Cybersecurity in Community Banking: How We Protect Your Data

| November 2, 2023 | By

Here’s an understatement for your day: Cybersecurity is wildly important.

Ever heard of someone whose financial information was compromised? The aftermath is, to put it mildly, a significant inconvenience.

You place immense trust in your community banks to safeguard your precious data. With the rising tide of cyber threats targeting the banking sector, you must know that your trust is warranted.

It is. Today, let’s talk about the robust measures today’s banks have in place to safeguard your data (and your savings).

The Foundation of Cybersecurity in Banking

Cybersecurity is far more than just a buzzword. It’s the bedrock of good banking.

A good cybersecurity strategy will involve several core layers of protection. At many banks, these layers include:

Robust Firewall Systems and Encryption Protocols

Firewalls are digital barriers. They stand firm in keeping sensitive information safe, scrutinizing every piece of data that tries to enter or exit our systems to ensure only legitimate traffic gets through. 

Encryption helps boost security by converting data into code. Whenever you send or receive information, encryption ensures that your data, financial or otherwise, remains a jumbled mess to prying eyes, decipherable only by those intended to read it.

These two heavyweights in our cybersecurity toolkit go a long way toward ensuring that customer data remains confidential and secure. But that’s not enough on its own: The world of cyber threats is ever-evolving, and so are we. Our systems undergo continuous updates and refinements to ensure we're always a step ahead.

Regular Security Audits and Vulnerability Assessments

Security audits are routine inspections. Through these audits, banks can regularly examine their systems to ensure there are no weak points or oversights that agents with less-than-admirable intentions could exploit.

By conducting assessments to determine potential vulnerabilities, we can fortify our digital measures against the latest threats. This helps us ensure that your data is constantly protected.

Empowering Our Employees: The Human Aspect of Cybersecurity

Technology alone isn’t the solution to cybersecurity problems. Banking employees are a critical part of any institution’s cybersecurity framework.

Through comprehensive training programs, we can equip our staff with the skills to spot and thwart cyber threats.

One such example? Consider phishing attempts, where a seemingly innocent email might hide malicious intent. Alternatively, think about malware attacks disguised as regular software downloads. If banking employees (AND customers) are trained and warned, they can spot these potential pitfalls and contribute to the bank’s defense.

At BNC National Bank we’re committed to continuous team training, so our employees are poised to help protect you and your data every single day.

Strengthening Customer Account Security

At the heart of our cybersecurity strategy is the protection of your account.

Firewalls, encryption, and constant monitoring help us keep you safe—but there’s something you can do, too. 

Enter multi-factor authentication (MFA). MFAs are double-check systems that require users to go through multiple verification steps before logging into an account or gaining access to data. You may have come across MFA before if you have a phone number backup to an email account, or you need to use an authenticator app to get into an HR portal at work.

Managing MFA may be an extra obstacle or two you encounter in your day-to-day life, but it keeps your data considerably safer. If someone guesses your password, they’re still a step away from accessing your account.

Speaking of passwords, we champion strong password policies. Selecting a strong password will help bolster your account security as much as possible.

Preparing for the Unexpected: Our Incident Response Strategy

Cyberthreats are unwelcome, but they’re a reality we need to prepare for. Our team has a meticulous incident response strategy in place.

Should a threat materialize, our cybersecurity team will leap into action to minimize any damage and support a swift recovery. This will help us ensure that any disruptions are as brief and contained as possible. We possess the tools and expertise to mitigate potential incidents and move forward with urgency and precision to defend your data from unapproved actions or exposure.

Your trust is our priority, and we're always prepared to protect it.

Wondering How You Can Protect Your Data? BNC National Bank is Here to Help

We understand that the very last thing you want to think about when it comes to your finances is a data breach or cyberthreat.

Everyone, every customer and every employee, needs to be aware and vigilant in watching out for suspicious activity. We take definitive actions to ensure your data remains secure, provide proactive employee training, maintain swift incident response strategies, and will let you know if any simple actions on your end (such as selecting a solid password or setting up MFA) would help. We also need you to notify us as soon as you suspect something isn’t right with your accounts. 

If you’re curious about cybersecurity in community banking, contact our team; we’d be happy to discuss further. Or for a deeper dive into our community-centric approach to top-tier banking, explore our guide about how community banks play into the lives of local community members

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