Reduce Your Business Risk Profile to Increase Trust and Improve Revenue
Financial Services Institutions (FSIs) need to become more data-centric to transform business for sustainable competitive advantage. Doing this well requires the ability to securely blend data from a broad set of siloed and often poorly governed and secured systems and sources. These complexities prevent many FSIs from taking advantage of macro market changes that are increasingly the basis of a go forward ‘right to win’.
FSIswith their data act together have the agility to accomplish the following:
- Enhance consumer and employee intimacy
- Grow customer share
- Ensure regulatory compliance
- Minimize business risk
Protect Customer Loyalty and Increase Revenue with Protegrity
- Increase customer intimacy without risk: In a recent consumer survey by Vanson Bourne 64% of respondents said they are unlikely to shop or do business again with a company that experiences a breach in which their financial information is stolen. For FSIs looking to increase loyalty, trust that personal information will be protected is foundational to the intimacy needed to create a single view of customers, identify opportunities to upsell and cross sell, and ensure competitive advantage.
- Safely move to the cloud: The ability to actively manage data and control access to it enables FSIs to confidently migrate to the public cloud. CEB/McKinsey finds that average cost savings made by doing this, whether it be for bursting or replacement of current data center capabilities, can be as much as 30%.
- Leverage customer data without compromising their privacy: Assured of their flexibility to protect sensitive information, FSIs can engage with existing and potential customers in an increasingly Omnichannel and digital fashion while protecting their sensitive data.
- Avoid regulatory compliance issues: Taking a Privacy by Design approach to protecting customer information means FSIs can simplify meeting the strict regulatory requirements of PCI DSS, GDPR and GLBA in the US, PSD in the EU and the UK’s FCA. Penalties for noncompliance are only increasing – fines under GDPR penalties can reach 4% of annual global turnover.
25% of the largest Financial Services Institutions protect their data with Protegrity*
Protegrity is the proven answer financial services institutions needing to protect their sensitive data and make sure it is only released to authorized customers and personnel. Protegrity Financial Services Customers cover the entire swath of financial services including banking, credit cards, capital markets, and securities.
*Based upon Fortune Global 500 Lists released in August of 2018
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