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What are the Benefits of EV SSL Certificates to Banking and other Financial Institutions?

What are the Benefits of EV SSL Certificates to Banking and other Financial Institutions?

When security needs to come first

With the advent of the Internet revolution and the subsequent introduction of e-commerce, banks and other financial institutions have taken their deserved share of online trading. With online transactions, banks can now do anything from customer deposits to withdrawals. But despite the convenience that comes with online banking and transactions, there is one thing that needs to be addressed if a bank will want to succeed in their online space. Security is one of the primary factors that every bank and financial institution need to put at the center of its online operations. But how can a bank attain to the level of security that will keep its customers absolutely safe? The answer to the above question and the issues regarding online transaction security lies in availability and utilization of an EV SSL certificate.

What is an EV SSL certificate?

Before we proceed and delve deep into the benefits of an EV SSL certificate, we need to define it. The term EV SSL stands for Extended Validation Secure Sockets Layer. In this technological arrangement, an SSL certificate uses cryptography to create links between the bank’s website and the browser the client is using to transact. This way, all the details shared between the two points remain secret. Let us now move on and have an in-depth look at the benefits of an EV SSL certificate  for your bank and any other financial institution.

The benefits of an EV SSL certificate

This section explores the benefits of using an SSL certificate in depth. Below are some of them.

  • Gain the trust of your existing and potential customers

SSL Certificates 1

In an online environment that is rife with fraudsters and bullies, nothing is more important to your business than retaining the trust and confidence of your customers. When your website has this certificate in place, your existing and potential customers transact with confidence and trust being assured that they are in safe hands. When you earn and maintain the trust and confidence of your customers, you maintain the prospects of making more business from them. Additionally, an SSL certificate keeps your customers from migrating to another bank because trust is the glue that cements your relationship with your customers. Also, customers can only give their money where they have anchored their trust.

  • A greater sense of customer privacy

Every banking institution worth its salt has a moral and legal obligation to protect the privacy of its clients. With an EV SSL certificate in place, you give your clients the confidence they need knowing that you uphold and respect their right to privacy as they transact.

  • Your network remains secure

Another benefit of an SSL certificate is that it helps to keep your entire online banking system secure. The reason here is that the same way hackers can gain illegal access to your bank’s sensitive information the same way they can access that of individual customers. An EV SSL certificate ensures your network remains off the hands of hackers and thieves who can invade the system and steal the identities of your customers.

  • Global recognition

For a financial institution seeking to win the trust and respect of its customers and other relevant stakeholders, it is necessary to for it to acquire global recognition. One of the ways of achieving this milestone is the acquisition of an SSL certification. This way, you communicate to your customers and other relevant stakeholders that you are a security-minded institution that complies with internationally accepted privacy and online security standards.

  • It keeps your customers’ money safe

Of all the things your customers would like to protect, none of them is as important to them as their hard-earned money. When you have an SSL certificate in force, you give your customers the assurance that their money is safe from the dirty hands of online thieves and crooks.

  • It keeps your customers’ sensitive information safe

The leakage of sensitive customer information is the first step in the stealing of customers’ money online. But with an EV SSL certificate in at work, you can rest assured that all the sensitive details that online crooks need to rob your clients are out of their reach. An SSL certificate ensures your customers’ sensitive information such as credit card number is safe.

  • It keeps off suspicious tracking

Tracking is one of the initial stages in the process of stealing customers’ money online. The availability of an SSL certificate ensures that online thugs cannot track the activities of your clients when they transact through your website. This way, you keep your customers safe from potential fraudsters.

  • Your bank gets a digital identity

With the availability of an EV SSL certificate, you can give your visitors and clients the proof they need regarding your digital identity. This way, you furnish them with evidence that your online identity is secure.

  • Maintain a good brand image

Another benefit that your banking website will enjoy is that it will gain a good brand image. This way, you will maintain the goodwill of your stakeholders and build your corporate image and reputation.

  • Give your customers the peace of mind they crave

Lastly, the availability of an EV SSL certificate will ensure that your most important relationship in the market—the customer— retains their peace of mind. With your clients being sure of their money’s safety, the security of their privacy, and the safety of their sensitive details, they can take a breather, relax, and begin enjoying peace of mind. With the serenity of your customers, you too can take the same mental posture because when your customers are at peace, your business is also at peace.

Parting shot

So far, you are abreast with the benefits of having an EV SSL certificate. The certificate offers you the opportunity to boost the trust and confidence of your customers in your online banking system. Additionally, the certificate enables you to maintain the security of your customers’ money and other sensitive personal details. Lastly, banks and other financial institutions can use these certificates to boost their online reputation as companies that comply with the internationally approved online safety standards.

 

Written by Alice Walker