Secure the Conversation

I just finished a six-month mortgage refinance. What was disturbing about the experience, other than it taking six months, was that the major-brand bank did not have a secure way of collecting documents or messages from me. Worse yet is that all the communication was done through email and was hard to organize. I actually used our own lockbox product to send requested confidential tax returns and financial statements. This experience did give me enough inspiration to tailor some of the needs of mortgage professionals into our new portal product.

But the experience led to many questions worth asking:

Why are major banks not trying to protect your confidential information?

How many privacy laws are being broken in the process?

Have they not heard of the FTC Red Flag Rules, state privacy laws or even IRS Circular 230?

Client privacy and security of client documents should be priority #1 at any tax, accounting or financial services firm. Putting in place practices that maintain client privacy shields you from data breaches and possible liability. There were even rumors of Mitt Romney’s tax returns being targeted by hackers.

So whether you are using encryption, client portals or another way of securing documents, make it your priority. Mobile phones and tablets are changing the way your clients consume information. You must have systems in place to meet this demand (securely, of course).

  • Lee Reams II

  • I am a marketing junkie who has spent the last 20 years developing and executing "best in class" word-of-mouth marketing campaigns. With over 10,000 happy clients I think we are on to something. The explosion in web marketing and social media have redefined the way independent professionals market their practices. Follow my blog to see if you can take some of our actionable ideas to market your own practice.

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