Experian’s report, in fact, addresses the problem of opposing the usability of a service and its security. Usually, organizations behind such services invest in either security or an improved user experience. However, research has shown that users expect services to offer both a decent level of security and acceptable usability.
Experts have found that 70% of users are ready to provide organizations with whom they interact with more personal data, if it helps to improve security and convenience.
“Security and convenience are the bedrocks of a dynamic digital marketplace that effectively manages risk and delivers a seamless experience.The availability of information consumers share with businesses makes this possible, but it’s the same information that puts them at a greater risk for fraud, making trust more important than ever.”
– said Steve Pulley, Experian’s executive vice president and general manager of Global Identity & Fraud Solutions.
- 55 percent of organisations reported a boost in fraud-related losses over the past 12 months, particularly account opening and account takeover attacks.
- 60 percent of consumers worldwide are aware of the dangers involved with providing their individual information to banks and retailers online.
- 90 percent of consumers are aware that services are collecting, storing and using their individual info.
- Banks and insurance companies are the companies relied on most by customers across the majority of areas. Online retail sites and social media sites trail substantially on trust.
- Almost nine out of 10 consumers report performing personal banking as their leading online activity.
- Passwords, PIN codes and security questions stay the authentication methods most extensively utilized by services, followed by file verification, physical biometrics and CAPTCHA.
SOURCE Experian
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