“An epic year for data breaches” is how one data security industry publication described 2013, citing examples like the well-chronicled breaches at Target® and Adobe® (American Banker, Naked Security, February 19, 2014). The residual effect: Any industry handling sensitive consumer records took a fresh look at its practices. Likewise, regulators updated their rules about the security practices of third-party vendors.download pdf
We know where data breaches leave businesses and consumers, but where do they leave financial institutions, many of whom supply data to third party vendors on a daily basis? Likely, it leaves many evaluating their own governance, risk, and compliance policies when it comes to how they manage account holder data.
The potential for identity theft has increased astronomically and financial institutions are doing everything they can to build back customer confidence and trust; below are a few great ways to accomplish this in the wake of recent industry breach events. As it turns out, building account holder trust often comes down to customer engagement.
The latest hot topic and important marketing trend that will likely never go away, is the converging of technology and tools to collect and access consumer data. Marketers can now...