The Financial Conduct Authority sets out clear Privacy and Data Protection responsibilities for firms that handle, store, or dispose of customers’ personal data in the course of their business. The FAC states:
“If we find inadequate controls in your firm, we may take action against you.”source: https://www.fca.org.uk/firms/compliance-support
Xsus gives you a wide range of Compliance capabilities already built-in:
- Single source of the truth: keep track of your emails and digital documents, avoiding duplication
- Access controls: controls and measures designed to protect against unauthorised access to customer data:
- System-wide: Microsoft AD integration means you can be sure it is your staff who have access. Optional Multi-Factor Authentication means you can provide a further level of confidence if required.
- granular permission groups at folder and individual document level
- Audit capability: who logged in when, what and when they accessed/viewed/deleted documents
- Activity reports: identify unusual activity patterns, easily review users’ access rights
- Records Management: rich Records Management (RM) options, tag high-risk data, apply retention & classification policies (statutory/business), event triggers, defensible document deletion
- Arm’s-length document access: share documents securely with external parties
- Auditable processes: track and report on any workflow-implemented process
- GDPR: quickly and easily identify all documents containing Personally Identifiable Information (PII) through lightning-fast advanced search capabilities
- System resilience: all systems are hosted in TIW’s private cloud, accessible securely but easily from anywhere
- Data encryption: all data and documents are encrypted in transit and at rest
Adopting TIW’s Xsus platform will help you implement levels of privacy and data security your business requires. Xsus helps you implement controls to minimise the risk that your operation and information assets might be compromised in ways that will scale with your business.