Risks and rewards: Managing loyalty program privacy and security
Briefly

from Securitymagazine5 months ago
Personalized loyalty programs provide unmatched convenience for consumers while offering businesses invaluable insights into preferences, enhancing customer satisfaction and driving engagement, thus becoming a strategic asset.
Securitymagazinehttps://www.securitymagazine.com/articles/101147-risks-and-rewards-managing-loyalty-program-privacy-and-security
With evolving privacy laws and consumer awareness, businesses must balance personalization with privacy, as navigating risks is crucial to avoid hefty penalties and damage to trust.
Securitymagazinehttps://www.securitymagazine.com/articles/101147-risks-and-rewards-managing-loyalty-program-privacy-and-security
Data breaches now pose significant financial burdens beyond just immediate costs. Legal fees and the potential for lawsuits can add extensive hidden costs related to reputational damage.
Securitymagazinehttps://www.securitymagazine.com/articles/101147-risks-and-rewards-managing-loyalty-program-privacy-and-security
The August 2023 data breach at Caesars Entertainment exemplifies how breaches affect even large companies, highlighting the risks involved when customer data isn't properly secured.
Securitymagazinehttps://www.securitymagazine.com/articles/101147-risks-and-rewards-managing-loyalty-program-privacy-and-security
Read at Securitymagazine
#loyalty-programs #consumer-privacy #data-security #business-strategy #legal-risks
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