Smarter, Multi-Layered Identity Verification

4th Annual Consumer Digital Identity Study

Inside the Mind of the Insecure, COVID-Weary Consumer

Customer fatigue has undoubtedly impacted Americans' practices and preferences relative to the security of their identities particularly their willingness to hand over personal information. We also observed a growing need for trust-based online relationships, which was evident in the level of protection consumers expect companies to put in place to safeguard their data and ensure privacy.

This report pays close attention to how consumers view the threat of fraud and the never-ending waves of cyber breaches. We also spotlight consumer expectations regarding privacy, why they do not trust businesses to be good stewards of their data, and what can be done to foster trust, especially during the online account opening and onboarding experiences.

From our vantage point, this survey shows that the intersection of fraud, trust, privacy, compliance, and new customer engagement continues to grow in its significance. Consequently, excelling in today's environment requires embedding identity  verification at the center of every digital interactions.

Sample insights from the study:

  • How unprepared Americans are to protect themselves once their identity is compromised and what that means for businesses.
  • 96 million Americans have become victims of phishing attacks since the beginning of the pandemic, with 59% who received a phishing email reporting they had received six or more since March 2020.
  • Why 61% of consumers are "very" to "extremely" concerned over the potential for their personal information to criminals.
  • How identity theft was top of mind for Americans due to fraudulent online account openings in the last 12-18 months.

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