Modernization of legacy technology isn’t just a good idea or the path to marketplace competitiveness. Instead, it’s rapidly becoming the only strategy available to ensure that most companies will be able to compete in the future. Not only are consumers expecting to interact with a fully functional, evolved digital system, but more regulators and watchdogs are requiring the upgrades, too.
In short, modernization may be the only way your organization can remain compliant in the future as your industry regulators themselves compel up-to-the-minute engagement with the continually evolving digital universe. MongoDB can help you do that.
The Biggest Threats Posed by Legacy Tech
Perhaps the biggest reason to modernize your legacy system is that its elements are no longer able to keep your agency safe from criminals or up-to-date with compliance requirements. The rate of cybercrime is rising as criminals learn from past mistakes and exploit as-yet-unnamed vulnerabilities. Additionally, changes in global markets and industries are driving equivalent changes in regulations and standards. Legacy tech wasn’t designed to be able to keep up with the depth, breadth, and scope of these evolutions.
Criminals are Hard at Work
Just four years ago, in 2016, the global cost of cybercrime was estimated at $3 trillion. By 2021, that number will double to $6 trillion, with cyber thieves targeting businesses of every size and in every industrial sector. Those thieves are as diabolically clever as any of today’s top developers, and they are intentionally seeking ways to ferret their way past today’s already high levels of security perimeters, firewalls, and authentication procedures. Just by looking at the rise of losses and damages they cause, it’s clear that the criminals are successful in many, if not most, of their efforts.
And most business leaders are already alert to the challenge posed to their company’s future by evolving cybercrime. According to research by Accenture, nine in ten (90 percent) of surveyed leaders believe a trustworthy and safe digital marketplace is crucial to their organization’s growth and prosperity.
Regulators are Hard at Work, Too
Police and industry overseers are acutely aware of the cybercrime threat, and they, too, are enhancing their agency’s digital security activities and requirements. According to NASCIO (the National Association of State Chief Information Officers), the number one priority for the majority of America’s state-level security administrators is the improvement of cybersecurity capacities to achieve enhanced risk management. Cybercriminals have targeted these government agencies and stolen millions of dollars with successful ransomware attacks. Looking forward, experts anticipate that those ransomware criminals will shift their attention to business applications rather than data, and their aim toward global industries as well as national and state governments. And these ransomware threats are novel – never-before-seen – so they are virtually unstoppable by today’s sophisticated security efforts.
These threats alone are compelling reasons to engage in every possible upgrade and ‘modernization’ strategy; certainly, existing legacy systems have proven defenseless in the face of these emerging cybercrimes.
MongoDB’s Security Suite Keeps Your Enterprise Safe
The developers at MongoDB are ahead of the regulator crowd when it comes to addressing security concerns. The MongoDB suite of security tools is extensive and designed to protect your applications, systems, and databases from unwanted intrusions and interference.
- Safety in Isolation – MongoDB Atlas isolates your data and systems in their own Virtual Private Cloud (VPC), with access granted only by whitelisting or Peering.
- Granular Database Auditing – The DBMS tracks all commands against the database for a granular view into systems activities.
- Encryption at Rest and in Flight – MongoDB’s TLS transport layer automatically encrypts both stored data and network data traffic.
… and Compliant
The second corporate safety concern is compliance – keeping your agency aligned with contractual and industrial rules and standards. MongoDB has your back on this concern, too.
According to KPMG, looking ahead, every business must recognize the unique demands that are facing the conflicted global community; the rise in the level of cybercrime is just one element of the concern. Geopolitical change (such as Brexit) is also changing how your company will operate in other sectors; sometimes, those changes bring with them divergent compliance requirements, too. Your enterprise must be prepared to manage those upheavals while remaining consistently on top of all other standards requirements.
MongoDB understands the broad scope of global regulations and offers its customers best-in-class security and compliance features, ensuring that they can do their work well within any regulatory standards. MongoDB is continually testing its DBMS to verify its compliance (and security and privacy) control, ensuring that that it remains in conformance with today’s regulatory bodies. Industries using the MongoDB are confident that their activities are appropriate according to HIPAA, the GDPR, the SoC, ISO-IEC 27001:2013, and the PCI DSS.
With MongoDB as your database management system, you can rest assured that your organization is both safe from crime and compliant with global standards. If you’re looking at MongoDB as your DBMS, get in touch with us today.
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