In this report, we look at the opportunities for banks to bundle a series of security features into a fee-based package account. While financial institution must be careful not to appear to be charging for “normal” security protections, there is a market for customers who value extra peace of mind.
The multi-billion-dollar credit monitoring industry is testament to that.
And even if you are not looking for fee income from your security initiatives, many of the enhancements mentioned can be used to either differentiate your offerings, reduce fraud costs, and/or retain customers.