Because of unprecedented advancements in information technology and internet infrastructure, incredible conveniences are now available with just a click or two. With the efforts to revolutionize mobile app development, we can now do our groceries online, make bank transfers, avail all kinds of digital products and services wherever we are, and scale our enterprises with ease and efficiency. Today, businesses and companies rely on the powerful storage capabilities of computers and cloud computing to collect, store, and manage large customer databases.
However, all these advantages come with a serious risk: customer data protection.
More sophisticated ways to breach data security protocols have developed alongside the dynamic progress in the digital space. But, not to worry—there are ways to still leverage the benefits of being in cyberspace while minimizing cybersecurity threats. Read on to find out just how to keep your customers' data secure with these effective steps.
Enabling Airtight Customer Data Protection
1. Develop a customer data management strategy
To effectively protect your customer data, you need to create a coherent data management plan. With clear guidelines and parameters to approach the problem, your Information, Technology, and Communications teams can quickly address the problem without being bogged down by approval downtime. The faster your response time is, the less damage you will incur.
A comprehensive plan can readily isolate the issue and instantaneously send out the necessary customer alert notifications. In addition, it should also set how and where data should be stored and managed. Having company-wide data management policies in place can also bolster security by restricting the installation and access of unauthorized tools and programs, ensuring that only GDPR compliant mobile apps and software are used.
2. Collect only highly-relevant customer data
Collecting unnecessary information can bog down your business in several ways. One, it can expose your customers' vital data to unscrupulous individuals who may be able to use it for malicious activities that target the former. Storing many data points in your system can make it even more attractive to hackers, making other interlinked databases vulnerable to breaching efforts.
From the customers' perspective, being asked for personal information irrelevant to the business transactions at hand can portray you as an incautious company and diminish customer confidence in your business.
3. Avail of cyber liability coverage
Getting rid of stressing over your customer data vulnerability is worth the money invested in comprehensive commercial insurance such as cyber liability. Insurance is critical in mitigating losses from cybersecurity problems. Regardless of the size of your company, data breaches can significantly impact the reputation of your company and erode public trust. Cyber liability coverage can help provide financial compensation for damages resulting from data theft. It can also help with timely customer warnings about data breaches, retrieve compromised data, and restore busted computer systems. With the prevalence of cyber insurance companies in the market, you are sure to find one that will match your specific needs and financial objectives.
4. Encrypt your data
Data encryption is how readable data is converted into an unreadable format called ciphertext. Whether the data is kept in your computer system or is transmitted on the internet network, encryption makes it possible to restrict access to authorized individuals. This significantly diminishes the likelihood of unwarranted and malicious use. Although, technically, encrypted data can be "untangled," it will take highly sophisticated software to decrypt any data. One way to keep your customers' data protected through encryption is by getting an SSL certificate. An SSL certificate is a digital authentication of your website's identity. It creates a secure connection between your computer system and the web browser being used by your customers.
Before you start encrypting away, make sure that your data files are already backed up. You can also opt to create an image backup that doesn’t just copy the file but the entire drive, so no data will inadvertently be lost.
5. Make use of malware monitoring services
Even with an advanced customer data protection system, hackers continue to devise more and more ingenious schemes to break into your protective systems to gain unlimited access to the confidential personal information of your customers.
Malware cybersecurity companies have the necessary expertise to defend your business against Trojan horses, malicious websites, spyware, ransomware, and other online risks. Competent malware security analysts are more proficient in applying new-generation technology to develop a defense strategy for your system that can match or beat emerging malware threats.
Final Thoughts
Data security is of paramount importance. Robust data management and protection recommendations such as those listed in this article can help ensure that your company is well-equipped to tackle cybersecurity threats head-on. Prevention is always better than cure, and this is nowhere more apparent in the susceptible area of customer data protection. Apply these steps to enable the interception of data breaches before they turn into full-blown corporate security catastrophes.
