Webinar Teaser: Q&A with Terri Burton
“The Rebirth of Identity Protection in Banking” is less than two weeks away! We decided to go behind-the-scenes and chat with Terri Burton, EZShield’s channel marketing solutions manager, who will also be moderating our upcoming webinar. Burton has worked closely with our speaker, Laura Bruck, vice president of marketing & solutions strategy, to bring this webinar together. Let’s see what Burton had to say about the significance of this topic within financial institutions.
EZShield: Hi Terri, thanks so much for taking the time to talk about EZShield’s upcoming webinar. The goal here is to better understand why this [webinar] topic is so important to the financial services industry. Why don’t we start by discussing the concept of identity protection which, in general, is a hot topic right now. What’s causing all the hype?
Burton: Not a problem. The webinar is extremely important to the financial services industry because it will focus on how organizations can properly secure their customers’ identities and ultimately strengthen their customer relationships. The increase in data breaches is a key reason why consumers worry about their personal information. It is actually creating an overall consumer need for identity protection that can help protect them from fraud and identity theft.
EZShield: Right, and it makes sense that consumers need some form of identity protection. But there are so many options out there, right? It shouldn’t be too difficult for a consumer to get identity protection services.
Burton: This is true. However, the abundance of identity protection services – like free breach victim protection and other direct-to-consumer options – also plays into consumer skepticism. Consumers just aren’t that confident anymore in a business’ ability to secure personal information after hearing about so many data breaches in the news. This lack of trust can often mislead consumers by creating this myth of a “fix-all” solution for identity crime. It can also push consumers to bypass all means of protection simply because they don’t want their information compromised in a future breach.
EZShield: I’m following, but I’m still not sure why financial institutions need to be involved. Where is the connection between the financial services industry and identity protection programs?
Burton: Well, research shows that consumers often turn to their financial institutions as a first line of defense if their personal information has been compromised, or if they’ve experienced fraud. Financial institutions, equipped with identity protection or not, already play a major role in their customers’ experiences with fraud or identity theft.
EZShield: You mentioned that financial institutions are already part of the fraud or identity theft experience when one of their customers becomes a victim. So, how would offering identity protection services position financial institutions to help their customers even more than they already do?
Burton: A big part of identity protection is simply being aware. One of the major points we talk about [in the webinar] is the holistic approach to protecting customer identities. With the right identity protection program, financial institutions are prepared to navigate their customers through an often complicated and scary situation. Today, financial institutions do a great job at addressing the fraud that occurs within their own accounts. But the missing piece of the puzzle is the protection customers need outside of their financial institutions. To put it simply, effective identity protection programs can help institutions offer more than just “quick fixes” to fraud, and ultimately ease a customer’s worries when identity crime occurs.
EZShield: It sounds like identity protection offers a number of benefits for the customer. What’s in it for the financial institution?
Burton: That’s what this webinar is all about! At the end of the day, identity protection in banking is a win-win scenario. Consumers, as I mentioned before, are likely to contact their financial institutions when they experience fraud or identity theft. And while these services are there to secure the customer’s sensitive information, the financial institution becomes a trusted source of knowledge and support when identity crime occurs. When organizations are equipped with the proper tools and resources needed to address identity crime, they can act as a true champion for their customers. They become the go-to resource for their customers who fall victim to fraud and identity theft, which ultimately builds trust and strengthens the institution’s overall customer relationships.
We want to thank Terri Burton for taking the time to answer key questions surrounding our upcoming webinar! If you’d like to learn more about the benefits for both financial institutions and their customers by offering identity protection solutions, be sure to register for “The Rebirth of Identity Protection in Banking” hosted by EZShield.