Pub. 9 2019-2020 Issue 3

14 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S www.coloradobankers.org T oday’s consumers are inundated with troubling cybersecurity news, on practically a daily basis. When word of the Capital One data breach broke, consumers again were left scrambling to figure out if their personal information was included in the 106 million exposed records. They are weary, to say the least. So, how can financial institutions help restore their peace of mind? To find out, CSI polled more than 2,000 American consumers about the cybersecurity threats and challenges surrounding them and their financial institutions. The result? Consumers (unsurprisingly) want to know how to better protect themselves, and are quite open to their bank showing them how. Almost three- fourths (74 percent) said that they would likely participate in a cybersecurity awareness program if offered by their financial institution. This insight presents banks with a tremendous, inexpensive opportunity to increase their value and retain more customers. If You Host It, Customers Will Come Per our poll, consumers ages 18 to 44 are themost likely (75 percent) to attend a bank-sponsored cybersecurity education program, and interest from those age 45 and older is close behind (73 percent). So if your institution hosts a cybersecurity awareness program, people will come. By doing so, you create a win-win for consumers and your institution. 2,000 Consumers Told Us Their Worst Cybersecurity Fears – Here’s what you can do to help your customers conquer their concerns BY STEVE SANDERS Here are just a few of the benefits: • Bolster your institution’s reputation as an active corporate citizen • Increase the potential for new business as you share your knowledge • Create more cyber-aware customers able to thwart malicious cyberactivity • Reduce your own risk from cybercrime as a result The Keys to a Successful Event Toreallycapitalizeonthisopportunity, youmust be intentional and deliberate in your planning: • Create a guest list: Of course you should include your existing customers, but don’t stop there. Cement your status as a local hero by inviting the community at large. • Save the date : The bad guys aren’t wait ing, so don’t procrast inate. Host your event as soon as you can properly plan it. If possible, consider scheduling it in October, which is National Cybersecurity Awareness Month (NCSAM), “a collaborative effort between government and industry to raise awareness about the importance of cybersecurity and to ensure that all Americans have the resources they need to be safer and more secure online.” • Don’t stop at one: Reach the broadest audience by hosting several sessions conveniently scheduled for various demographics, i.e., mornings for senior citizens and stay-at-home parents, evenings or weekends for working adults. • Remember: location, location, location: Select a venue conducive to a group meeting and one that projects a professional and credible atmosphere. Also make sure the location is conveniently accessible and big enough to comfortably house your entire guest list. • Pick a partner: Pairing up with your local chamber of commerce, an area civic organization or academic institution is a great way to reach the broader community. • Give more than advice: Everyone loves free stuff. This is a great oppor tunit y to hand out bank- branded items like pens, mugs, etc. You could also give away a more valuable door prize. • Bring in the experts: Technology can be a dry and complicated topic,