The trend toward working remotely carries risks in a highly regulated industry like financial services. The sensitive data you work with every day is a prime target for cyber criminals looking to exploit any security hole they can find.
Often, the weak point in a firm’s cyber defenses is the devices its employees use, especially if they’re using personal devices. If you can’t verify the security status of every device that accesses your data, you’re leaving your firm open to a data breach—and the legal and financial consequences that go along with it.
SmartOffice is the first technology provider to address this critical issue for firms like yours. We’ve introduced comprehensive “endpoint” (device) security to our already robust data security feature set with a solution we call SmartOffice Secure.
How SmartOffice Secure Helps You
Consider the security landscape that firms face today:
The costs of a data breach can be devastating, damaging or even destroying your business’s reputation and finances.
The SEC and FINRA require firms to maintain a device inventory and ensure that their employees’ devices meet security requirements. Yet a recent analysis showed that only 17% of advisors’ devices pass all recommended FINRA security checks, and almost 18% fail three or more checks.*
Many firms have a false sense of security because they deploy security software (e.g., antivirus) but have no consistent way to monitor security settings and compliance across all devices.
Cybersecurity regulations extend outside the office to all employees working at home and interacting virtually with clients.
Being proactive about device security helps you in the unlikely event that a breach does occur. With SmartOffice Secure’s logging and audit trail features, you’ll be able to demonstrate that you took steps to prevent an attack.
SmartOffice Secure helps you build an effective cyber defense that keeps you in compliance and protects your business. The benefits don’t just apply to SmartOffice, either; with better device security, you’re also protecting the data in all of your cloud applications.
*Statistics based on a device analysis of 111 firms conducted by OS33 from April 15-30, 2020.
Why You Can Trust Us
SmartOffice Secure is the result of a close collaboration between Ebix and two partners who have extensive cybersecurity expertise and are participants in FINRA’s Preferred Pricing Program:
OS33 is a leader in endpoint cybersecurity evaluation. Their Workplace Frontline solution is the market-leading cloud security and compliance platform for investment advisory firms, broker-dealers and insurance companies with independent agents, representatives and advisors.
FCI has been a leader in cybersecurity compliance in the financial services space for more than 20 years. FCI is a Managed Security Service Provider (MSSP) offering one solution to help firms comply with all cybersecurity regulations.
With our partners’ help, we’ve designed SmartOffice Secure according to the NIST Cybersecurity Framework, a U.S. framework incorporating standards, guidelines, and practices for reducing cyber risks to critical infrastructure.
Need Comprehensive Cybersecurity?
If SmartOffice Secure consistently shows unresolved issues with your users’ devices—or if you’re just interested in a broader cyber defense plan for your business—FCI can help. FCI specializes in comprehensive cyber compliance automation, cyber policy enforcement, mass vulnerability response, 24/7 cyber monitoring, and cyber incident response. For more information, visit their website or call (888) 434-6443.
Frequently Asked Questions
What if I already have endpoint security in place?
Most firms have firewall, antivirus, and similar solutions in place. But these are typically implemented in a patchwork manner, with no consistent control or monitoring. Once employees sign in from computers at home, tablets, smartphones, and new devices, it becomes difficult to administer enterprise-wide cybersecurity. SmartOffice Secure doesn’t replace these other solutions; it ensures that they’re being applied consistently for all devices that accesses SmartOffice.
Will SmartOffice Secure help me if I’m audited for cybersecurity compliance?
Yes. SmartOffice Secure provides a comprehensive accounting of every device/endpoint, along with access and compliance history, in real time. You can provide these records as part of your response to a compliance audit from any regulatory agency.
Will SmartOffice Secure help me if I am hacked?
SmartOffice Secure is designed to help you avoid this situation in the first place. But if a breach does occur through an endpoint supported by SmartOffice Secure, FCI will provide complete support to you. FCI will help you fix the security vulnerabilities in your infrastructure, analyze the source and cause of the breach, and deliver any supporting materials to regulators and any other parties that require them.
If I have technical issues, who provides technical support?
You can report any issues to SmartOffice Technical Support. If they can’t resolve the issue, they will route it to another party within Ebix or to OS33 or FCI, depending on the nature of the issue.