necessary steps to offer end-to-end encryption for PHI such as patient or member names, addresses, phone numbers, birth dates, social security numbers, and more. Particularly in the event of an audit by the Office of Civil Rights, being able to prove that electronic PHI, even when used in solutions provided by outside vendors, has been adequately safeguarded is a crucial component of an organizations ability to defend against an audit. Additionally, Trintech conducts annual employee training to ensure all of its personnel understand HIPAA obligations, and can include a Business Associate Agreement (BAA) as part of the contract with its customers.
Trintech’s private cloud environments offer SOC 1 Type 2, SOC 2 Type 2, and HIPAA compliance along with a slew of other standards which ensure that your data is secure and protected, to support you wherever or however your company does business. Spend time worrying about your business and how to continue its growth, not wondering whether or not your company will be the next victim of a cyberattack.
And, once the issue of ensuring your data’s security behind you, you can now take advantage of the benefits of a cloud-based solution, such as enhanced accessibility, cost reduction and business continuity.
Learn more about Trintech’s advanced cloud security measures today.
Written by: Sam King