Making data breaches less of a burden for banks
As banks, credit unions and other businesses rely more on customer data, that data rises in value and becomes more of a theft target.
Jim Van Dyke, SVP for innovation at Sontiq and a leading voice on data breaches, discusses how financial institutions can best protect their customers.
A few takeaways from our conversation:
- While banks and credit unions are not typically a source of breaches, they tend to feel the financial impact most strongly.
- Banks and credit unions should think about identity protection as part of the customer’s overall financial wellness.
- Financial services providers can put artificial intelligence to work to better gauge fraud risk for individual customers.
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