The high-stakes world of digital finance is already brimming with risk. The last thing we need is a data leak at a bank, investment firm, or real estate investment trust. Taking a data breach on the chin is easily one of the most expensive mistakes that can be made — data leaks cost us billions of dollars a year on their own — luckily, they’re incredibly inexpensive and relatively simple to avoid. Cloud storage and sharing solutions have been taking the internet by storm. As files get larger and data becomes more valuable, cloud storage has stepped up to the plate in stride.
Protecting Privacy With Cloud-Based Storage
Above anything else, your clients deserve privacy. Clients are the lifeblood of any industry, and if trust can’t be built between a client and a firm, then any potential contract will be dead on arrival. Cloud storage systems have been building privacy into the foundations of their services. Many of the big tech players have built their businesses on scraping every byte of data possible, but many, more bespoke, solutions have bucked that trend.
Software services like AXEL Go have never and will never buy or sell user data. This promise is the first step toward building and maintaining a truly secure storage system. By ensuring total privacy, AXEL Go is able to plug up many of the common security holes that Big Tech’s lax security philosophy has dug for its users.
A prime example of this increased security is our approach to encryption keys. In a truly private ecosystem, encryption keys are only given to users and authorized file recipients. A compromised Big Tech security system has inbuilt back doors and “emergency” encryption keys. On its face, this is done to give users peace of mind in the unlikely event that they’ve encrypted themselves out of their own data. In practice, this has only opened users up to data breaches.
How Cloud-Based Storage Provides Financial Data Security
Security is about more than protecting the privacy of users and their clients. Storage server structure, security methods, and user experience considerations all play a role in building a safe solution for handling client financial data.
Many storage solutions rely on centralized servers. A centralized server structure is a lot like a supercomputer. These are massive warehouses of connected computers that operate at blistering speeds to protect and distribute files when called upon. They are convenient cloud solutions that are fine enough in most cases, but they come with the risk of familiarity.
Bad actors are used to breaching centralized servers. A decentralized alternative, however, offers all of the functionality of its centralized counterpart with the added benefit of increased security. Decentralized servers do not rely on the proximity or cooperation of every machine in a network. Instead, every computer in a decentralized server holds bits and pieces of data, some holding only backup data. This approach gives users of a decentralized storage service increased reliability by refusing to rely on a single node for service. They also enjoy the inbuilt redundancies, reducing the odds of a service blackout or data corruption.
Combining decentralized storage with high-end encryption and privacy leaves users with a more secure and reliable method of storage. All of this would be for nothing if usability does not enter the equation.
Protecting Clients With Clean UX Design
AXEL Go sets itself apart from other security-focused storage services by putting user experience at the forefront. All of the security in the world is worth nothing if our colleagues and clients are unable to take advantage of it.
With AXEL Go, storing the financial data of your clients is as simple as using your personal computer. Link-based shares give clients simple, reliable access to the files they need while promising a more secure user experience.
The AXEL Go difference is immediately apparent. Try our secure storage and sharing solution for free today and see how you can protect your client’s financial data without lifting a finger.