COSTA MESA, Calif.,
Feb. 4, 2020 /PRNewswire/
-- Today's businesses need to deliver more than personalized
products and offers, they need to deliver on customer expectations
for security and convenience at every moment. Released today,
Experian's annual Global Identity and Fraud Report found
that the keys to meaningful online customer engagement are
identifying and recognizing consumers time after time. The report
found that while 95 percent of businesses are confident in their
ability to identify and re-recognize their customers, 55 percent of
consumers across the globe don't feel recognized when doing
business online. In addition, while business confidence is high, 57
percent of businesses are experiencing rising year-on-year fraud
losses, often the result of an inability to recognize
customers.
"Creating the ultimate digital experience is a big focus for
businesses, and it all boils down to being able to digitally
recognize existing and potential customers accurately, seamlessly
and consistently," said Steve
Pulley, Experian's executive vice president and general
manager of Global Identity & Fraud Solutions. "And while
businesses think they're doing a good job, fraud continues to be on
the rise and consumers don't feel like businesses know them.
Businesses need to do a better job of using the same data and
technology that's being used to improve customer experiences to
better identify customers and prevent fraud."
Findings from the study reveal that organizations across the
globe are committing to advanced technology, with 86 percent
considering analytics to be a strategic priority and more than half
of businesses across the globe looking to invest in AI. This
demonstrates that advanced authentication methods, such as machine
learning, device intelligence and biometrics, might be the key to
successful re-recognition. In fact, a total of 81 percent of
consumers across the globe view physical biometrics as the most
secure form of identity verification.
In addition to being able to re-recognize consumers, businesses
must also look at security and convenience. For the third year in a
row, consumers cited security as the most important element of
their online experiences. 74 percent said security was their top
priority, with convenience following closely behind.
"While consumers said they notice and like what businesses are
doing to improve their digital experiences, such as personalized
offers, the likelihood of them continuing a relationship with a
business will come down to how secure and meaningful those
relationships are," added Pulley.
To develop the study, Experian® interviewed more than
6,500 consumers and more than 650 businesses across 13 countries
around the world. Additional findings from the fourth annual fraud
report include:
- Businesses are reporting 57 percent higher losses associated
with account opening and account takeover fraud, in the past 12
months.
- Over half the businesses are prioritizing the creation of
targeted products and offers.
- 66 percent of consumers understand the value of their personal
information to businesses.
- 88 percent of consumers want more control over the use of their
data.
The Global Identity and Fraud Report also shows how
different regions across the globe view and manage fraud:
- In Brazil, 93 percent of
consumers want more sophisticated security in the form of facial
recognition, compared to 63 percent in China.
- While 95 percent of businesses globally claim to have high
confidence in their ability to identify and re-recognize their
customers at every interaction, the lowest confidence is in
the Netherlands with 82
percent.
- Consumers in the U.S. value their data the most, with 74
percent of consumers seeing value to them personally. Colombian
consumers were the lowest with 57 percent of consumers.
- Globally, 88 percent of consumers like the changes being made
to the customer experience as a result of their data being used.
Consumers in APAC top the list at 89 percent and Europe (including UK) follows closely behind
at 82 percent.
The full Global Identity and Fraud Report can be
downloaded here: http://bit.ly/GIDFR20
Experian's identity and fraud business comprises more than 300
fraud experts around the world working to protect people's
identities and fight fraud for businesses across multiple sectors,
including financial services, telecommunications,
retail/e‑commerce, insurance, government and healthcare.
About Experian
Experian is the world's leading global information services
company. During life's big moments — from buying a home or a car to
sending a child to college to growing a business by connecting with
new customers — we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have 17,200 people operating across 44 countries, and every
day we're investing in new technologies, talented people and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global
content hub at our global news blog for the latest news and
insights from the Group.
Experian and the Experian marks used herein are trademarks or
registered trademarks of Experian and its affiliates. Other
product and company names mentioned herein are the property of
their respective owners.
Contacts:
|
|
|
|
Kristie
Galvani
|
Scott
Anderson
|
Rubenstein Public
Relations
|
Experian Public
Relations
|
1 212 805
3005
|
1 714 830
3185
|
kgalvani@rubensteinpr.com
|
scott.n.anderson@experian.com
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/more-than-half-of-consumers-across-the-globe-dont-feel-recognized-when-interacting-with-businesses-digitally-300998187.html
SOURCE Experian