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Author: Cedric Savarese, FormAssembly CEO
Website/Publication: Brand Quarterly
In this Brand Quarterly article, authored by FormAssembly CEO Cedric Savarese, Cedric covers:
- The shaky state of consumer trust and willingness to share personal information, and the relationship between these attitudes and data breaches.
- Regulations such as the Payment Card Industry Data Security Standard and General Data Protection Regulation, and how these apply to modern companies.
- Advice for improving data security and customer trust, including using web forms with PCI DSS Level 1 Certification and only collecting the data you need.
Cedric on the link between data security, compliance and consumer trust:
“To remain competitive and earn their customers’ trust, businesses need to invest in strong security initiatives. Measures such as regular risk assessments, strong privacy policies and raising organizational security awareness need to be implemented in tandem. That said, there is one thing that must take precedence over all, and that’s regulatory compliance.”
Cedric on the importance of secure, compliant web forms:
“When building a form, it is incredibly important to adhere to all applicable laws concerned with collecting and storing electronic data. If you decide to work with a vendor to build your forms, look for companies that demonstrate strong security practices, including third-party audits and certifications such as PCI DSS Level 1 Certification.”
Cedric on the dangers of neglecting security and compliance:
“As the risk of data breaches continues to grow and evolve, it is incumbent on companies to continuously update their data security practices to protect their customers’ sensitive data. The average total cost of a data breach is USD$4 million, according to the Ponemon Institute; and this doesn’t even account for the incalculable damage that a data breach causes to your brand reputation and loss of customer trust.”
Read the rest of the article on Brand Quarterly.