How to keep your (customer) data secure

Going digital; the transformation of an industry

The global transformation of car leasing is essentially driven by one theme. Digitalisation. The future of mobility has an overwhelming digital component. Continuing to be a relevant player in the mobility industry means: going digital. It means entering a world where customers share their personal and financial details online, in order to choose their mobility solution. Where securing this data, is the company’s responsibility.

Digital maturity

We have all embraced the possibilities of online. They continue to be fun, surprising and exciting. But we have also reached a level of maturity. Through news and social media, we were educated on the importance of data security. We read about cases of identity fraud and hackers, stealing our personal details. Governments and corporations joined forces to create digital/online security standards. All this happened over the past years and today, the solutions are here; software and hardware to safeguard the digital identity of your customers. So now, all that car leasing companies have to do is incorporate digital security in their day-to-day operations.

Five practical security steps

Drawing from best practices shared by leading online enterprises, combined with our own extensive experience, we made a shortlist. Five vital aspects, concerning security measures:

  1. Invest in the role of a security and compliance officer.
  2. Choose qualified IT-partners, that are certified by the leading software/service providers.
  3. Be open to feedback. Even when it does not suit your schedule or budget.
  4. Schedule regular security audits by expert auditors. To learn, improve and stay ahead of vulnerabilities.
  5. In case of any breach, be as transparent as possible.

The price of doing nothing

With ‘digital’ becoming more important, traditional car leasing companies face several challenges. In the past, we have seen corporations unable (or unwilling) to meet them, and pay the price. Besides the legal repercussions of failing to take responsibility (in accordance with the Pan-European General Data Protection Regulations – GDPR), they suffered extensive damage to their company brand and image.

Security breeds loyalty

In the field of security, updates are everything. There is no such thing as a completed security project; it is an ongoing process. One last tip: share every security move you make with your customer base and prospects. They will award you with loyalty, for taking their security seriously.