Almost half of consumers said they would look to switch banks if they suffered a cyberattack, and a similar amount (47%) said they would lose complete trust in their bank if this happened. Around 73% of banking customers see security as one of the most crucial factors in helping them decide with whom to bank, and 42% stated that a bank’s reputation for being highly secure was also an important factor in the decision behind who they trust with their financial data.
Clayton Locke, Chief Technology Officer of Intelligent Environments, said that o European retail bank has attack-aware security built into their business applications. Almost all security tools today are looking at the network and perimeter infrastructure – yet experience shows that hackers eventually find a way through these perimeter defences.
Importantly, it’s not just current clients of banks need to be aware of, it’s also limiting new customers, who are notably precautious in today’s unstable security environment.
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