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Entersekt – From friend’s grandpa to hip elder brother: Banks as consumer trust anchors

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Almost five years ago (on Dec. 19, 2013), Target was breached. Roughly 40 million consumer credit cards were hacked, and the public outcry of shock was massive. People could not believe an entity like Target could be so completely compromised.

Half a decade later, consumers are no longer so easily appalled since hacks, breaches and compromised data privacy have become a standard background noise in payments and commerce. Among the big breaches was Equifax, which saw most American adults’ personal information compromised. There was also Facebook’s Cambridge Analytica scandal, as well as the endemic “fake news” issues.

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