Balancing Customer Convenience, SecurityBank of the West Executive on Achieving a Balance
Consumers have high expectations for their banking institutions. They want to know that their identities and their accounts are secure, but they don't want to be inconvenienced with arduous security hoops and complex authentication requirements.
Finding the right balance between customer experience and security can be tricky, says David Pollino, enterprise fraud prevention officer at Bank of the West. The more banks and credit unions can do on the back end to authenticate users and secure accounts through analytics and transaction monitoring, the happier their customers will be, he says.
In an interview at the RSA Conference 2015, Pollino discusses steps Bank of the West has taken to ensure that security does not adversely impact customer convenience, as well as:
- The services that today are in greatest demand among bank customers;
- What's at greatest risk when security fails; and
- How to get customers more involved in fraud prevention and security.
Pollino joined the bank in 2011. Previously, he served as manager of online fraud prevention strategy and analytics for Wells Fargo and as online risk officer for Washington Mutual. He has a strong background in information security and combating online fraud. During his career, he has worked as a security consultant at @stake, managed online risk as well as information security investigations and employee surveillance at Charles Schwab, and was a security architect at an Internet service provider. Pollino is also an information security author and conducts research in cybercrime techniques.