How to deliver great CX without sacrificing communications security

The financial industry faces significant security challenges, including ransomware, fraudulent calls/spoofing, botnets & DoS, and employee vulnerability to phishing or smishing attempts. To combat these threats, a three-step security framework is recommended: Prevention, Detection, and Response. This involves finding the right measures to protect various aspects of platforms, continuously validating users' identities, partnering with vendors specializing in industry-specific threats, and having an incident response plan. Cloud migration can also improve security by outsourcing non-core competencies to specialized providers. To maintain a balance between customer experience and security, businesses should focus on consistent user experiences, robust cybersecurity monitoring, tailored authentication methods, regionally appropriate data storage practices, and privacy-forward processes and policies.