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How Proptech Firms can Achieve Security

Enterprise Technology Review | Friday, November 22, 2019

Proptech businesses must now proactively set up a security framework that protects data along with filtering out potential threats to prevent risk invasions.

FERMONT, CA:  Technology has given vast use cases to several industries, but it has also given rise to security concerns. The proptech sector has also recently been subject to scrutiny by regulatory firms seeking to protect sensitive data and customer information from security threats. When proptech firms plan roadmaps for security, ensuring that concrete action is taken essentially for them to. Proptech had not given much priority to security until recently. The increasing inclusion of advanced, network-backed capabilities, however, requires stronger safeguards, better data management, and effective management.

Today, Proptech businesses offer a variety of channels, products, and solutions. Although some of these are in the space of the B2B, some are B2C. Considering the vulnerability of advanced systems to fall prey to cyber threats, data protection is of significant importance in both cases. Proptech companies need to develop innovative, internet-based networks that serve as media to connect consumers, landlords, tenants, and brokers to manage a lot of sensitive data that might be misused.

Much attention has been paid to the concept of smart buildings lately. Proptech companies are now the driving force behind smart buildings, with a growing focus on environmental sustainability and energy efficiency. Proptech companies also have to include a number of customizations when constructing smart buildings. In the creation of smart homes, multiple technologies ranging from IoT to AI can find extensive applications. Such advanced techniques include the usability of customer data. Therefore, a lot of valuable customer information is gathered and managed by proptech companies involved in the development of smart buildings. Proptech companies are quite vulnerable to cyber threats in the absence of security measures.

Analytics is the key to solving the security challenges for proptech firms. With advanced security solutions offered by leading technology providers, Proptech companies can track and identify potential threats. In addition, channelizing data networks and adding multiple layers of encryption is also an excellent way to protect data for proptech businesses. Storage facilities also require robust security backing to exclude from the purview of proptech companies any chance of privacy concerns.