The Nexus of Fintech Cybersecurity & Customer Experience

February 5, 2021
The Nexus of Fintech Cybersecurity & Customer Experience

As a fintech company, you have one job: to keep your clients’ money and valuables safe. But how will you do that if you can’t secure your company’s data? Whether you are an experienced firm or just starting up, fintech cybersecurity is an essential part of your business. You can only run away from this fact at your company’s peril. 

To keep up with the latest trends in customer experience (CX), you should put cybersecurity for fintech at the core of your strategy – not at the periphery. But how does cybersecurity improve your customers’ overall experience?

Enhancing fintech cybersecurity boosts your business reputation increasing customer’s loyalty and brand’s image. It’s simple: when your customers feel that their valuables are safe with you, their overall experience with your platform improves. And what makes them feel safe? When there are minimal cases of loss of property or data leakage from your end people will easily trust your services. Here are simple ways that you can enhance customer experience through cybersecurity.

How Can a Company Improve Its Cybersecurity

Cybersecurity for fintech is a determiner of whether your customers feel safe using your platform. This is true given that a breach in a fintech’s data can be the loophole a hacker needs to access your clients’ data. To make your customers feel safe, you can do the following cybersecurity solutions.

  • Make Your Clients Aware of What You Are Doing to Keep Them Secure

If you don’t communicate the steps you are taking towards ensuring the security of your clients’ data, how will they know that cybersecurity is at the core of your operation? Do you regularly test your platform for safety, or use the latest fintech cybersecurity applications? Tell your customers about it. Do you regularly vet your staff and train them on the importance of cybersecurity? Tell your clients. When customers know that you are looking out for them, they will feel secure when using your services.

You can also make your clients aware of the staff responsible for cybersecurity for fintech, and why they are best placed to protect their valuables.

  • Educate Your Customers on Fintech Cybersecurity

Educate Your Customers on Fintech Cybersecurity

Of course, educating your customers on how they can stay safe while using your services does not mean that you train them how to create new cybersecurity for fintech code. That will be exaggerating it, don’t you think?

It means that they know the basics of how their behavior increases or decreases their security when operating on your websites. Customers who are aware of the consequences of their actions will not only feel safer on your platform. It will also help you to maintain your cybersecurity.

  • Regularly Use Your Platform as a Customer Would Evaluate Customer Experience

Try accessing your account like a customer who has forgotten their password. Does the security requirements of recovering a lost password make you feel safe? If not, you should introduce two-factor verification to bolster the fintech cybersecurity of your company.

What is even more, pay a hacker – okay an ethical hacker – to evaluate the loopholes available in your platform and then correct them. You should be careful with the people you allow to interact with your platform, lest you put your fintech cybersecurity at risk.

  • Train Your Staff on Cybersecurity for Fintech

When you train your workforce about fintech cybersecurity, you’re building a team that will recognize phishing emails and other cyber attacks with ease. Your staff should understand the ultimate consequences of a security breach. Everyone in your team should understand why the information they hold is confidential and can lead to the downfall of the company or even jail terms for you (and them too).

While we are still talking about your staff, how well do you vet your staff? If one bad seed infiltrates your system, it would be detrimental to your fintech services and your customer’s experience. 

Alternative Fintech Cybersecurity Solution (Managed Cyber Security Services)

Alternative Fintech Cybersecurity Solution

Take care of fintech cybersecurity with professionals who have experience in data security in the field of fintech. When you let an offshore cybersecurity team handle your fintech project, you will not only get the best pool of talents, but also the latest cybersecurity for fintech systems. You will also make time to concentrate on other aspects of your core business and save money.

Are you looking for a team of experienced providers of cybersecurity for fintech systems? Israel IT has dedicated offshore teams with a wide experience developing business applications and game development services. Pay attention to the development of a fintech platform from Israel IT for Levent, where a special place was occupied by data security and ease of use of the platform for users. Contact us so that you can learn more about our app/platform/web development services and how we build apps using multi-layered security systems.

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