As technology evolves, mortgage companies must change their systems, security plans, and business processes in order to meet current and future security challenges. Cloud-based information systems enable companies to manage employees in diverse locations and situations, increase locations with limited infrastructure, and aid in security and data recovery.
With so many data breaches in the news recently, mortgage companies are especially vigilant. A cloud-based information system is one of the most secure ways to manage employees: in the office, at home, and on the road.
Security vs Insecurity
Generally speaking, the more customized a system is, the more secure it is. Richard Feynman, in his autobiography, describes the fact that he was able to hack most safes in the Manhattan Project by entering in the factory default settings. When faced with an issue of security, many people will simply rely on someone else's expertise.
In modern information systems, this is seen in using default security settings, not creating unique passwords for each user, not requiring a certain standard (length, caps and lower case letters, numbers and symbols), or simply creating one password for all personal, business, financial, and other systems.
As data become more and more valuable, mortgage companies become more and more of a target, and must use specialized software for the utmost protection. As an example, a mortgage company won't use Excel as their entire loan management system, likewise, they should not use default windows, Apple, or Droid OS security systems to manage their security.
Many businesses see the use of the cloud as introducing private data to a third party, and therefore highly suspect. While this is understandable, it is false on several levels. Cloud-based delivery systems are protected from anyone except the administrators and managers who set up the account. Additionally, mortgage companies and banks that deal with cash trust their hard assets to an independent security team every day, with limited risk.
Cloud-based data systems store servers apart from your main site, and your servers are housed in secure datacenters which have a dedicated team of IT and physical security experts to monitor, prevent, and correct any security problems which arise. Additionally, a cloud-based system limits the access which any one user or group of users will have to your systems. Each user you set up will only have access to the information required to do their job, preventing the type of data breach caused by a disgruntled employee walking off with all the servers.
Create Freedom With Cloud-Based Mortgage Software
With multiple password logins and software housed entirely on a server, you can set the security and access levels for every employee. This gives mortgage companies the opportunity to utilize freelance and work-from-home employees without taking on the risk of giving them full access to a software system.
A cloud-based mortgage-management system reduces costs in infrastructure and IT, increases security and user-specific functionality, and creates the opportunity to expand and find low-cost employees through telecommuting from home. For more information on the security benefits of a cloud-based mortgage-software solution, please contact us.