How do Secure Print Solutions Benefit the Financial Sector?

Today, Digital Transformation (DX) has revolutionized the way customers and businesses manage their finances. There is a critical need for robust security measures in every aspect of financial operations. According to IBM’s 2021 Cost of a Data Breach Report, data breaches in the financial industry have the second-highest impact on costs, the first being the healthcare sector

Digital Transformation (DX) has revolutionized the way financial stakeholders manage their operations, with a heightened emphasis on security and efficiency. Despite stringent data security regulations, traditional printing practices remain vulnerable to breaches, posing significant risks to confidential information. The banking and financial industry are often targets even though there are high-level data security regulations to help safeguard customer data and avoid data breach threats. Major data breaches in recent years have brought about a renewed focus on the implementation of improved security measures. However, when considering enhanced security, printers and copiers are often overlooked. Traditional printing does not have robust security mechanisms to secure data. Such outdated printing practices often result in misdirected print jobs and lost documents, which increases the demand for secure print solutions. Furthermore, access to confidential documents by unauthorized personnel is a high-risk factor in financial organizations. By 2022, the average cost of global data breach in the financial sector rose to USD 5.97 million, from USD 5.72 million in 2021.

How to Resolve Printing Challenges and Security Issues in the Financial Services Industry

Any financial stakeholder should explore modern-day print solutions to overcome security issues, right at the onset of the digital transformation journey. Secure printing solutions provide an extra layer of protection by enabling user authentication before printing any document.

It is possible to significantly reduce printing costs while maintaining high-security standards with secure print solutions. Every print job is sent to the intended printer and remains secure till authenticated. This completely does away with the possibility of sensitive documents being left unsupervised at the printer thereby reducing the chances of data misuse, and paper and toner wastage. Printing only happens when the authorized user is present to collect them.

How Managed Print Services can help the Financial Sector?

Managed print services are the ideal solution to streamlining organizational printing needs, optimize existing and new print infrastructure to improve productivity, reduce costs, and ensure document security with full support and service across India.

Banks and financial institutions looking for cost-effective ways to protect their printed documents should consider Managed Print Services. Secure Managed Print Services provide an extra layer of protection by implementing user authentication before printing any document. This advanced security measure mitigates the risk of unauthorized access to confidential information, safeguarding against potential data breaches. 

The advantages of managed print services include hassle-free maintenance, remote monitoring and tracking and even a reduced carbon footprint.

Significant Features of Smart Managed Print Services

You never have to worry about a printing emergency with managed print services. Printer jams, toner ink replacements, device repairs and such troubleshooting issues are handled efficiently for smooth operations.

1. Secure Print: By incorporating built-in features like PIN codes, staff cards, and biometrics, smart managed print services ensure that access to vital documents is restricted to authorized users only. Creating custom access rules to enhance security around printing is also possible with smart managed print services.
2. Green Print: Managed print services are the perfect solution for businesses focusing on sustainability as the smart digital printing process enables to reduce environmental impact, ensure security, and save resources such as paper, ink, and electricity.
3. Centralized Print Management: With smart managed print services, you can streamline handling multi-site printing needs and complex jobs. Enjoy enterprise-wide control and monitoring through a powerful solution that authenticates users and regulates volumes for multiple print devices.
4. Reduce Printing Costs: Managed Print Services facilitate reducing print expenditure even up to 30%. With robust monitoring and optimizing capabilities, you will need fewer printers and fewer resources.

Wepsol’s fluidPrint Managed Print Services

With a brand-agnostic approach,  Wepsol’s fluidPrint Managed Print Services has enabled many organizations to optimize their print infrastructure, resulting in improved productivity, security, and cost savings.

These services ensure security and maximum uptime for printers yet remain affordable.

Benefits of Wepsol Managed Print Services

With Wepsol’s secure printing solutions, businesses can ensure safety and reduce costs by eliminating printing waste. This solution provides mobile, email, and digital printing capabilities that streamline operations. In addition, businesses benefit from premium security, better printer management, protection of the environment and better data control.

1. Custom Solutions: Tailored solutions to cut CAPEX and optimize print infrastructure.
2. Device Monitoring: Advanced monitoring tools for efficient printer management.
3. Secure Printing: Enhanced security measures to protect sensitive print data.
4. Access Control: Ensuring that personal documents reach authorized individuals only.
5. Efficiency Enhancements: Minimizing waste printing and optimizing resource usage.
6. Load Balancing: Distributing printing tasks efficiently for enhanced productivity.
7. Centralized Tracking: Monitoring usage and managing print activities from a central location.
8. Resource Conservation: Saving paper, toner, and electricity through efficient printing practices.
9. Contactless Printing: Enabling secure printing without physical contact.
10. Follow Me Print: Providing flexible printing options for enhanced convenience.

Wepsol’s fluidPrint Secure Print Solutions

Our secure managed print solutions offer an additional layer of security by requiring users to authenticate their identity before printing. This proximity-based printing approach not only enhances security but also improves efficiency and compliance with regulatory requirements.

In conclusion, wepsol’s commitment to providing industry-leading secure printing solutions has empowered numerous organizations in the financial sector to enhance security, reduce costs, and streamline printing operations. By leveraging fluidPrint’s innovative technologies and comprehensive managed print services, businesses can achieve unprecedented levels of efficiency and security in their printing infrastructure, positioning themselves as leaders in the digital era of financial services.