New IDology Research Reveals Unauthorized Account Openings Increase 21%, Highlights The Impact of Growing Consumer Cyber Fears on Digital Account Openings

We’re excited to share the results of our Annual Consumer Digital Identity Study. For the fourth year in a row, we’ve surveyed a panel of 1,500+ consumers representative of the U.S. population to bring you data and valuable insights on the state of fraud and trust.

The insights we uncovered provide visibility into the experiences, preferences and practices trending among Americans as they navigate their digital lives, engage with new and existing online services and seek to establish trust in commerce.

This year, our research reveals that increasingly, consumer trust hinges on the ability of businesses to safeguard identities and keep consumer data private, particularly during online account opening and onboarding.

See some of our most impactful findings in our infographic below.

What Does This Mean for Businesses?

The pandemic changed everything yet nothing seems permanent and, for obvious reasons, it’s wearing on consumers. Simply put, we all crave some sense of normalcy. When a business gathers and
protects consumer data and relays security and ease to customers, it provides them with a virtual security blanket, something they can rely on during uncertain times or at least not worry about unnecessarily.

We’re at an intersection of fraud, trust, privacy, compliance and new customer engagement that continues to grow in both significance and complexity. Consequently, excelling in today’s environment requires embedding identity verification at the center of every digital interaction.

To learn more about how consumers view the threat of fraud, their expectations regarding privacy, why they doubt businesses can be good stewards of their data and what can be done to foster trust, especially during the online account opening and onboarding experiences, download the Fourth Annual Consumer Digital Identity study.

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