Crises are inevitable. But all too often, organizations lack a deliberate, strategic crisis plan.
No organization is immune to a crisis and this year has proven so. From a drastic increase in cyberattacks from the COVID-19 pandemic to ongoing scandals proliferated through Twitter, crisis preparedness is more critical today than it’s ever been.
In addition to more than 445 million cyberattacks so far this year, research from Risk Based Security revealed that last year alone saw the highest number of data breaches ever. A staggering 33 percent increase from the previous year, more than 15 billion consumer records were exposed.
Beyond cyber threats and data breaches, financial services organizations and fintechs face other crises.
Since 2008, regulators have imposed more than $253 billion in fines, creating a severe strain for many institutions. Workplace harassment continues to climb, with more than 140,000 cases reported last year. Moreover, the FBI reports over 5,000 bank robberies per year, with just slightly over half of perpetrators ever apprehended.
Before a crisis erupts, our team helps you create a solid strategy to navigate potential organizational emergencies.
We prepare a message framework to help you tell your organization’s story and mission, along with detailing various scenarios you may encounter. Through effective press training, our team further helps you prepare for the inevitable to deliver communication internally and to media confidently and comfortably.
A crisis can be extremely costly for organizations across all industries, especially for community financial institutions. In fact, cyberattacks and data breaches may be the most costly. Data from the 2019 Cost of a Data Breach Report from the Ponemon Institute and IBM indicates that data breaches caused by human error – the most common type of breach – cost an average of $3.5 million.
With fēniksDEFENSE™, community banks, credit unions and mortgage lenders have access to sound counsel in times of need, requiring a lower upfront investment but complete peace of mind.
We make sure you are covered.