Data is growing at an explosive rate. Billions of gigabytes are generated every day, and it’s getting worse.
The sheer amount of it is staggering. Data comes from smartphone apps, the Internet of Things, public websites, social media, smart appliances and more. It’s projected that five years from now, data generation will skyrocket to about 460 billion gigabytes per day!
Holy cow, that’s a lot of data!
With all that data floating around, individual privacy is more at risk than ever. Personal concern is elevated, especially because of the frequent news of data breaches and irresponsible security practices. In today’s data-explosive world, it’s crucial for you to pay special attention to how you maintain your members’ data privacy.
Your members routinely view your credit union as an organization they can trust to keep their personal financial data secure. They’re inclined to trust you far more than an average business in terms of your commitment to ensure the security of their personal information.
This high degree of member trust is a big responsibility on you. Simply put, you need to reinforce member beliefs that you’re trustworthy, you follow rules and procedures and you protect the privacy of their personal data.
So, what can a credit union do about this?
Take the opportunity to show your members you’re worthy of greater trust
Increasing member awareness is a great place for you to start. Let them know what you’re doing to protect your members’ data. Right now, thanks to the impacts of COVID-19, it’s important to inform members about you how you collect, use and protect financial data.
Then, demonstrate a tangible benefit to reinforce members’ view of your credit union as a safe, trustworthy institution. Remind your members that one of the best data privacy steps is a simple and secure digital way for them to positively identify themselves. Start to use MemberPass digital identity/privacy technology to show your members you’re applying solid technology to help keep their data private. In other words, you’re doing all you can to keep data secure by ensuring secure authentication and identity accuracy.
MemberPass privacy technology gives members physical credentials like they already have. Except in this case, no one else can see them, change them or take them away.
Members enjoy these great benefits with MemberPass privacy technology:
- Establish a secure and virtually hack-proof credit union connection.
- Store, maintain and control their own digital identity credentials.
- Protect against identity theft.
- It’s touchless, so health and safety concerns are avoided.
- Use their digital identity credentials easily and conveniently across all of your member contact channels.
Contact us to learn more about how you can use MemberPass in all your member contact channels, creating a seamless omnichannel experience. You can request a demo, register for a webinar, or review our FAQ when you visit us at www.memberpass.com.
MemberPass, powered by a credit union service organization, offers a simple and secure solution to verify member identities. It leverages touchless, privacy-enhancing technology to keep your members safe. Visit www.memberpass.com or email us at email@example.com.