Award-Winning Endpoint Monitoring and Remediation Suite Provides Added Cyber Protections for Broker-Dealer and RIA Professionals Working Under Residential Quality Internet Connections
Market Leader in Cybersecurity Resources Sees 300% Increase in Demand for Virtual Private Networking and Remote Desktop Solutions from Financial Advisors in 1Q2020
SANTA CLARA, CA – March 25, 2020 – Entreda, the leading developer of integrated cybersecurity software and solutions for the wealth management industry, announced the delivery of its award-winning Endpoint Monitoring and Remediation suite of solutions on a complimentary basis for the first month of use to financial advisors and wealth management firms that are already using the company’s services. Endpoint Monitoring and Remediation is a comprehensive suite of tools and services for use specifically by broker-dealers, RIAs and their affiliated financial advisors to bolster their cyber defenses while working with residential internet services. The offer is part of Entreda’s commitment to support industry-wide coronavirus pandemic response efforts that involve transitioning to a work-from-home model.
Sid Yenamandra, Co-Founder and Chief Executive Officer of Entreda, said, “With financial advisors and other wealth management professionals overwhelmingly working from home as a consequence of the coronavirus pandemic, each broker-dealer and RIA firm’s ability to protect confidential data is only as strong as the weakest link in their remote work chain. Recognizing the heightened risk of cyber breaches when people are working under residential quality Internet connectivity, together with our commitment to supporting the health and safety of financial advisors and other wealth management professionals, Entreda is providing our Endpoint Monitoring and Remediation application on a complementary first month basis to the entire industry. With this award-winning suite of cybersecurity tools, financial advisors who are working from home can do so with the confidence that – regardless of the different residential networks they are using – their data will be safe.”
Endpoint Monitoring and Remediation Suite Details
Entreda is offering the Endpoint Monitoring and Remediation application for free for the first month to existing customers that have at least one device enrolled in the company’s services. If those customers wish to enroll an additional device, the company is offering one additional license for free. The service includes:
- Enterprise-grade Virtual Private Networking (VPN) for desktop and mobile devices
- Secure remote desktop access to connect to office desktops or servers
- Mobile device management to ensure that all devices meet minimum enterprise-grade security standards
- Cybersecurity awareness and phishing testing to heighten workforce awareness of phishing attempts
- CyberRisk Number-based authentication for Google Apps, Salesforce and other cloud applications
Demand growing for products and services to securely facilitate remote work
Entreda has seen demand for its remote work-related products skyrocket in recent weeks, with requests for VPN and secure remote desktop services increasing 300% in the first quarter of 2020 over the same period last year. Approximately 90% of the uptick has happened in the last two weeks.
The rise in demand builds on Entreda’s already-strong position in the marketplace. The 2020 T3/Inside Information Advisor Software Survey in February ranked the company as the leader in cybersecurity resources for financial advisory firms with 5% market share, more than double what it was at the start of 2019.
Entreda’s Endpoint Monitoring and Remediation offer comes as FINRA has advised member firms that, while they may be focused on business resiliency as well as the health and safety of individuals, they should also take extra precautions to protect against cyberattacks that exploit potentially vulnerable residential networks being utilized by work-from-home financial advisors.
Mr. Yenamandra concluded, “Entreda is based in the heart of Silicon Valley, one of the regions of the country most affected by the coronavirus outbreak. We can speak with firsthand experience about how important it is for a business to operate securely while its employees are working remotely.
That’s why firms and advisors who avail themselves of our free cybersecurity solutions are under no obligation whatsoever to extend services beyond the first month. During this time of disruption and anxiety, wealth management firms, their financial advisors and their clients have enough worries. Adjusting to the new normal in terms of cybersecurity is crucially important, and making one of our flagship products available on a free basis throughout the industry is not just a great way to support the industry’s pandemic response efforts – It’s the right thing to do.”
Founded in 2011 with offices in Santa Clara, California, and Birmingham, Alabama, Entreda is the leading provider of comprehensive cybersecurity software, systems and training to the independent financial advice and healthcare industry. Entreda developed its award-winning Cyber Risk Number platform, Unify, to help regulated industries monitor and protect client information and assets with the highest standards of security. Entreda’s senior leadership team has over 100 years of combined experience in cybersecurity technology and 40 years of combined experience in the financial services (RIAs and broker dealers) and healthcare industries. For more information, visit www.entreda.com.