Cybercrime is set to cost the world an annual $10.5 trillion USD by 2025. This staggering amount is spread across businesses and private individuals, and it’s no wonder that cybersecurity is a top priority for everyone. From improving the everyday strategies to prevent data theft to implementing top-tier security measures like biometrics, there are many things that companies can do in order to improve their digital security.
There are many advantages to improving your digital security:
- Reduced risk
- Reduced lifetime cost
- Improved customer trust
- Improved customer loyalty
- Great for SEO
There are several tools that you can use in order to increase the security of your business in 2021. Some are high-tech, others use good old-fashioned strategies.
- Biometric Identification and Authentication
There are many pros and cons to biometric identification and authentication. In terms of security, it is one of the best and most robust methods that you can use in order to authenticate users and then provide a secure, easy, and user-friendly method for your customers, clients, or guests to sign in and access their information or accounts. It does require a high start-up cost, however, as well as additional security measures in order to protect the very same biometric information from data breaches. However, it is great for organizations that are working with sensitive information and who need, as a matter of urgency, to weed out spam and fraud from their accounts.
- Endpoint Security
Biometric identification can help improve security for both customers and employees. Unfortunately, every time either your customers or your employees access their accounts remotely, there is a risk. They may be using open WIFI, have a virus downloaded to their computer, waiting to track their actions – the options are honestly limitless. A good way to protect your business and your customers is with endpoint security, which works to encrypt and protect your system whenever an endpoint (a phone or laptop, for example) accesses your business.
- Train Your Employees
In a perfect world, everyone will know how to spot phishing attempts, notice when a link is suspicious, and will immediately know when a fraud has attempted to get them to give up their personal information. The world is not perfect, and so, therefore, you need to train your employees. You can even create a quick online course for your customers to brush up on their cybersecurity skills if they want.
- Limit User Access
Timed access and limiting the data that employees have access to are two of the most common means to limit user access. What this means is that it limits the damage that can be done if a hacker has accessed a customer’s or employees’ login information. If they cannot do much, then their efforts will stop there.
- Use Machine Learning
Machine learning works to track and understand behavior from employees to customers alike. It is used all the time, especially in big institutions like banking. AI can immediately determine if the purchasing behavior of any account is suspicious and then put a hold on that account until a teller can call the account owner to verify their purchases.
These simple improvements will work to improve the security for your customers and, in turn, your business. They are excellent additions to consider and will work to improve your security and the loyalty that your customers feel towards your brand.