As many as a quarter of European banks do not have essential digital certificates to prove that their home pages and online banking web pages are encrypted and secure from outside access, a new study has revealed.
Four years ago, a study conducted by the Ponemon Institute and Venafi found that as many as two-thirds of firms lost business because they did not manage to secure the trust of their online customers through security keys and certificates.
The study also found that a majority of global companies also suffered costly outages, failed audits and experienced data breaches due to unprotected or poorly-managed security keys and certificates. This fact indicated how important security certificates are for companies as consumers are not inclined to do business with firms that lack basic security credentials.
Yet, despite the threat environment becoming more complex and unpredictable than ever before, a quarter of European banks still do not have necessary digital certificates to assure customers that their home pages and online banking web pages are encrypted and secure from outside access, online security certificates issuer Sectigo has found.
A study conducted by Sectigo revealed that even though every European bank has some form of SSL certificate on its home and login pages, 25 percent of them lack Extended Validation (EV) SSL certificates that help to increase site transactions and "protects users against phishing, serving as a best-practice security measure for businesses online".