3 ways to improve your credit union’s cybersecurity

With increased digitization in everyday life, financial institutions know that strong cybersecurity is critical. Rapidly evolving technology and subsequent security measures must align, but how can credit unions do more to improve their cybersecurity maintenance?

  1. Involve the Whole Organization. Years ago, anything related to technology siloed in the IT department. Now, everyone from risk teams, top-level management, and front-line employees needs to possess at least a general awareness of how criminals can infiltrate their systems. Structural changes and cross-team collaboration are necessary to continue cybersecurity improvements across a credit union’s entire network.

For example, a chief information security officer set up a VPN (virtual private network) for more employees of her bank to work from home when the coronavirus pandemic hit. As a part of the rollout, a multi-factor authentication upgrade was introduced, which she feared would cause substantial backlash. “I expected a lot more pushback from the team,” she said, “and got none. Everyone, including the displaced tellers, were receptive and understanding of the need for better remote access security.”

 

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