How BFSI Sector Can Reap the Benefits of Enterprise DRM

Each time any digital document leaves the protected limits of an organisational system, it immediately becomes vulnerable to being misplaced, disclosed or robbed. Especially susceptible to information loss is the banking, financial services and insurance sector (BFSI) due to the classified nature of the data that such firms need to safeguard. Thankfully, a number BFSI institutions employ robust technology in order to preserve and safeguard their most classified information and keep it well under control; with the help of enterprise digital rights management technologies.
data protection
Here are some of the ways that the BFSI sector can reap the benefits of enterprise digital rights management (DRM).

Maintains digital security in spite of data being in motion

Almost every bank, insurance company and financial services institution across the world leverage digital assets such as top secret trade information, intellectual property, algorithmic programs and formula to bring about profits and assure their stakeholders. Intellectual property information or proprietary data is extremely exclusive and private to every organisation that helps set them apart from their contenders, which is why safeguarding that information extremely vital. Such information is usually maintained in isolated and protected servers. But sometimes it has to be shared or transmitted from one place to another. By employing enterprise DRM in organizations, the IT department can safeguard classified data by permitting the information to be sent in an encrypted format. An additional layer of security is further added to classified data when data in motion is encrypted.

Enterprise digital rights management can be enabled on personal and corporate devices. Almost every professional in the BFSI space has to resort to complex spreadsheets in order to carry out financial examinations. A bank that has a global workforce has to look into specific demands from their end-users who would want to access these classified spreadsheets on their personal devices. Here, it is the decision of the IT department to decide whether such confidential spreadsheets can be made available on a personal device and if so in what manner. With the help of enterprise DRM, mobile duplicates of confidential spreadsheets can be made available only in a viewable format, without permitting the spreadsheet to being edited or shared. Furthermore enterprise DRM also helps in ensuring that such classified spreadsheets cannot be accessed by third party applications on the personal device nor can it be attached to emails.

One specific extension of enterprise DRM, also known as data containerization permits IT departments to limit how information is being accessed by limiting the access to a precise folder; the IT department can then ensure that the permitted end user is not allowed to duplicate classified information from a secure file server to his personal device. If the user attempts in trying to view the protected file, an error message will be received by the user as the access to such a document is limited to within the file folder on the server.

Furthermore, the IT department could also ensure that any information sent or duplicated on an external device can be delivered with DRM rights. By doing so, the IT department can instantaneously enforce DRM policies and rights to any classified information that moves outside of the organizational boundaries. Even if the secure file gets transmitted and duplicated a number of times, each time it is viewed, the original corporate server receives a ping that helps in verifying the established access rights controls.

DRM uses a data-centric perspective to digital file security by ascertaining that classified data constantly remains under the control of the IT department. Secure your data with Digital rights Management technologies.