In today’s digital-first banking landscape, robust cybersecurity is a given.  But is it enough to simply have strong defenses? A recent Accenture survey reveals that while banks may have made cybersecurity a priority, customers aren’t getting the message.

The findings are stark: while a staggering 85% of bank customers view clear communication about cybersecurity as essential, only 28% believe their bank is delivering on this front.  This communication chasm presents both a significant risk and an opportunity for organizations willing to take the lead.

Traditional methods of communicating about security risks such as static webpages with tips and advice are giving way to more proactive strategies such as providing real-time security alerts and tips within banking apps, providing personalized security scores for customers and even hosting online events such as webinars to educate customers on emerging threats.

The good news is that the survey also showed that despite their desire for more communication, most customers trust their bank with their data… but that trust does not extend to third parties that work with the bank, which highlights the growing importance of a vendor management program in addition to communication.

After years of focusing on cybersecurity itself, it may be time to treat cybersecurity communication with the same seriousness as firewalls and encryption protocols.  By closing the communication gap, embracing proactive messaging, and educating customers about emerging threats, you can not only enhance your security posture but also build more trusting relationships with your customers. In an increasingly competitive market, that trust could be a valuable asset. All in service to making sure our customers stay safe!