A new survey from Ping Identity has revealed Australian consumers increasingly want frictionless online login experiences without sacrificing the security of personal information.
With 60% feeling better about services that use multi-factor authentication at login, it is clear that businesses across all industries must provide convenience without sacrificing security to win over consumers.
"Despite the digital transformation Australian some organisations underwent during the pandemic, financial pressures and resourcing constraints have impacted their ability to execute their broader strategy, resulting in many brands still struggling to engage their customers in a secure and convenient way," says Ashley Diffey, Head of APAC and Japan, Ping Identity.
"The data makes it clear that the companies who prioritise simple online experiences while providing meaningful security controls to ensure personal data is protected will be the ones to thrive long term," Diffey says.
Key Australian findings underscore the importance for brands to make it fast and simple for consumers to engage with their digital channels without sacrificing personal privacy:
Customers will abandon accounts with inefficient logins
61% would switch to a competitor if the login experience was easy
63% have abandoned an online experience when the login process was too frustrating
Only 35% have said their typical login experience has been very efficient
Customers want one-click convenience with enhanced protection
60% feel better about a service that uses MFA.
64% think banks and medical sites should have the same easy login as social media
54% feel more in control of their online information when using social media or email to login
59% would use social media or email login if it had superior security
Fraud impacts how customers choose to engage with brands
78% feel they will never be fully in control of their personal info online
57% who have experienced fraud are more cautious about revealing information, while 30% look for accounts that use MFA or offer alternative ways to login (22%)
43% have experienced fraud as a result of having personal info stolen online
37% are more concerned about fraud during the holiday season.
Customers are curious about digital IDs
48% are comfortable with the idea of a digital identity card that stores all of their personal information securely and allows them to share it electronically
53% would prefer to keep a digital ID card on a personal device rather than in the cloud
The Ping Identity Consumer Survey asked more 600 consumers in Australia about their login and account creation experiences, their attitudes toward safety and convenience when signing into online accounts, and their interest in control over their personal information online.