Convene is trusted by financial institutions around the world who rely on our software to protect their confidential data. Financial organisations play a crucial role in the global economy and cannot afford to take risks when it comes to security.
Though there are numerous advantages to Convene, security stands out as one of the most crucial. With many clients in the financial sector, our state-of-the-art system is designed to guarantee the highest level of compliance and data protection.
Here are a few of the reasons our clients benefit from our advanced security system.
1. Maintain Legal Compliance
Firstly, and perhaps most importantly, it is the law for financial institutions to have an adequate level of security and meet regulatory requirements. According to the GDPR, organisations must ensure they process data with integrity and confidentiality.
Financial service companies must also take into account regional and international legislation regarding their fiduciary duty to customers. Convene is fully-GDPR compliant and is designed to maintain high levels of security.
Not all cybersecurity measures are equal. The highest level of encryption is AES 256-bit standard so you should look out for this when using any software. You should also check for validation such as ISO 27001 for the software and CMMI-Level 5 accreditation for the company - as these demonstrate the software meets external requirements.
2. Ensure Full System Ownership
Convene’s advanced permission settings allow you to control who has access to what information during the meeting. Convene provides full ownership to users which allows them to minimise data risk - as they understand what is being done with their data.
System administrators can assign roles to limit who can view, download, forward, export and print specific meeting agenda items or documents with granular access controls.
As Kye Pearson at London Metal Exchange observed, this level of organisational control is one of the main advantages of Convene over other systems. Kye praised the fact that ‘We have the ability to control people’s permissions’. Consequently ‘by default nobody is able to download anything unless they are an administrator within the Company Secretarial Team.’
3. Improve Admin Processes
Convene is designed to help Boards ensure appropriate security throughout the entire process. Our software supports institutions as they move towards more secure processes and become more secure by design. Risk management becomes far simpler with effective governance.
From the moment your admins begin to compose the agenda, they can be sure documents are protected. Working on a consistent, reliable system means financial institutions can do their due diligence and protect their stakeholder interests. The number of human errors will fall as the system is intuitive and accessible.
With features such as multi-factor authentication and granular access controls, data security will become a part of the financial company culture. Convene’s software saves time and energy in risk assessments. It is so simple that even the most technophobic Board member will have full control of their data.
4. Create a Secure Audit Trail
When you move to a secure solution like Convene, everything is documented. The automated voting information and attendance registers make audit trails simple. Tracking and recording the actions of users, particularly concerning sensitive information, means they cannot misuse this data.
Unlike paper documents, which can be picked up and read by anyone, advanced cybersecurity improves your organisational standards. There is no longer a risk of someone walking into the wrong Board room and discovering your confidential data!
As Christina Giannopoulou at Piraeus Bank noted: ‘Documents can be stored securely in the Document Library within specific folders according to date and document description.’ This means threats can be tackled before they even materialise.
5. Ensure Long-Term Data Protection
Even in the most secure systems, data breaches are a possibility. It is crucial any security system includes appropriate contingency measures to deal with those who have gained access.
In the words of Rob Butterworth at Amadeus: ‘Information security is paramount for us at Amadeus. We use iPads during meetings, and these can be wiped immediately after meetings, so sensitive data can be securely contained. This was always a risk with printed information in paper-based meetings. The move to Convene has heightened security.’
We are committed to supporting your organisation through your journey to better information security. Monitored 24/7, Convene’s detection mechanism alerts the Support Team to any incidents that are then forwarded to the System Team for immediate resolution. Users can also report any incidents via chat, email or phone and our team will be ready to support you.
Convene is an all-in-one Board Portal, designed to digitise and streamline your meeting processes from start-to-finish. Our certified security will ensure your confidential data is protected at every stage of the meeting process.
Our security measures include, but are not limited to:
- AES 256-bit encryption and secure storage
- Granular access controls and role-based permissions
- Document security and digital rights management
- Device security
- Secure user authentication
- Security governance
- 24/7 intrusion detection and prevention
Alongside this, Convene can improve other aspects of your meeting process with our comprehensive range of features. With an Agenda Builder, Document Library, Annotation Tools and Auto-Generated Meeting Minutes, you have the time to focus on providing the best service to your clients in the financial sector.
If you’d like to learn more about how Convene can help your organisation achieve better governance, don't hesitate to book a demo today!