Even when customers do not leave following a data breach, they may still lose confidence. A new survey confirms the reputation hit corporations fear suffering. FinTech Global reports:
A recent study highlighted by ISACA points to a staggering 78% of industry professionals ranking the reputational impact as the paramount concern following cyberattacks. Given the digital age’s dependency on trustworthy data handling, such breaches can irreparably damage a company’s image and customer trust.
The research pinpoints a significant drop in consumer confidence post-breach. A revealing statistic from the study shows that 66% of US consumers are inclined to distrust a company once it has been compromised by a data breach. Moreover, 75% of these consumers would consider cutting ties with the brand entirely if they fell victim to cybersecurity issues. This sentiment underscores the critical necessity for robust cybersecurity measures and proactive reputation management strategies.
Read more at FinTech Global.