Safe Haven Secure Communications for Banks and Financial Institutes

With comprehensive control and utmost security measures, Wabash powered by Salt enables financial institutions to maintain secure communication consistently.

In the realm of cybersecurity, the financial and banking sector emerges as a prime target for malicious activities. This sector, entrusted with substantial financial assets, becomes a focal point for cybercriminals seeking illicit gains. Of particular concern is the sensitive client data stored within banks, a potential goldmine for perpetrators of fraud and identity theft. Recognizing this, financial institutions are obligated to fortify their defenses to thwart such threats.

Critical to the security paradigm within the financial and banking industry is the robust protection of communications. Safeguarding business and client discussions is essential for maintaining the integrity of financial institutions. Wabash powered by Salt collaborates with global financial institutions, ensuring secure and compliant business continuity plans, even in situations where other systems may be compromised. In the context of regulatory considerations, such as those imposed by the Securities and Exchange Commission (SEC), the deployment of Wabash powered by Salt aligns with stringent requirements for maintaining the confidentiality and integrity of financial communications.

This proactive stance not only safeguards against cyber threats but also contributes to regulatory compliance, mitigating the risk of potential fines and legal repercussions imposed by regulatory authorities. According to a tracker, penalties from the SEC and CFTC totaled $9.2bn in 2023, including 32 fines for insider trading alone. The tracker also highlights that the $4.3bn in penalties handed out by the CFTC was an all-time high, including the joint fine against Wall Street banks over the use of consumer messaging apps, employee communications, and improper record-keeping practices.

Implementing the features of Wabash powered by Salt offers a proactive and robust defense against cyber threats, significantly aiding in the avoidance of potential fines levied by regulatory bodies such as the Securities and Exchange Commission (SEC).

Deploying Wabash powered by Salt into an infrastructure external to the core data center provides added security. By utilizing a system not tightly linked to the active directory, financial institutions can mitigate the risk of unauthorized access and potential breaches. This architectural decision aligns with SEC guidelines, highlighting the importance of secure external systems in safeguarding sensitive financial data.
The secure incident broadcasting capability enables financial institutions to establish an effective incident response function, alerting the community to live issues promptly. Broadcast messages can be generated by trusted external intelligence teams acting on behalf of the community.
Wabash powered by Salt facilitates secure messaging, calls, document transfer, and broadcasts, ensuring seamless, secure employee and client management. This adherence to SEC regulations regarding the protection of client data and communication channels reduces the risk of fines associated with data breaches and compromised client information.
Additionally, where necessary, Wabash powered by Salt can deploy a secure and compliant system on infrastructure owned by the customer. This allows financial organizations to maintain records of communications to fulfill SEC disclosure obligations.

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features include

Secure messaging and calls
Encrypted conference calls
Protected image & file transfers
Versatile deployment choices
Message broadcasting capabilities
Screenshot compliance features
Comprehensive management oversight