Pub. 16 2019 Issue 3

10 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 N E W M E X I C O R E A L I Z E D R E A M S TWO THOUSAND CONSUMERS TOLD US THEIR WORST CYBERSECURITY FEARS Here’s What You Can Do To Help Your Customers Conquer Their Concerns By Steve Sanders T o d a y ’s c on s ume r s a r e inundated with troubling cybersecur i t y news , on pract ical ly a dai ly basis. When word of the Capital One data breach broke, consumers again were left scrambling to f igure out if their personal information was included in the 106 million exposed records. They are under s t andably t i red. 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 protect them - selves better and are quite open to their bank showing them how. Almost three-fourths (74 %) said that they would likely partic - ipate 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 the most likely (75 %) to attend a bank-sponsored cybersecurity education