When it comes to customer satisfaction and wooing your customer base, security is often the last thing on your mind. That being said, if you don’t have ample security measures to protect customers, they will not give you a second’s notice. In fact, you may only attract fraudulent accounts. In a world where synthetic identity theft is becoming increasingly common, those businesses that do not have an effective risk assessment strategy in place fall victim to fraud, scams, and cyberattacks. Improving your security works to reduce these fraudsters and attacks while simultaneously creating an environment that authentic customers are happy to engage in.
There are many great security features that actually work to improve convenience and confidence in your brand. Not all will suit your business structure, so pick from this list to wow your customers in the way that stands out to you.
Digitizing Standard Processes
There are many processes that were traditionally handled on-site, and many industries have been slow to change. Banking, for example, has been one of the slower industries to innovate, and that is not solely because of a lack of ambition. People want their money secure, which means they need to trust that their money is going where they need it, and, more importantly, that they trust the process that allows for it.
There are several processes in banking that can and have been improved through digitization. Online banking is a must in today’s age, but so too are the standard processes that one would typically have to go to the bank. Instant mobile check deposit is an excellent example of digitizing what was previously a standard process, but its implementation in the past has been plagued with issues like fraud, security, and privacy concerns. With new tools and advanced identification and authentication measures, however, businesses like banks can provide these key services digitally and remotely while still protecting both themselves and their customers.
Assuring Customers of Security Measures
Improving security measures to offer these new digitized processes must have a two-pronged focus. The first is to protect your business. The new, sensitive data that you will be processing must stay secure. It will make your business a huge target for dedicated cybercriminals, and therefore your system must be ready to rebuff any unwanted advances.
The second focus must be on your customers. What assurances can you provide that can assuage their worries? Smart design, biometrics, and encryption are a great place to start, but they won’t always be enough, and the measures that customers look for when deciding if something is worth trusting will continually change – and your business needs to change with it.
Assuring Customers of Privacy Measures
Privacy is another essential component to your efforts at digitizing previously manual processes in your business. There is a fine line between keeping essential information about your customers and saving their every movement. Not only that, but it is your responsibility to purge unnecessary information and to keep them in control of the information that you have on them. Most will be happy to allow you to take the lead, but they must always have executive control.