Page 10 - AeM_April_2019

RESEARCH, ANALYSIS & TRENDS

New Experian research highlights that 71% of APAC

consumers value ‘security’ as the most important

element of their online experience

Experian just released its Global Identity and Fraud Only then will mutual trust between businesses and
Report Asia-Pacific (APAC) research which highlights consumers be established.”
that trusted online relationships are based on
businesses providing both a secure environment and While existing security methods used by organizations
seamless consumer experiences. With insights from are still more traditional in nature, report findings
almost 6,000 APAC consumers, the report found that the revealed that new technologies and advanced
majority (71%) value ‘security’ as the most important authentication solutions are viewed favorably by
element of an online experience, followed by consumers. In fact, 75% of APAC consumers that have
‘convenience’ (20%) and ‘personalization’ (9%). already encountered physical or behavioral biometrics
during online banking showcase high confidence in the
Of the 590 APAC businesses surveyed, an alarming respective security measures.
50% have experienced an increase in online fraud-
related losses over the past 12 months. This includes “The move towards more robust security methods is
account takeover attacks and fraudulent account compulsory for businesses looking to earn consumer
openings. As a result, 63% of APAC consumers trust. At Experian, we build innovative solutions suited
surveyed feel they are sacrificing privacy for for an increasingly interconnected world, helping
convenience in today’s unpredictable threat landscape. consumers protect their digital identities and
While businesses have often invested in convenience at businesses ensure frictionless consumer experiences
the expense of security, consumers in APAC expect amid rising threats,” Elliott emphasized.
both.
Transparency is another key determinant in building
As organizations and consumers increasingly interact mutual trust. The report found that 81% of APAC
over digital channels, both parties must obviously find consumers expect full transparency from businesses
ways to establish mutual trust. around how their information is used. In line with this
trend, 58% of APAC businesses surveyed plan to
Ben Elliott, Chief Executive Officer, Experian APAC said: invest more in transparency-inspired programs such as
“The traditional mindset that views online security and educating consumers, communicating terms more
convenience as two opposing forces is obsolete. concisely, and helping consumers feel in control of their
Businesses must invest more to combat fraud, while personal data.
ensuring seamless consumer experiences at all times.

10 April 2019 - Personalized & Customer-Centric Content Marketing