How to balance cyber security and seamless customer experience

As organizations’ digitization efforts have accelerated over the last decade, so too has the need for cyber security. The attack surface has increased significantly because of digitalization and organizations now have a duty to understand how to prevent cyber-attacks. 

At the same time, customers expect a seamless, smooth experience when operating in the digital world. Therein lies the conundrum – if there are more layers in security, customers get annoyed in the short term at the time of the transaction, and if there are less layers in security, customers become disgruntled in the long term when there is a breach. 

When cyber security and customer experience are juxtaposed, the interplay of the two, in practice, drives transaction ease for customers at scale in the digital world. Insights in this regard gleaned from our own experience are listed below.

Keeping customer data secure 

Security is the most important dimension. Even if one incident goes awry, the firm’s reputation can take a massive beating. As data is a high-value asset, it should have security to match this value. While a fraction of customers may express angst in terms of the enhanced time for transactions, for most customers, tamper-proof security may prove to be the organization’s competitive advantage.

Security, at one level, is a choice based on the customer’s preferences. Customers need to be given a choice to pick off-the-shelf products with minimal information and feature-rich or customized products, based on their consent to share more data. This is a classic way to do a balancing act between the two. Surveys have shown repeatedly that both these categories of customers co-exist.  

Awareness is key. The tendency to focus on actions, without sharing the background or context, is what creates a perception in the absence of information. Our own pilot studies have demonstrated that when firms explain the need for a particular security measure, which is for the customer’s own benefit, their tendency to be enthusiastic participants, rather than carping critics, is significantly higher. 

Articulation makes a difference. The cheerful way the security staff greet you while conducting stringent checks in five-star properties, without giving guests an opportunity to get angry, is a clear indication that the how matters more than the what. 

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Identify the touchpoints that matter 

Focus on moments that matter. Firms need to realize that they can get the maximum from the minimum, by clearly identifying the vital few touchpoints that matter and then go all out for stringency precisely at those moments in the lifecycle rather than adopt a one-size-fits-all approach. 

Familiarity breeds entitlement. As firms understand their customers better, especially given the availability of digital footprints today, a repeat customer is entitled to a smoother journey compared to the new patron who needs to be assessed at various stages. The more the firm and the customer are locked in an embrace, the lesser the barriers. 

Dynamism is the order of the day. While firms employ ethical hackers to figure out loopholes as new processes are adopted, and the landscape around is constantly evolving, keeping checks dynamic can help enhance experience while keeping security prevention at the top of the agenda. 

As Stephane Nappo said, "It takes 20 years to build a reputation and few minutes of cyber-incident to ruin it.” As firms and customers embrace the handshake of these two important dimensions, a win-win is very much on the horizon.