Ping Id, a number one supplier of seamless and safe digital experiences, launched its annual survey which evaluates Australian shopper sentiment round partaking with manufacturers and companies on-line.

The report surveyed 1600 grownup Australians and recognized rising concern in regards to the threat of id theft. It’s now the chief concern for 65 % of Australians when their particulars are posted or saved on-line, forward of economic loss and surveillance.

“Following a collection of high-profile knowledge leaks, shoppers have change into alert to the chance of id theft and it has them anxious. They need to proceed to benefit from the comfort of transacting with monetary companies suppliers digitally however in addition they need assurance the data they share is secure,” stated Ashley Diffey, Ping Id VP Gross sales APAC and Japan. “With the incidence of cyber-crime solely persevering with to extend, organisations that fail to supply the surety shoppers are looking for could battle to take care of their market share.”

Key Australian findings underline the significance of sturdy id verification measures whereas transacting with organisations on-line:

• 41% stated they might really feel extra protected towards fraud if companies supplied biometric authentication
• 50% really feel safer when multi-factor authentication (MFA) is deployed
• 50% stated one-time log-in codes through textual content or electronic mail would enhance their consolation degree.

The prospect of unhealthy actors utilizing synthetic intelligence (AI) to impersonate them on-line has Australians anxious too:

• 53% are involved in regards to the potential use of AI know-how to create impersonations
• 53% say using MFA makes them really feel higher a few enterprise as a result of it means that defending their knowledge is a precedence
• Solely 60% of shoppers have full belief in banks to handle their id knowledge.

Greater than two thirds of survey respondents believed they’d by no means be totally accountable for their private data on-line, whereas 77% wished to restrict the sorts of details about themselves corporations have been in a position to entry and the variety of corporations that at present had entry to their particulars.

“Australians have been enthusiastic adopters of digital companies together with on-line banking however they’ve learnt the laborious method that the non-public data they share with organisations might be compromised,” stated Diffey.

“To retain their confidence and belief, monetary companies suppliers must create straightforward, safe and personalised experiences that alleviate their safety issues, with out gathering an excessive amount of private knowledge.”