The Federal Information Security Management Act (FISMA) was meant to regulate and control the use of electronic technologies in order to safeguard information and guarantee information security. FISMA compliance by all enterprises refers to them abiding as per the rules of protecting data and the norms involved in disclosing the same. Meanwhile the Gramm-Leach-Bliley Act of GLBA is an act that protects individuals or enterprises who engage the services of a financial institution. From financial institutions, to loan and debt collectors all come under the purview of the GLBA Act. The act follows that financial institutions have to put in place best security standards to protect their customer’s information from being abused or misused. Therefore financial institutions have to put in place proper compliance procedures in place to fully abide as per the act.
Solutions and requirements for GLBA Compliance
There are plenty of financial institutions who want to put in place compliance procedures that can decrease management costs. The idea is to get compliance solutions that offers centralized repository that can handle and store data efficiently. Also such solutions should also offer best ways to access the same data without any security breaches. Financial institutions should look for solutions wherein they can have better visibility into their compliance status and also be updated about compliance enforcement from time to time. Also such institutions should realize that for easy GLBA compliance they need to ensure that their compliance solution can ensure best ways to manage work flow, control their inventories etc. Matching of compliance signatures also yet another important aspect that compliance solutions need to possess. From sending compliance alerts to tracking and help mitigate risks to providing best audit trails, GLBA compliance solutions need to be well-equipped to meet all the regulations and help make financial institutions GLBA compliant.
Solutions and requirements for FISMA Compliance
When it concerns FISMA, institutions should seek for solutions that can provide them with best ways to not only classify their IT assets but also ensure its complete privacy, reliability and accessibility. The idea is to look for solutions where in assistance can be provided easily to construct safety plans and put in place proper policies and procedures to implement the same. It should help institutions in conducting performance analysis, enable ways to enforce and observe industry standards and controls. Furthermore it should also assist institutions in recognizing risks and providing best access controls by ensuring there are zero ways of disclosure or destruction of data.
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