Sr. Manager, Demand Generation
Ensuring GLBA compliance in Salesforce application lifecycle management is critical for financial institutions like banks, mortgage lenders, insurance companies, and more. But this isn’t as easy as it may seem.
There are several distinct challenges when it comes to ensuring the protection and privacy of personal information in the release process, which we discuss here. Fortunately, Prodly makes it easy to meet all these requirements—so you can strengthen your security posture and avoid the exposure of sensitive data.
If you’re a financial institution, GLBA compliance is paramount—not only to avoid fines and imprisonment, but also to retain your customers’ trust.
However, the application lifecycle management process in Salesforce is a complex endeavor that often involves multiple teams and environments. As a result, controlling who has access to what data can be extremely complicated and difficult.
There are several aspects of the Salesforce release management process that could potentially be vulnerable to GLBA noncompliance:
Now you know what the potential vulnerabilities are, let’s examine how Prodly helps you maintain the security, confidentiality, and integrity of your customers’ data.
Prodly’s solutions for data are specifically designed with compliance in mind. Here’s how they can help protect your Salesforce ALM from noncompliance.
With Prodly, it’s easy to protect customer data in Salesforce ALM:
GLBA requires you to strictly control who has access to sensitive data. With Prodly, you can set access permissions at the environment level. This provides another level of protection against unauthorized use of data.
GLBA compliance can seem like a huge challenge—but with Prodly, you can tackle the Salesforce release process with confidence. It addresses any potential weak spots within your Salesforce ALM so you can build a rock-solid, GLBA-compliant pipeline. With Prodly, you can easily uphold your promise of trust to your customers—and, at the same time, ensure compliance with the law.
What is GLBA and why is it important?
The Gramm-Leach-Bliley Act (GLBA) is also known as the Financial Services Modernization Act of 1999. It mandates that organizations in the financial services industry must protect the privacy and security of NPI—in other words, customers’ sensitive information. The Safeguards Rule governs the GLBA’s privacy and security requirements. It requires financial institutions to maintain a comprehensive information security program to ensure the security, confidentiality, and integrity of sensitive data.
Who needs to comply with GLBA?
The Safeguards Rule applies to financial organizations ranging from banks, securities firms, and insurance companies to mortgage lenders, credit unions, and payday lenders. The common denominator is the obligation to protect customer information from unauthorized access, use, or disclosure.
What are the penalties for noncompliance with GLBA?
Noncompliance with GLBA can result in severe penalties. Financial institutions can face fines of up to $100,000 for each violation. Their officers and directors can be held personally liable and potentially face civil penalties of up to $10,000, as well as imprisonment for up to five years. On top of this, the fallout of a data breach could result in reputational damage, an erosion of customer trust, and loss of revenue.