Customer and employee privacy is vital within every organization. However, some could argue that in the financial industry, security is of the up most importance. Because of this, government rules and regulations are put in place to protect personal information and determine who can gain access to accounts.
While guarding internal and external material is crucial, the security processes put in place can often have a negative effect on customer service. Personnel of financial institutions usually have several different applications they need to login to in order to gain access to customer records. Security measures may require each application to have its own unique password and may expire and require the user to change their password frequently. This process makes forgetting passwords extremely common.
One solution to the privacy and password issue is implementing password management software. This can help to easily meet government compliance and regulations while also not hindering the end user experience.
A Single Sign On solution allows the end user to only have to remember one set of credentials. Once the solution is enabled, the employee will login once and thereafter will automatically be granted access to all other of their authorized systems. This removes the need for password reset calls to the help desk and employees writing down passwords.
Another solution is implementing a Self Service Reset Password Manager. This enables end users to reset their password by answering a set of predefined questions. The “forgot my password “button is added to the logon screen, making resetting passwords safe and easy. A long drawn out call to the help desk is no longer necessary which saves the employee time and creates a positive experience for the customer.
When a finical institution implements either of these solutions or both a secure method of password management is enabled, allowing for enjoyable experience for the customer and a fast and compliant way for employees to handle multiple passwords.