In business, mobile work is part of our everyday routines. The ability to work from anywhere is no longer the exception – it’s the rule.
The speed, efficiency, and enhanced productivity of mobile access is supremely attractive to time-pressed alternative investors looking for ways to work smarter and faster, especially when on the go. But professionals aren’t the only ones to adapt to the mobile world; so too have bad actors looking for new vulnerabilities to exploit. In Verizon’s 2022 Mobile Security Index, the number of organizations that had recently experienced mobile-related compromise nearly doubled from 2021.
Those investors involved in alternatives (ALTS) deal in highly sensitive financial data that must be protected from growing cybersecurity concerns. Because conducting mobile, cloud-based business is expected to grow even more rapidly, it’s important to evaluate how your ALTS investing mobile platform supports productivity and convenience while keeping security a top priority.
Alternative Investing Mobile App Security Best Practices
Your alternatives investment management platform should enable your team to operate nimbly and securely in a mobile environment. Look for the following features.
Permissions and Security Settings
Remove obstacles and guesswork for team members by ensuring your investment platform’s mobile app automatically transfers security and permission configurations when it’s added to a personal device. This can help ensure security measures like single sign-on and two-factor authentication are used consistently. It also implements field-level permissions that protect data by allowing access to only the data and features relevant to a user’s role.
Dynamo recommends Microsoft InTune to clients using Dynamo Mobile. InTune is an endpoint management system that will immediately apply app protection policies along with compliance and reporting features that support the Zero Trust security model.
Many SaaS FinTechs rely on the cloud to make the features of their investment management platforms more quickly and easily available. To use cloud-based services with confidence, SaaS FinTech partners must address specific security considerations that ensure the confidentiality, integrity, and availability of services.
An experienced SaaS FinTech partner will leverage the security and durability of reputable cloud-hosting partners to deliver its software. Dynamo uses Amazon Web Services (AWS) and Microsoft Azure, accessing the strength of their global footprints and extraordinary security policies to keep client information safe and available. There are dozens of measures in place to keep data online at all times, with inherent redundancies for back-up and seamless operations across a variety of different emergency or disaster scenarios.
It’s important that any company you’re trusting with alternative investment data can back up claims of safety and security. One important way to validate the strength of security practices is through an independent third-party audit.
You won’t have time to conduct your own comprehensive audit, so look for certification from trusted authorities. SOC 2 compliance is one of the foremost sets of industry security standards, developed by the American Institute of CPAs (AICPA). It assesses the security, availability, processing integrity, confidentiality, and privacy of service providers that offer cloud-based or SaaS solutions. The rigorous process is conducted by independent, third-party auditors to evaluate if a provider meets the Trust Services Criteria.
Obtaining SOC 2 certification is a way to confidently demonstrate a SaaS FinTech partner’s commitment to high standards. Dynamo undergoes annual SOC 2 audits and makes the results of its audit available to clients as part of the due diligence process.
An Alternatives Investing Mobile App for Smart and Secure Dealmaking
Work smartly and confidently with a secure mobile app designed to help manage your alternatives investment portfolio from anywhere. Learn more about secure, untethered access to your investment workflows via Dynamo Mobile.
Donna Parent is the Chief Marketing Officer (CMO) at Dynamo Software. Donna is responsible for the corporate brand, demand generation strategies, and go-to-market initiatives for promoting Dynamo’s end-to-end cloud-based platform to the alternatives ecosystem. She is focused on fueling lifelong relationships with consumers, businesses, and strategic partners. Connect with Donna on LinkedIn.