Nearly three-quarters of consumers (74%) would be likely to participate in a cybersecurity awareness or education program from their financial institution if they offered it, according to a recent survey conducted by The Harris Poll on behalf of Computer Services, Inc. (CSI) (OTCQX: CSVI). The survey also found that an overwhelming majority of consumers (92%) have concerns about the security of their personal confidential data online.
The poll ran online July 1-3, 2019, and it represents feedback from more than 2,000 U.S. adults ages 18 and older about their security concerns, beliefs and practices. According to the results, more than half of consumers (56%) believe that a person’s payment information is more likely to be compromised when using a debit card versus a credit card. Additionally, about one-quarter of consumers (24%) believe it is okay to use the same password for an online bank account that is used for other online accounts. Surprisingly, younger adults are more likely to believe this than their older counterparts (36% of those ages 18-34 vs. 19% of those ages 35+).
“Compromised financial data represents one of the most threatening issues for financial institutions and consumers alike, so it comes as welcome news that consumers are interested in receiving education from their banks or credit unions,” said Kurt Guenther, group president for CSI Business Solutions. “Financial institutions have a unique opportunity to not only build stronger relationships through customer education, but also enhance their own anti-fraud efforts by providing accurate, easy-to-use advice that helps consumers protect themselves in the event of a security incident.”
Taking a proactive approach to cybersecurity education also can help banks and credit unions increase customer retention. Over half of consumers (58%) indicate they would leave their financial institution if it suffered a data breach and customer information was stolen or hacked.
The survey offered additional insight shared by U.S. adults regarding their security habits and practices, and a detailed report is available via www.csiweb.com.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, treasury management and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, American Banker’s Best Fintechs to Work For and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
Survey Methodology
This survey was conducted online by The Harris Poll on behalf of CSI, July 1-3, 2019, among 2,034 U.S. adults ages 18+. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For more information on the survey methodology, including weighting variables and subgroup sample sizes, please contact Haleigh Tomasek.
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