Protecting the privacy of consumer information held by financial institutions is at the heart of the Gramm-Leach-Bliley Act (GLBA) of 1999. The GLBA applies to financial institutions – companies that offer financial products or services to individuals, like loans, financial or investment advice, or insurance. Companies that fail to comply with GLBA regulations face a $100,000 fine per violation and even potential jail time, YIKES! Despite being in existence for nearly twenty years, many businesses still struggle to meet GLBA compliance.
What if you could ensure all your organization’s data was secure and in compliance with GLBA? Providing companies with controls and system security that enables compliance, ensuring all important documents are safe, secure, and compliant with current GLBA regulations.
Establish Strong Security Processes. Are your current security processes GLBA compliant? The Safeguards Rule mandates financial institutions have a written security plan that describes how they maintain customer confidentiality. Providing extensive security features, reducing time, energy, and money spent trying to establish security plans.
Notify Users Easily. Are you able to notify your customers about sharing their private information? The Financial Privacy Rule requires you to notify your customers when and how their information is being shared. Allowing you to share an unlimited number of privacy notices so your customers are always aware of when their data is being shared.
Quickly Track User Activity. Are you tired of spending hours trying to track down information requests? GLBA requires user activity to be tracked. Digitech has powerful search functions that allow you to track user login and activity making information audits a breeze.
Ensure Compliance. Can you afford a fine from not being compliant? GLBA violations are $100,000 per violation, not to mention potential imprisonment for up to five years. Along with good data protection practices enable GLBA compliance to help you avoid costly fines.
Protect from Disaster. Are your important documents safe if disaster struck? Disasters happen and often its when we least expect them. You know your files are always protected safely in the cloud with ImageSilo®, allowing you to recover from disaster quickly.
Save Money with the Cloud. Can you access your information from anywhere? Ensure access anytime, anywhere. Reduce operational expenses by eliminating hardware and IT costs through implementing easy-to-use cloud technology to improve security without a costly investment.
“Thanks to the multiple layers of security in ImageSilo®, we can make sure that only the individuals that need access to a file have it. We have greater control of our documents and know that they are being held in compliance with GLBA regulations.”
– Aaron Baltisberger, VP of Commercial Lending, Two Rivers Bank & Trust
Improve your understanding of these important privacy regulations using our two-page compliance brief. This simple, but straight-forward write-up helps you match GLBA requirements to specific technology aids to get right to the heart of what you need to do to stay compliant. Create a strong GLBA compliance strategy that you are confident in.
Distribute information efficiently, keep sensitive data secure, and establish a security plan you are confident in, to ensure compliance, improve productivity and save money.
Become a GLBA expert and learn how your Financial Service institution can be GLBA compliant.
