MReport March 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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32 | TH E M R EP O RT FEATURE to develop enhanced technical solutions to manage compliance. The ideal solutions, of course, are the re- sult of partnerships between proven compli- ance experts and technologists. In the words of Nigel Morris, Managing Partner at QED Investors, at a recent conference: it is not the biggest or strongest that wins, but the most adaptable. Security First E very business is at risk of a data hack. It is not a matter of "if" but "when" hackers will attempt to steal and expose data. Adapting to security risks is at the fore - front of fintech and regtech conversations. With the majority of data now housed online, enhanced safety and security, includ- ing proper backup and recovery for disasters or outages and protection against intrusions, is becoming more complicated than ever. It's no longer about building stronger firewalls; it's about figuring out how to encrypt data and secure entry points all while meeting vendor governance guidelines. Users of products and services from Microsoft, Amazon, Apple, and Google recently learned of security vulnerabilities in a wide range of computer chips installed on millions of personal tech devices. While the hardware was the source of the vulnerabil - ity, cloud-based software solutions closed the vulnerability. All it took was an automatic update. Tech giants can reinforce security through application patches with minimal user impact, forced maintenance windows, or required restarts—all through automatic updates. This approach is ideal for financial ser - vices. The wellbeing of financial data depends critically on timely software updates. Securing legacy hardware-based platforms and operating systems from present-day threats has become costly and cumbersome. The more software installed in an organiza - tion, the more systems an IT team must keep up to date and secured. This is especially difficult to coordinate across a complex envi- ronment, such as a national bank. With a single, comprehensive CMS The value of a CMS platform is not simply in its quality guarantee, but also in its ROI potential. By increasing employee productivity, decreasing staff overhead, and preventing eventual compliance fines, it quickly pays for itself over and over again.

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