The banking industry was presented with numerous challenges as the pandemic spread across the nation and the world. Many banks learned just how capable their staff was to work from a location outside of the bank’s walls. When the right technology and safeguards are in place, telework can be a good compromise for many workers to be able to continue their important jobs while also having access to a safe work environment.
Digital banking provides faster processing of financial transactions, more convenience, and a model that allows for the continuation of a financial industry even in the face of a pandemic. However, digital banking makes banks vulnerable to cyberattacks. Banks are now facing fresh security challenges that were brought on or affected by COVID-19. Here is what you need to know about them and how to protect yourself.