Until as recently as one year ago, banks denied even using cloud apps. Today we know that’s a far cry from the truth, as they find they have an average of 690 apps per enterprise, with 91 percent of them not meeting critical security standards. But do financial institutions have a handle on data being shared and accessed across the organization?

Truthfully, they’ve just begun to scratch the surface of locating sensitive data located in these apps. In financial enterprises, for every 100 files scanned in sanctioned cloud storage and file-sharing apps, six are found to contain previously-unknown sensitive data, including personally-identifiable information (PII), payment card industry information (PCI) and protected health information (PHI).

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