How Financial Institutions Can Prevent Data Breaches with Enhanced Field Communication Tools

Protecting the financial data of customers and other vital business information is a critical undertaking that requires significant effort. Each time you hear about a data breach, you get demotivated. Is that the problem you are facing? Then you need some motivation and after reading the blog you won’t be afraid after hearing about data breaches because we will discuss a particular platform that will give you the real Armour from data leaks.

Let’s start discussing.

In this tech-driven era, field communication tools are not the odd one. They can be used to safeguard the sensitive information communicated between the departments of an organization and the field workers. These tools are embedded with robust technologies that can help your on-field staff communicate with you safely and quickly without any hassles. Using these tools your financial institution can reduce the chances of a data breach to zero. Want to hear the name of such a tool? It’s MyFieldHeroes (MFH). It’s a tool that establishes a secure connection with your on-field staff delivering financial products or services and your company managers who supervise them. Let’s discuss how your organization can mitigate data breaches using this tool.

Ways Financial Institutions Can Prevent Data Breach Using this Tool

1. Secured Tracking and Visibility

Financial institutions often have employees visiting customer locations. They carry out tasks such as wealth management or loan processing. Normally, it can be difficult to track their whereabouts and ensure they are only visiting authorized locations. Moreover, when field staff visit customers to provide them with information it can be hacked or accidentally exposed to outsiders but with MFH having GPS location tracking features managers can check field agent movements. This allows managers to monitor activity and deter potential unauthorized visits.

2. Secure Communication

Financial discussions and data sharing should never take place over unsecured channels like personal phones or email. MFH offers secure messaging functionalities that allow for encrypted communication between field agents and managers. This eliminates the risk of sensitive information being intercepted by unauthorized parties.

3. Exchanging Information Even When Offline

Financial service representatives often find themselves in areas with limited or no internet connectivity. In that case, they might adopt unsecure methods for data collection leading to data breach. However, MFH is such a tool that addresses this by allowing agents to capture data (photos, notes etc.) offline. The data is then synced securely to the central system as soon as an internet connection becomes available. This mitigates the risk of sensitive information being stored on unsecured devices.

4. Secured Expense Detection and Management

Financial institutions deal with a significant amount of expense reports from field agents. Traditional paper-based processes can be cumbersome and susceptible to fraud. MFH solutions can streamline expense management by allowing agents to upload receipts directly through the mobile app. This allows for faster processing and reduces the risk of paperwork being lost or tampered with.

Winding up

Financial institutions can use field communication tools like MyFieldHeroes (MFH) to mitigate data breaches. MFH offers features like GPS location tracking, secure messaging, offline data capturing and expense management to ensure that sensitive information is communicated and stored securely. With MFH, financial institutions can reduce the chances of data breaches and protect their valuable customer information.

Interesting FAQs

FAQ 1. What is MyFieldHeroes (MFH) and how can it help financial institutions?

MFH is a field communication tool that helps financial institutions secure communication between on-field staff (like wealth managers or loan processors) and managers. It offers features that prevent data breaches, such as secure messaging, GPS tracking, and offline data capture.

FAQ 2. How does MFH prevent data breaches during on-site visits?

MFH provides features like GPS location tracking, allowing managers to monitor field agent movements and deter unauthorized visits. This ensures staff are only at approved locations handling sensitive information.

FAQ 3. How does MFH secure communication of financial data?

MFH replaces unsecured communication channels like personal phones or email with a secure messaging system. Messages are encrypted, eliminating the risk of interception by unauthorized parties.

FAQ 4. What about situations with limited internet access? Can MFH still be secure?

Yes! MFH allows agents to capture data (photos, notes, etc.) even offline. The data is then synced securely to the central system as soon as an internet connection becomes available. This prevents sensitive information from being stored on unsecured devices.

FAQ 5. How can MFH improve expense management and security for financial institutions?

MFH allows agents to upload receipts directly through the mobile app, streamlining expense management and reducing the risk of paperwork being lost, tampered with, or processed fraudulently.