What factors do you consider when choosing a bank? Perhaps how much interest they offer on your savings? Is there a convenient branch nearby? How easy is a website to navigate? 23% of consumers in the US and UK say a bank's approach to cybersecurity is a factor when considering opening an account, according to a new survey. Masu.
According to CybSafe research, 85% of customers feel it is important that their bank provides training to those who request it to help them stay safe online and avoid fraud, and 42% of respondents It said such measures were “very important”.
The report also found that 36% say cybersecurity is not a factor when choosing a bank, but a major data breach could influence their banking decision.
84% of respondents believe banks have a responsibility to provide their customers with resources to stay safe online and avoid fraud. 85% of customers feel it is important that their bank provides training to help them stay safe online and avoid fraud. When asked if they would take advantage of cybersecurity training if their bank offered it, 47% said they would. Only 1 out of 5 respondents answered “I don't think so,” and a further 3 were unsure.
Jason Nurse, director of scientific research at CybSafe, said:
For customers, it is no longer enough for banks to view cybersecurity through the narrow lens of compliance. Our latest research highlights a significant shift in customer expectations, reflecting a growing demand for proactive, human-centered risk management strategies. Customers recognize that banks play a critical role in not only protecting their financial assets, but also enabling them to confidently navigate the complexities of the digital age.
It is becoming increasingly clear that the future of cybersecurity lies in providing both employees and customers with the knowledge and tools they need to defend against advanced cyber-attacks. This is not just a matter of regulatory compliance; it is fundamental to building trust and ensuring financial institutions' resilience in the face of new threats.
The full report is available on the CybSafe site.
Image credits: Frank11 / Shutterstock
