Security and compliance are common concerns for IT leaders in the financial services industry — but over the last few years, they’ve become top priorities, with businesses facing a significant spike in cybersecurity threats.

Given the rise of the hybrid workplace, mobile devices and tablets allow employees to stay connected, whether they are in the office, out in the field or meeting with customers. However, financial services companies are subject to a range of regulatory requirements around data protection and security on their devices. This puts extra pressure on financial firms to secure their data, enforce IT policies and protect those devices against malicious actors and threats.

Still, research shows that about 25% of malware attacks target financial services companies. In 2023, 64% of IT and cybersecurity professionals in the financial industry were hit by ransomware. With many financial workers now splitting their working days between the office, home and client visits, IT leaders and their teams are facing increased pressure to secure mobile devices regardless of where they are.

Samsung Knox, which is built into Samsung Galaxy mobile devices, tablets and wearables, protects business data for financial services and other regulated industries with government-grade protection. Samsung Knox offers mobile security, unified endpoint management, and fraud and theft protection to businesses. The platform is trusted for robust, government-grade security, with its defense starting at the hardware level and continuing to protect against the most advanced security threats.

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Secure, deploy and manage data with Samsung Knox

IT leaders can use Samsung Knox Suite to manage various devices from a central location and a single user interface. The powerful enterprise mobility solutions enable teams to secure, deploy, manage and analyze data from corporate devices throughout the enterprise mobility lifecycle.

  • Secure: Take advantage of advanced security management features that help businesses comply with stringent security requirements, offering advanced encryption technologies and government-grade protection.
  • Deploy: Enjoy easier enrollment, with the ability to enroll corporate devices in enterprise mobility management (EMM) systems automatically and securely, right out of the box.
  • Manage: Manage devices easily with remote support, intuitive onboarding, a seamless user experience and tools that fit both the office and the field.
  • Analyze: Remotely gain insight into device health and data control, no matter where your employees use their devices.

Knox’s unified endpoint management effectively saves IT teams time and resources. They can deploy thousands of devices simultaneously, push updates, gather data analytics, and track, monitor and support field workers in a remote setting.

For mobile security, regulated industries like healthcare are equipped with Samsung Knox Suite and use devices like Samsung Galaxy Tab S9+ to remotely access electronic health records in locations such as client homes. Samsung Knox Configure can help these organizations protect against internal threats and better manage their fleet of devices.

Unique benefits of Samsung Knox for financial services

Samsung Knox protects the financial services workforce that is increasingly going mobile, whether that’s a financial advisor meeting with a client in their home using a Galaxy Z Fold5, an insurance claims adjuster out in the field working off a Galaxy Tab Active5 or a bank associate on a branch floor receiving alerts on their Galaxy Watch6. With its latest devices — including Galaxy S24 and Galaxy Z Fold5 — Samsung has leveled up its device protection with a secure processor dedicated to protecting your PIN, password, pattern and blockchain private key.

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While on the go and working remotely, it’s common for finance employees to want to run apps and store content for personal use in addition to accessing business applications and data. Instead of device use policies that prohibit or limit employees’ use of particular apps and content, Knox Platform for Enterprise offers features that isolate and encrypt business apps and data in containers to help protect from employee behavior. For example, by deploying a separate enterprise container, administrators can ensure enterprise data is protected against malicious apps inadvertently downloaded from third-party marketplaces and reduce the risk of data leakage. If an employee leaves the organization, the managed Work Profile allows remote wipe tools to erase the business partition, while leaving personal content and apps untouched. Devices with enterprise data can also be remotely wiped if lost or stolen.

Remote device health attestation lets you check device integrity across your fleet and detect rooting, device ID tampering and more. Advanced encryption technologies such as DualDARSensitive Data Protection (SDP) and one-click Common Criteria Mode provide extra security against threats. Data in transit is protected by advanced network security features with Knox VPN, an on-demand firewall and a secure browser.

With Knox, financial services companies can:

  • Secure devices throughout the EMM journey.
  • Streamline deployment to set up thousands of devices with ease.
  • Simplify device management with Samsung Knox and Android Enterprise.

The ultimate pair for productivity and protection

Samsung and Android work closely together to provide enterprises with the most reliable and secure mobile experience possible. Since joining forces over a decade ago, the partnership has addressed the most pressing challenges businesses face today: maintaining productivity, protecting the workforce and offering flexibility.

Specifically, over the past several years, Samsung and Android have partnered to:

  • Harmonize Android Enterprise and Samsung Knox Platform for Enterprise to offer a seamless experience for Android customers seeking Samsung’s advanced security and device management capabilities.
  • Synchronize mobile device enrollment services (Android zero-touch enrollment and Knox Mobile Enrollment) to offer a variety of services that help streamline the employee onboarding experience and re-deployment of devices.

Android’s core security foundation, combined with Samsung Knox’s hardware-based protection and advanced real-time protection, addresses today’s most demanding security challenges — especially in an industry like financial services. The flexible platform and comprehensive set of Android Enterprise management APIs address every device use case, from locked down to open use. Admins can also enjoy granular controls of devices in this highly regulated industry. With Samsung Knox, IT teams can easily enroll devices, build the required profiles, manage applications and support employees through remote access sessions.

For a full overview of all Samsung technology solutions for the Finance industry, please visit this pageAnd sign up for a Samsung Business Account to get exclusive offers, including volume pricing discounts, on our Rugged devices, as well as our newest devices like Galaxy S24 Series and Galaxy Z Fold5.

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Jeannine DeFoe

Jeannine DeFoe is an experienced financial writer, specializing in wealth management. fintech and personal finance, and how technology helps financial firms. A former reporter, she now creates articles, case studies and more for numerous leading wealth firms and fintechs.

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