The Gramm-Leach-Bliley Act is aimed at financial institutions and is enforced by eight separate federal agencies and the states. Gramm-Leach-Bliley provides for a fairly broad interpretation of the phrase "financial institution" and not only affects banks, insurance companies, and security firms, but also brokers, lenders, tax preparers, and real estate settlement companies, among others.
One major component of Gramm-Leach-Bliley requires that safeguards be in place to protect your customers' private financial information.
Another section of Gramm-Leach-Bliley indicates that institutions must "develop, implement, and maintain a comprehensive written information security program that contains administrative, technical, and physical safeguards that are appropriate to the size and complexity of the entity, the nature and scope of its activities, and the sensitivity of any customer information."
RenovoData offers a complete online backup and disaster recovery solution to financial institutions which provides for the peace of mind knowing that their data is always secure.