E-banking and other digital financial services have paved the way for remote businesses to revolutionize real estate, technology and other globally dominating industries.
The key to safe e-banking is 24/7 website monitoring, support, and intrusion detection. Think of website monitoring as home security systems or surveillance cameras. Without constant and continuous monitoring of a banking website, hackers could intrude the moment the e-banking website’s guard is down. Just like physical lockers aren’t just locked some of the time or only monitored for a few hours out of each day, banks need to ensure that their websites are also under digital protection 365 days of the year, without any prolonged downtime or cyber-threats looming around the corner.
Here are some of the reasons why it is an absolute must for e-banking services to employ efficient website monitoring services:
Cyber Security
Having a system that detects any potential cyber threat should be of paramount importance in the e-banking sector. After all, if a hacker can gain access to a bank’s back end and take the service down or even merely disrupt the operation of the institution’s tools or apps, one would naturally also believe that the same hacker might gain access to the account holder’s sensitive data. Because privacy and security are such important features of online banking, all financial institutions that conduct business on the Internet should have a website monitoring service in place.
An astute website monitoring service will not only immediately alert the service provider of the cyberattack, but will also aid in tracking the source of the malicious activity so such incidents do not occur in the future.
Downtime Monitoring
magine a person is met with a serious accident and requires immediate financial transaction from their family, but alas, their e-banking service provider is down unannounced and they have no update on when the website will be back up and working.
This shows the bank in a terrible light and will permanently break the customer’s faith in the services. Banks need to provide their customers contextual communication during a website downtime and other serious incidents to keep the customer’s confidence in them intact. This will only be possible if they receive immediate alerts about their website outage before disgruntled customers begin to post their negative experiences on social media.
SSL Certificate
An e-banking website without an active SSL certificate is akin to embarking on a self-sabotage mission. An SSL certificate is a digital certificate that verifies the identity of a website and allows for a secure connection.
It encrypts sensitive account holder’s data and ensures that there is no leak while the transaction is taking place. An expired SSL certificate will thwart a customer from availing of the transaction services due to their justified doubts over the service provider’s authenticity and security.
Having competent website monitoring tools in place ensures that the bank is alerted way before their SSL certificate is on the verge of expiration, so they can renew it well ahead of time and avoid any loss of credibility in the future.
Insights
Ingenious website monitoring tools not only send businesses instant alerts and notifications but also give them regular insights into your website performance. This helps institutions, especially as important as the banks, to understand their fluctuating market better. They get insights into the demographics of their customers, transaction trends, etc., which help them improve their e-banking services.
Revenue
A poorly monitored website will sooner or later cause a huge revenue loss to the business. First, the constant unannounced downtimes will frustrate the customers who are in a hurry to make a financial transaction, then cyber threats and a lack of an active SSL certificate will dissuade them from visiting the e-banking website, and finally, lack of any concerns for the customers will make the company lose out on huge revenue. All this can be avoided by investing in resources that will keep you in a real-time loop with your website performance without having to manually watch over it.
An efficient website monitoring system will only fortify the customers’ faith in the banking institution and will lead to long-term revenue growth.
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Banking and financial institutions need website monitoring more than almost any other type of service. Awakish’s prompt and insightful website monitoring tools cater to all the above services and more!
We provide advanced and acute services to our clients across all the top industries so they can execute their business goals in peace, while we take care of all their website monitoring needs. Contact our support team to know more!