Data Security and Compliance
Financial institutions handle highly sensitive information, making data security a top priority. Implementing robust encryption, multi-factor authentication, and secure access controls are essential to protect data. Compliance with regulations such as GDPR (General Data Protection Regulation), PCI DSS (Payment Card Industry Data Security Standard), and SOX (Sarbanes-Oxley Act) is also critical. Regular audits and security assessments help ensure compliance and identify potential vulnerabilities.