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This rapid surge in the volumes of finance data being generated by users everyday, also makes it highly vulnerable to cyber attacks and data breaches. Data breaches in the financial service industry are the second most expensive, costing an average of $5.72 million. Small and medium-sized businesses (SMBs) are the worst affected by data breaches, as they account for 42% of all data breaches, and 60% of SMBs shut down within 6 months of a breach. Encryption is a proactive approach to securing your financial data that can shield it at all times.
Encryption Proactively Secures Your Financial Data
Encryption for your financial data acts as the first line of defense against cyber attacks and data breaches, recommended by renowned institutions and organizations like NIST, IBM, and Microsoft. During the encryption process, contents of the files are transformed into an unreadable and undecipherable format using encryption algorithms and cryptographic keys.
The transformation of the files’ contents ensures that only the authorized users who have access to the cryptographic keys can decrypt and access the encrypted files. Encrypted files are also useless in the hands of cyber attackers during a data breach without the specific decryption keys.
Data Security for Your BFSI with AxCrypt
AxCrypt is an award winning file encryption software that protects sensitive financial data and files using the AES-256 algorithm. Use AxCrypt to encrypt and protect transaction records, customer information, financial documents, and more. AxCrypt ensures that your data remains encrypted and inaccessible to unauthorized individuals at all times, safeguarding your organization's privacy and protecting it from cyber attacks and breaches.
AxCrypt has been awarded as the ‘Best Encryption Software’ by PCMag for six consecutive years. AxCrypt is available for Windows, MacOS, iOS, and Android, and can automatically encrypt and sync files to popular cloud storage services like Google Drive, OneDrive, and Dropbox.
Find out how AxCrypt can secure your organization's data today. Try it for free for 30 Days!
Powerful Use Cases with AxCrypt
Protect Confidential Data
Secure highly sensitive and confidential financial documents such as balance sheets, income statements, tax returns, etc.
Safeguard Customer Info
Secure important and sensitive custom information, including PIIs, transaction records, tax filings, etc.
Security Automation
Create one-click automatic data security workflows by enabling automatic encryption of files on desktops and cloud storage providers.