Building on the right foundation: Cybersecurity and building societies
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A security breach is bad news for any business, but for a building society that needs a reputation as being trustworthy, stable, and secure, it can be extremely damaging. As a result, security is paramount.
Building societies have been integral to shaping the physical landscape by enabling members to become homeowners. But in order to remain relevant, they need to stay up-to-date with members’ expectations and offer modern services, including access to digital products. A strong reputation as a safe, sensible alternative to banks is a brand value that must be safeguarded. And in this age of growing cyberthreats, taking measures to better protect member information and keep it secure is a major part of this. This white paper discusses the threats building societies must address, and how they should go about doing so.