One, Two…PSD3: What the Payment Services Market Can Expect
The danger posed by possible cyber-attacks and the serious consequences is often unfortunately underestimated. Until the point when everything gets out of hand and panic breaks out. Regardless of whether companies, municipalities or the health sector are affected, third-party data is always involved. The top 7 cyber-security breaches in 2021 show the explosive nature of the topic and illustrate the sensitivity to hacker attacks in the age of digitalisation.
We remember only too well: Shortly after the outbreak of the Coronavirus in the United States, several hospitals were hit with ransomware attacks. Vital patient information was inaccessible, treatment schedules were lost, surgeries were delayed, and life support systems were compromised. There is never a good time to be the target of a cyber attack. However, there are worse times. And in the middle of a pandemic, with hospitals already overrun and staff overworked, is definitely one of them. Many hospitals were forced to pay millions and still suffer from the consequences of these attacks.
This is a worst-case scenario. However, a lack of security can severely affect your business and your customers. With more and more employees working from home or on the go and customers increasingly turning to the Internet for everyday tasks from banking to grocery shopping, it’s imperative for businesses to consider how they can contribute to a safe online environment.
Concrete action steps for boosting online safety
Keep everyone informed:
The most important step you can take as a company towards creating a safer Internet is to create awareness. Security breaches can frequently be avoided by keeping users and employees informed of safety basics like how to avoid dangerous content, how to create stronger and more effective passwords, and why it’s important to log out of accounts. Closing these security gaps is one of the easiest steps you can take.
Control data access:
However, as desktops and mobile devices are slowly infiltrating every facet of our lives, it would be wise to take a more critical look at your cyber security systems to determine if they’re up to the task. Having a security system that balances the ease and comfort necessary for a great customer experience while guaranteeing safe logins and transactions is critical for customer satisfaction and success. That’s why investing in secure access control systems like IAM and CIAM is your next best step.
IAM and CIAM systems
Installing an IAM system in your workplace will allow you to control which users have access to which systems and services. This ensures that company and user data cannot fall into the wrong hands. This is more important than ever since traditional safety features like firewalls do not protect mobile employees. Integrating a CIAM system into your customer-facing apps and online portals will help you implement some of the strongest identity verification solutions currently available by allowing you to create and manage your users’ digital identities and their associated data. This not only keeps user data more secure, it also gives users greater autonomy over what they share.
Go passwordless:
The only thing better than informing users about password safety is getting rid of passwords altogether. Relying on biometrics for user authentication is a nearly foolproof method of verification. This method guarantees the highest level of data security and is the most convenient since it eliminates the need for lengthy and complex password protection. With our Nevis Authentication Cloud recently certified by the Commission for the Protection of Minors in the Media (KJM), we also strive to highlight companies' enormous responsibility to protect children and youth online. Replacing passwords with biometric indicators makes it nearly impossible for minors to access inappropriate apps, websites, and services.
Win-win situation
In honour of Safer Internet Day, we call on companies to consider what part they can play in making the Internet safer for users, especially the youngest and most impressionable ones. Protecting user data and safeguarding users from online attacks and inappropriate content is a task for everyone.
And your company stands to gain, too. Not only does increased security help you deter cybercriminals and data theft, but it also bolsters your reputation as a reliable and trustworthy business. The best way to gain and retain customers is by winning their trust. So help keep your users safe by offering them robust security and providing them with the knowledge they need to navigate the Internet smartly and safely.
