Outsourcing Financial Services: Data Security Policies

Remote Servers, emails and the internet are shaping the way financial service providers transact business. But the gains of the electronic age have come at the cost of financial data security breaches and cyber crime which directly impact the bottom lines and goodwill of financial organizations.

Instances of identity theft, phishing and fraud have left many financial organizations open to bad press, loss of revenues and law suits worth millions followed by the inevitable tumble at the stock markets causing immeasurable loss in investor confidence. Countries like the U.S. and UK have enacted new financial data disclosure legislations to counter the rising incidence of cyber crime and to ensure improved financial IT security.

Financial Data Security at O2I

A recent study conducted on financial data security policies of global service providers concluded that most such organizations have data security measures that work only in reactive mode. That is, they kick start after lapses in financial data security are detected. Outsource2india’s core team of IT security experts made sure that we are ahead of the times in this respect.

Our financial data security policies work in a proactive 3-step process of prevention, detection and rapid response to deter potential network misuse or financial data security lapses. The experts at O2I have put in place high security financial service centers and surveillance systems that encompass all aspects of our clients’ business: the people, processes and technologies within the organization including all third-party vendors outside it. Outsource2india systems are devoid of external drives to avoid data duplication or copying and have restricted print permissions to prevent data misuse.

Our clients can be confident that O2I’s financial service delivery works on completely locked down system channels with financial data privacy measures that are secured through the utmost redundancy.

Read more about Outsourcing Accounting and Finance Services to O2I.

Processes at O2I mandate the sharing of information on a strictly need-to-know basis only and have put in place powerful network authentication tools. We investigate any data transfer by employees that do not comply with our security stipulations. For utmost financial data security we have put in place the following process and network features:

Financial Data Security: Process Features

• Non-disclosure / confidentiality agreements
• Audit trails for all system activities
• Access to registered and authorized users only
• Scanning of servers for penetration testing
• Large budget outlays on security

Financial Data Security: Network features

• Total secured CISCO VPN Tunnel to client
• Secured Cisco® Intelligent switches and Cisco® Network Assistant optimized for LAN
• Cisco® PIX® Firewall to block all ports for HTTP, FTP, TCP/IP, UDP and even ICMP
• Virtual Private Network (VPN) protection and Secure Network
• Secure network firewalls
• Technology-driven detections systems
• Secure Encrypted Web Servers and laptops
• Password protected systems
• Biometric Access

Enterprise Access System for Employee Login

• Secure Smart Card and Secure Premises Login
• Network and Windows Login
• PC 'locking'
• Secure Remote Access (VPN)
• Secure email with digital signatures
• Single sign on to enterprise and desktop applications

O2I has also focused on financial IT security policies which have administrative auditing, reporting, and monitoring facilities that guarantee financial data security at every stage. Besides, O2I’s IT infrastructure has routine security features such as virus prevention/cure, spam filers and URL filtering. Workstations are secured individually by anti-virus protection and back-up drive manager.

Despite investments in state-of-the-art financial security devices and systems, our team of information security experts recognizes that the essential agents of security best practices are the individuals who man these work stations. We undertake training reinforcement from time to time to sensitize employees and third party service providers on financial data privacy needs of our clients and on financial data security practices.

Please contact us for further information about O2I's Financial Services and Pricing details.

O2I’s Financial Services

Accounting and Finance Services: Outsource Write-Up, Bookkeeping Services , Accounts Payable, Accounts Receivable, Financial Reporting and Accounts Reconciliation services to O2I for proficient and cost-effective services.

Tax Preparation Services: Outsource Tax Return Processing and Tax Preparation services to O2I and benefit from maximized efficiency and profits. Give your business a competitive edge with our efficient services.

Financial Analysis Services: Outsource Financial Analysis services to O2I for accurate, reliable and competent services delivered within a fast turnaround time. Improve the financial health of your organization with our professional services.

Payroll Processing Services: Outsource Payroll Processing services to O2I to reduce your operational costs by 40-50%. Relieve your organization from mundane administrative tasks. Outsource to O2I and concentrate more on your core business.

Insurance Services: Outsource Life Insurance, Property and Casualty, Annuity Insurance, Insurance Policy Administration, Insurance Agency Management, Insurance Claims Administration and Insurance Data services for increased profits.

Outsourcing to India: Discover Why India is an ideal place to outsource to, Read more on Why Outsourcing has become necessary and find out more on What services can be outsourced to India.