Let’s call it financial IQ.
Not every customer has the same level of knowledge when it comes to distinguishing an individual retirement account (IRA) from an initial public offering (IPO) or an annual percentage (APR) from an application programming interface (API). The same applies to payments and payment security. While every bank customer wants their data and deposits to be secured, not all share the same level of sophistication.
It’s a reality that Rachel Scheuerman, director of product solutions for Ondot Systems digital map services platform, will not lose. As she told PYMNTS, not every bank customer has the same understanding of the various tools that are available to them when it comes to actually protecting their security. This is an important consideration when financial institutions (FIs) are considering marketing and messaging for security functions.
“Every FI has a wide range of customer segments, different generations and different levels of comfort …