data privacy

The CFPB is finalizing a rule that allows consumers and their representatives to access and share consumer data through secure interfaces. We explain the benefits and challenges of its implementation.

Most customers want personalized experiences, which require CFIs to collect data. But customers are also becoming increasingly concerned about how their data is being used. We discuss best practices around how institutions can collect and use data to gain and retain their customers’ trust.

Data mining has become increasingly important for tailoring products and services to the needs and desires of customers. But not all data is created equal and CFIs should take steps to utilize customer information that others do not have access to.

With 1.15T MB of data being generated each day, data privacy is more important than ever. How can you keep your customers’ data safe? By staying on top of the continuing number of privacy laws and educating your customers on proactively keeping their data from unauthorized users. We walk you through the latest developments.

The average cost of a data breach in the finance industry is estimated to be $5.97MM. Increasingly, financial institutions are using so-called white hat hackers to test the security of their systems. We discuss how they can help you improve your cybersecurity and protect your CFI and customers.

The collection of data is only increasing. By 2025, the world’s collective data repository will reach 175 zettabytes (which is a trillion gigabytes), further necessitating the need for intelligent document processing. We discuss why shared services and intelligent data processing matter to your institution, particularly how they can positively impact your relationships with your customers, employees, auditors, and other stakeholders — and ultimately your bottom line.

Cyber insurance can be part of protecting against digital crime. We discuss how it can protect financial institutions and their customers against financial losses and provide other resources if and when a cyberattack occurs.

Trends in IT spending are constantly changing among CFIs. They also serve as the best roadmap for where the banking industry is heading. We provide an update on the latest investments financial IT teams are prioritizing, including three major trends.