Digital solutions in the loan process make serving your clients easier, but they come with new priorities and concerns, especially cybersecurity. You can help safeguard yourself and your clients by following a few best practices.
Verify requests.
91% of cyberattacks start with a phishing email,1 which is an online attempt to gain sensitive information. Whether a request appears to be from a prospective client or an internal colleague, check all digital communications closely to verify the source.
Know your clients and their communication preferences.
Follow security protocols—like a customer identification program (CIP)—to help you manage cyber risks. But follow your intuition, too. If something seems unusual—like an unexpected request for access to an existing account—check it out carefully.
Each of your clients communicates and shares information differently. Some will sign paperwork in person. Others use email, mobile deposit, or multiple devices to send or receive information. Talk with your clients about the devices and communication channels they prefer. If you receive an email request from a client who doesn’t typically use email, take extra care to verify they are who they claim to be.
Keep current with changes in technology and communication.
Technology is always changing, and you need to keep up. Cyberattacks on Wi-Fi-connected devices—the Internet of Things (IoT)—increased by 600% in one year.2
While IT and security departments keep your systems and software are up-to-date, you can add another layer of security. Help your clients understand the risks. Go through updated protocols with them. Ask them the right questions.
Even if it takes some time and effort, it’s worth it to protect your clients’ data.
Find out how the Truist Correspondent Lending team can help you serve your clients.