NetSfere is on a roll. The company was recently named by 451 Research S&P Global Market Intelligence as a leading solution for helping major Wall Street Banks avoid the security and compliance issues associated with the use of consumer-grade messaging apps in the workplace. On the heels of that recognition, NetSfere was honored by Frost & Sullivan, a prestigious analyst firm, receiving the 2023 Competitive Strategy Leadership Award for outstanding achievement and superior performance in leadership, technological innovation, customer service and strategic product development.
The 451 Research S&P Global Market Intelligence report details the regulatory ramifications that result when financial institutions turn to consumer-grade messaging apps for workplace communication. Last year, the practice of using these apps resulted in $1.8 billion in combined fines issued to 11 banks by the SEC and the Commodity Futures Trading Commission.
Commenting on the report, Raúl Castanon-Martinez, Senior Analyst – Workforce Collaboration, 451 Research highlighted the problem of employees turning to consumer apps for ease of use without fully understanding the risks they are taking when sharing valuable company IP and a client’s personal data through these channels. As a solution to this issue, “NetSfere has shown that security is paramount, but that users can also collaborate via a secure platform internally and outside of the organization,” Mr. Castanon-Martinez said.
The regulatory fines issued last year in the banking sector shine a spotlight on the bottom line importance of ensuring complete security and compliance in business communication for all companies - especially enterprises in highly regulated sectors like banking. NetSfere’s industry-leading fully encrypted enterprise-grade messaging platform is increasingly being recognized as the solution companies need for seamless communication and collaboration without compromising on security or compliance.
Research and consulting firm Frost & Sullivan recognized NetSfere as best in class in the global secure messaging and solutions industry, honoring the company with the Best Practices 2023 Competitive Strategy Leadership Award. This comes after healthcare organizations, financial institutions and legal entities have been under the microscope, specifically for compliance regulations and the increasing use of BYOD environments. NetSfere is HIPAA and GDPR compliant, reaffirming that no user data is collected and additionally has centralized administrative control of end-user policies and privileges, giving organizations full command over all data.
Designed from the ground up with enterprise level security, NetSfere’s end-to-end encryption, multi-factor authentication, location-based features and administrative controls enable modern business communication without security and compliance risks. NetSfere’s fully featured cloud-based service offers collaborative secure messaging online and on mobile with high-definition audio, video, SecureMeet, and integrations via securely managed APIs.
In a NetSfere press release announcing the award win, Frost & Sullivan Industry Principal Sarah Pavlak said “NetSfere excels in secure messaging solution needs in the financial industry by providing cloud-based messaging solutions that meet full compliance requirements with key legislation and regulatory organizations in the United States, including Sarbanes-Oxley, Dodd-Frank, FINRA, Office of the Comptroller of the Currency, and the SEC”
In today’s anywhere, anytime digital workplace CISOs need to equip employees with the most secure, comprehensive and user friendly messaging solution. The Frost & Sullivan Competitive Strategy Leadership Award highlights the many features and continuing innovation that make NetSfere the best in class solution for securely powering modern business communication and collaboration.
NetSfere’s user-friendly, secure messaging platform supports over 500 million users across industries including law, healthcare and banking. Contact us today to learn more.