Adlib Software Finds Banking & Insurance Customers Rate Sensitive Data Protection as Top Priority During Client Onboarding

Burlington, Ontario, CANADA

TORONTO, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Adlib Software, a global leader in file analytics and data enrichment solutions, today announced survey results that reinforce the importance of personal data protection during client onboarding. According to the survey, customers rate the protection of their sensitive data as top priority when interacting with banks and insurance providers.

  • Forty-seven percent (47%) of respondents said that knowing their sensitive information was secure was their number-one priority when interacting with a bank or insurance company.*
  • Fifty percent (50%) of respondents agreed they would switch to a new bank or insurance company for better data protection.*

The research highlights the importance of data protection during client onboarding as a standard of service—reinforcing the need for robust data security. These findings also echo an increasing focus on sensitive data protection and PII compliance, two hot topics for banking and insurance organizations that struggle to manage the risk associated with large volumes of inaccessible data in unstructured formats (contracts, emails, scanned files, images, etc.). 

To help financial services organizations identify, analyze, and manage data-related business risks, Adlib Software is launching Adlib Protect™, an AI and ML-based solution, designed to help financial services organizations drive data transparency by identifying, analyzing and managing data-related business risks hidden within unstructured formats.

“Adlib Protect™ drives end-to-end data protection by discovering, classifying, extracting, or redacting sensitive data across multiple lines of business at both strategic and executional levels,” says Peter Duff, Chief Product Officer at Adlib Software. “By automating sensitive data discovery and remediation, Adlib enables banks and insurance companies to keep up with current and emerging compliance regulations and government mandates like GDPR and CCPA.”

Click here to learn more about the Adlib Protect™ solution.

*Adlib Software, How Important is Customer Onboarding for Banking and Insurance Customers? (SurveyMonkey: 2019)

About Adlib Software
Adlib has been transforming the way enterprise organizations overcome unstructured content challenges for over 15 years. Our file analytics solutions enable global customers and partners to unlock insights hidden within their unstructured data to support critical decision-making, drive efficient business processes, and secure competitive advantage.

Fahad Muhammad
Senior Director, Marketing & Demand Gen
Adlib Software
Direct: 289-812-7369