As institutions like this are demonstrating, the evolution to a secure digital enterprise needn't be painful or excessively costly. Here are a handful of key considerations for evaluating cybersecurity solutions and making the transition:

How aligned is your institution's strategy for digital transformation with cybersecurity? Security is a critical component of the brand promise an institution makes to its members. From a strategic standpoint, protecting the sanctity and value of member data, as well as an institution's network infrastructure and information, is as vital to growth and competitive differentiation as providing a rich, digitally-enabled member experience. Institutions therefore should be appropriately proactive, assertive and methodical in investing in network security.
How do your security technology initiatives compare to those of your peers? To maximize ROI on digital investments, institutions need scalable security solutions that can keep pace with an expanding digital footprint, increasing network traffic and a greater volume of data. Close to two-thirds (64%) of banking executives who responded to the SourceMedia survey said security will be the focus of their technology strategy in the next three years (see the accompanying graphic).
How closely have you evaluated your infrastructure through a security lens? In many cases, a network security specialist can identify security gaps an institution may overlook. A third-party audit/gap analysis is thus a critical early step. This type of specialist can assess an institution's network infrastructure for security vulnerabilities and network compliance, then work with the institution to develop a plan for addressing any identified gaps.
What are your technology options for cybersecurity? Awareness appears to be a limiting factor in how credit unions respond to the escalating cyber threat, as only 40% of upper-level banking execs in the SourceMedia survey said they are highly familiar with security technology. The more thorough decision-makers understand the network security measures available to them, their cost and how they best integrate with legacy and new cloud-based systems, the better-equipped they will likely be to select the right security solution. To learn more, cast a wider net in conducting due diligence and leverage case studies, peer recommendations, online research and industry guidelines (such as NIST and FFIEC).
To what extent are security measures baked into your core infrastructure and processes? With technology largely powering the banking digital evolution, cyber risk should be a core decision-making factor in this transformation. When security is part of an institution's culture, it's in a much better position to proactively monitor, identify and respond to a cyberattack.

Delivering a trusted member experience is essential to the credit union brand promise. As cybercrime increases in frequency and complexity, institutions must proactively guard this trust. Those that invest in a forward-looking cybersecurity strategy and network infrastructure will be best positioned to deliver a frictionless – and secure – member experience.

Instant Insights /

5 Security Considerations for Credit Unions With Big Digital Ambitions

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