80% of consumers prefer identity verification when selecting brands online

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Jumio has released the results of its global study conducted by Opinium, which shows the impact of the growing use of digital identity on consumer preferences and expectations.

The research surveyed 8,000 adult consumers spread evenly across the UK, US, Singapore and Mexico. He revealed that 57% of consumers around the world now have to use their digital identity “constantly” or “often” to access their online accounts after the pandemic. Consumers in Singapore report the highest level of digital identity use (70%), as opposed to the UK (50%), US (52%) and Mexico (55%). ).

Requesting a digital identity as a form of verification

As providing a digital identity to create an online account or complete a transaction is becoming more common around the world, consumers now expect it to be part of their engagement with a brand, especially in certain industries. . 68% of consumers believe it is important to use a digital identity to prove who they say they are when using an online financial service, followed closely by healthcare providers (52%) and social media sites (42%).

While all markets were united in the fact that financial services is the most important sector for robust identity verification, Mexican consumers consider it an important step when interacting with brands. sharing economy (49%). UK consumers think it should be mandatory when shopping online (40%). When it comes to more sensitive personal data, consumers have indicated that robust identity verification becomes even more important.

Leaders and laggards: Some industries need to improve their use of digital identity

Although more and more consumers are demanding digital identity solutions for verification when interacting with businesses online, they are not convinced that all businesses are doing everything they can to protect their online accounts. .

34% of consumers believe their bank has implemented more online identity verifications since the pandemic to protect them against online fraud and identity theft. Similarly, in gaming and gambling, 41% of consumers say they are “confident” that providers are doing what they can to accurately verify identities and prevent identity-related fraud.

Online identity verification can improve trust in service providers and social platforms

While digital identity solutions are recognized as important in preventing identity fraud, consumers have other concerns that these solutions could address. In healthcare, 32% of consumers are most concerned about not knowing the identity of the healthcare professional they are engaging with. This is also a particular concern for Mexican consumers (45%).

In the social media space, 83% of consumers believe it is important for social media sites to verify identities so that they can hold users accountable for hate speech/comments online. Thus, the use cases and benefits of digital identity go beyond simple fraud prevention and could provide a solution to broader consumer concerns.

“As our use of online services continues to grow, organizations are clearly implementing the robust identity verification methods needed to prevent the risks associated with virtual services,” said Philipp Pointner, Chief Digital Identity Officer. at Jumio.

“But this research also reveals the demand for digital identity solutions – particularly in financial services and healthcare spaces – and is now clearly a point of differentiation. Implementing these types of solutions should be a “when not a “maybe” and will now ultimately determine whether a consumer chooses your business over another.”

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