Password manager for finance companies – a necessity?

The finance sector is among the main targets of cybercriminals. Finance companies are 300 times more likely to be victims of cyberattacks than other sectors. This industry also faces the highest cost of cybercrime.

The most recent data shows that the weakest link in the financial sector security is passwords. Credential stuffing and brute force attacks, recycled passwords, and poor data management practices are the main reasons behind costly cyber threats.

Password manager for finance companies is not a nice-to-have anymore. It is a necessity.

A reliable password manager can protect the company from financial and reputation damage. Here’s why and how.

How can a password manager for finance companies prevent cyber attacks?

Finance companies are highly prone to cyber threats. Statistically, 77% of employees working in the finance sector reuse passwords at their workplace. 69% of financial institutions globally have experienced a cyber attack.

Yet, the majority of these attacks can be prevented. A reliable password manager for finance companies is the easiest and most cost-effective solution.

Such a tool helps build good password management habits among the employees and minimizes the risk of cyberattacks. Here’s how.

Automatized password creation

A reliable password manager for finance companies provides automated and secure password creation.

The tool encourages employees to use unique and complex passwords for each system and account. Autosaving and auto-filling features fully replace the need to reuse passwords.

Cross-platform usage ensures that your employees can reach their credentials wherever they are. This is especially relevant for remotely working part of the team.

A password manager makes good password habits intuitive.

Strong security requirements

A password manager for finance companies follows a high-level security standard. All companies’ and clients’ passwords are stored in a secure vault and protected with military-grade encryption protocols.

Zero-knowledge proof (a safety standard that ensures no data can be revealed) strengthens a data protection level. This protects internal data from unauthorized access (including hackers).

Encrypted data sharing

A password manager provides a secure way to share data inside the company and with external business clients.

If you have a business partner or a client who needs to share credentials with you, you can do it safely by adding them to a password manager as guests. This feature highly increases the security of external collaboration and strengthens your business reputation and trustworthiness.

PassCamp – your ideal partner in password management

PassCamp is a perfect password manager for finance companies.

This innovative and globally recognized password management solution can solve weak links in your company’s data management.

Having implemented hundreds of successful integrations, PassCamp’s team can offer you a customized solution that fits industry-specific needs.

Gain a foothold in the finance sector. Contact our team today and protect your company from costly cyber threats in the upcoming future.