Protecting your data: finao's commitment to comprehensive security

In today’s increasingly digital and interconnected world, the threat landscape for businesses continues to evolve. Data breaches, ransomware attacks, and unauthorised access can disrupt operations, damage reputations, and incur significant costs. At finao, we understand that your business data is more than just information - It is a critical asset that must be protected at all costs.

By adopting a multi-layered approach to data security, we align with globally recognised best practices and standards to safeguard your information. Our approach is grounded in the CIA triad (Confidentiality, Integrity, and Availability) ensuring your data is protected, accurate, and accessible when you need it.

Why data security matters now more than ever

The rising cost of cyber incidents

According to IBM’s 2024 Cost of a Data Breach Report, the average global cost of a data breach reached $4.88 million, with organisations in sectors like healthcare and finance experiencing even higher losses. In addition to financial repercussions, businesses risk losing customer trust, incurring regulatory fines, and suffering operational downtime.

Evolving threats and increasing regulations

The rapid pace of technology adoption (cloud computing, remote work, and IoT) has expanded attack surfaces for businesses. Meanwhile, regulatory frameworks like the General Data Protection Regulation (GDPR) and the Australian Privacy Act 1988 enforce stringent requirements for data handling and security. Non-compliance can lead to substantial penalties.

A shared responsibility

Data security is not only about protecting systems but also fostering a culture of vigilance among all stakeholders. finao helps businesses address this shared responsibility by providing robust tools and processes that protect your data without compromising usability.

How finao secures your data

Confidentiality: Ensuring restricted access

We implement strict 'Permission of Least Privilege' (POLP) policies, granting access only to authorised personnel. Our Identity and Access Management (IAM) protocols further segregate and control access to our infrastructure. Custom permissions allow system administrators to define user access levels, ensuring data is accessible only to those who need it. All data is encrypted, and access requires secure credentials coupled with two-factor authentication (2FA).

Integrity: Maintaining Data Accuracy

To uphold data integrity, we minimise free-form data entry, utilising dropdowns, radio buttons, and field restrictions to ensure consistency. Inline validation checks data as it's entered, and permissions control who can edit information. Form rules can prevent data modification after certain stages, and version control maintains a history of changes for audit purposes. Automated monitoring safeguards data, with backups retained for 30 days.

Availability: Ensuring Continuous Access

Our systems operate on dedicated private clouds with multiple servers, load balancers, and hourly backups, ensuring high availability. Regular software patching and system upgrades keep our infrastructure robust. We maintain and test comprehensive disaster recovery and business continuity plans to ensure uninterrupted service.

Building trust through industry standards

Our security practices align with globally recognised standards, including:

• ISO 27001: International standard for information security management.
• NIST Cybersecurity Framework: Guidance on managing and reducing cybersecurity risks.
• SOC 2 Compliance: Ensures systems are designed with stringent security, availability, and confidentiality criteria.

These frameworks guide our processes and provide assurance that your data is in safe hands.

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Partner with finao for peace of mind

Data security is no longer optional, it is a business imperative. finao delivers robust security solutions designed to protect your data while supporting your operational goals. From enforcing confidentiality to maintaining data integrity and ensuring availability, we are your trusted partner in safeguarding your most valuable asset.

Contact us today to learn more about our security practices or visit our Trust Centre for detailed information. With finao, you can focus on growing your business, knowing your data is secure.

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‍Remember, system and data security is everyone's responsibility.

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