The volatile security scenario is making it necessary for proptech to take a firm stance regarding matters of privacy and data protection.
FREMONT, CA: Technology has empowered several industries extensively, but it has also given rise to security concerns. Lately, the proptech industry has also come under the scrutiny of regulatory firms that are looking to safeguard sensitive data and customer information from security threats. As proptech firms prepare the roadmaps for security, it is essential for them to ensure that substantive measures are taken. Until recently, proptech had not prioritized security much. However, the growing inclusions of advanced, network-backed capabilities necessitate stronger safeguards, better data management, and effective governance.
Proptech firms today offer a range of platforms, services, and solutions. While some of these are in the B2B space, some others are B2C. In both these cases, data protection has significant importance, given the vulnerability of advanced systems to fall prey to cyber threats. Proptech companies that have to build advanced, internet-based platforms that serve as mediums for buyers, renters, house owners, and brokers to connect handle a lot of sensitive information that could be misused. To prevent risk invasions, proptech companies now have to proactively put in place security infrastructure that protects information apart from filtering out potential threats.
The concept of smart buildings has received a lot of attention lately. With a growing focus on environmental sustainability and energy efficiency, proptech companies are now the driving force behind smart buildings. In designing smart buildings, proptech companies often have to include a lot of customizations. Multiple technologies ranging from IoT to AI, find extensive application in creating smart homes. These advanced technologies require customer data to be functional. Thus, proptech companies involved in developing smart buildings accumulate and handle a lot of critical customer information. In the absence of security measures, proptech firms are quite vulnerable to cyber risks.
Analytics is the key for proptech firms to overcome the security hurdles. Proptech firms can monitor and detect potential threats with advanced security solutions provided by leading technology vendors. Additionally, channelizing data networks and incorporating several layers of authentication is also a good way for proptech companies to protect data. Storage facilities also require robust security backing to rule out any chance of privacy concerns from the purview of proptech companies.
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