The Currency of trust : why banks and insurers must make customer data safer and more secure

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      <subfield code="a">The Currency of trust</subfield>
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      <subfield code="c">Maliha Rashid... [et al.]</subfield>
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      <subfield code="a">Banks and Insurers have reaped a perception dividend on privacy and security issues that other industries have not enjoyed. However, this advantage is under threat as transparency increases and consumers become more aware of breaches that do occur. If organizations do not take proactive steps to enhance security and privacy, consumers will quickly realize that their high levels of trust are perhaps misplaced, with significant consequences for the sector. Banks and insurers should consolidate their position as the trusted custodians of consumer data. They need to reinforce their cybersecurity defense program with state-of-the-art security intelligence and breach detection capabilities. This, however, must be coupled with the right data practices if security investments are to deliver upon their potential. With this integrated approach, banks and insurers can continue to earn their customers' trust and build a winning skillset in a world where the amount of data that flows between them will only increase.</subfield>
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