In the wake of a major wave of data breaches in the United States, many organizations are re-examining their communication strategies. While there is no good way to tell customers that their financial information has been compromised, many business entities and banks have discovered a few processes and procedures that make this important communication more productive for financial institutions and less scary for consumers.
Notifying consumers that their sensitive information has been hacked is difficult and embarrassing for all financial institutions. However, some notification methods are extremely outdated and leave consumers feeling confused and afraid. One of these methods is the evasive Robo-dialer notification that is impersonal and possesses little to no information on how consumers proceed after a data breach. Oftentimes, consumers are left wondering which cards were compromised, what information was taken, or who to contact with questions. While large national chains will inevitably have to resort to Robo-dialer notifications in order to notify all of their customers, progressive banks are spending a lot of time and resources on well-thought-out and tested scripts that reassure consumers that their money is safe, and tells them what to do next.
A growing number of financial institutions are also investing in spokespeople who specialize in communications with the media in case of a data breach. These spokesmen are critical to how the public perceives a particular bank by clearing up confusion, relaying important information about developments, and disputing or correcting media speculation. In addition, savvy banks engage all players who will have to engage with the public in the case of a security breach. Not only is IT trained in customer interactions, but so should CEOs and other critical management staff.
In an era where security breaches are prevalent, financial institutions must create solid communication strategies that notify consumers of breaches, but also relays all pertinent information to them, giving financial institutions the opportunity to positively interact with the media, and reassure consumers that their money is still safe with their company.
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