Because every industry has unique challenges and requirements when it comes to safeguarding company documents and data, we’d like to present the second in a series of blog posts that address industries with high levels of confidential data/documents as well as compliance obligations.

The financial services industry is one of the most highly regulated industries due to the private nature of customer finances. As mentioned earlier, the Gramm-Leach-Bliley Act requires financial institutions, such as banks and insurance companies, to implement the appropriate technical, physical, and administrative safeguards to maintain the privacy of customer information; other similar regulations are in place, as well.

Financial services employees are well aware of the need to protect sensitive data. InfoTrends research shows that an overwhelming 92% of bank employees believe “privacy and integrity of data and information” is an extremely important goal for their organization. Similarly, 89% of these individuals consider “compliance and regulations” to be an extremely important goal.

Insurance agents surveyed by InfoTrends voiced similar concerns. One way for banks, insurance companies, and other financial institutions to protect customer data is through “print on demand.” This term is used to describe the act of retrieving and printing documents via the printer or MFP touch screen. When the documents are accessed from a secure network folder, this method can be preferable to sending print jobs from a desktop computer. A number of risks are reduced, including the possibility of the document being seen on the desktop computer, the chance of it being intercepted during transmission, and the likelihood of it being left on the print/MFP output tray.

For more information on how managed document services can help secure your company’s print environment, please contact us today.