The shift to remote working has triggered an explosion of digital communications challenges for financial services firms - and a corresponding surge in the data privacy risk. As employees send millions of emails and messages across digital collaboration platforms, financial institutions are in a race against time to protect their systems, employees and reputation from the devastating consequences of a data breach.

However, while much of the data privacy focus for FSIs centres around securing end points, the shift to cloud and boosting cyber security measures, research shows that over 90 per cent of data leaks are caused by human error - with emails sent to the wrong recipient one of the most common ways a company can expose itself to risk of GDPR non-compliance and cybercrime. And as the regulators step up scrutiny - and dish out eye watering fines for breaches - many FSIs are fighting an uphill battle to improve employee awareness of the potential costs of making a mistake.

To combat this challenge, many firms are turning to automated data privacy platforms, which use AI and machine learning to scan emails and digital communications for compliance before they are sent with real-time warnings, which can prevent sensitive information from ending up in the wrong hands.

To delve further into these challenges and possible solutions in digital communications risk, FStech was joined by Rick Goud, Chief Information Officer at secure communications provider Zivver.