With cybersecurity becoming a top concern for investment advisors, a new strategic alliance between Entreda, a developer of integrated cybersecurity software and solutions for the retail wealth management industry, and Docupace, a digital operations platform for digitizing front- and back-office advisory work flows, should aid in securing data.
Scheduled to begin this quarter, the alliance allows Docupace clients one-step access to Entreda's cybersecurity systems. It will provide Docupace "the ability to authenticate users based on their device's cyber risk number while allowing each firm's administrators to trace the real-time cybersecurity status of user devices from the Docupace dashboard," according to the release.
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"Our new partnership with Docupace delivers an incredibly simple yet effective level of cybersecurity to the company's users," said Sid Yenamandra, co-founder and CEO of Entreda, in a statement. "Entreda's Unify platform, and its cyber risk number scoring system, all work seamlessly without getting in the way of the features that financial advisors and their firms have always loved about Docupace."
The alliance also "provides a blueprint" for older, large third-party tech providers to upgrade their cybersecurity, the company said.
Docupace CEO Mark Tapling noted in a statement that "partnering with Entreda helps Docupace customers solve a real business dilemma in managing the requirement for processing and storage security without owning endpoints."
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Ginger Szala
Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. MSJ Northwestern, BA University of Wisconsin-Madison. She is based in Chicago. Go Blackhawks!
