New research shows 80% of consumers cited their bank’s ability to ensure the safety of their financial information as their greatest concern, regardless of demographic.
According to a new survey from Computer Services, a provider of end-to-end financial technology solutions, says results indicate that even ‘digital natives’ who commonly share their information freely are becoming increasingly aware of and focused on the protection of their own financial data.
Specifically, 84% of adults with incomes of $100K or more indicated that the security of their financial information was their greatest concern regarding their bank, as did 85 percent of adults who are college graduates.
While data breaches continue to plague the industry on a day-to-day basis, there are plenty of techniques banks and credit unions can adopt to not only protect themselves and their customers from falling victim to potential attacks, but also prevent customer turnover should an attack occur. The best defense strategy for today’s financial institutions is a two-pronged approach:
• Proactively protect the institution from changing security threats; and
• Develop a plan of action for both prevention and response in case a security breach occurs.
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