Although virtual private networks (VPN’s) can enhance every company that uses its service, there are certain industries where their use is critical.
Due to the VPN’s ability to secure data, companies that don’t use one are at an increased risk of a having a data breach. When breaches occur, clients can begin to distrust your services and look to alternative providers which can result in reduced earnings from lost sales.
The most important industries that need to use a VPN to protect confidential information include: banking institutions, insurance companies, telecommunication, and online retailers that hold valuable client information. If you’re unsure how these industries will benefit from a VPN, continue reading below where its importance is described in detail.
1. Banking Institutions
It’s critical that all financial and banking institutions use a VPN server to store data given how sensitive the information is. Without the use of a VPN server bank branches are at an increased risk of having their client’s personal information accessed. This can result in costly fines and payments if hackers that are able to acquire personal bank accounts and make fraudulent purchases with it.
When clients become aware of the hack, it will inevitably result in distrust leading them to move their account to another institution. This can result in a loss of profits from lost clients that could have been avoided by using a secure network to combat against the possibility of a hack.
2. Insurance Companies
Another institution that should use a reliable VPN server are insurance companies. It’s important for insurance companies to use a secure network given how personal and invasive their company records may be. If this information was to be accessed by an outside source their clients are at risk of having personal information exposed that can be used against them in the future.
For example: certain medical ailments and prior convictions can inhibit a person from being approved for a loan or being approved for additional coverage. To prevent this personal information from being accessed every insurance company should use a VPN server for their company websites and electronic storage needs.
3. Online Stores
Regardless of how large the online retailer is, every online shop should rely on a VPN server to manage the website. Without a dedicated server to maintain the information, valuable details including client names, credit card numbers, and bank account information may be at risk.
If the website is hacked, clients that had their information stolen will inevitably be upset with the retailer and form a distrust of the brand. Ultimately, this can impact the store’s ability to expand because of declining sales.
4. Telecommuting and Remote Businesses
Companies that specialize in telecommunication should also consider using a VPM server to secure their company data. Without the use of a VPN server international companies will be at a greater risk of a breach because workers will need to access information on multiple networks.
If a network is being used to access company accounts and its unsecure then private information will be made available to others on it. This can result in a breach if a remote worker uses an unsecure network without a VPN because others will be able to monitor their movement while on it. This enables hackers to gain access to company files that contain personal or incriminating information about the business. It’s important to note that the risk of accidently using an unsecure network increases for companies that have multiple offices, remote workers or virtual employee’s that cannot always be monitored which is why a VPN is critical.
