Unmasking the Implications of Trust, Friction and Fraud in the Digital Realm

Insights from the 3rd Annual Consumer Digital Identity Study

In this report, we focus on the need for trust, the onboarding process, and the implications for friction and abandonment, as well as the growing importance of mobile phones as a component of an individual’s identity and as a means of facilitating online interactions.

Trust (Still) Matters and Is Increasingly Critical

In an era when online access to digital services, transactions, and commerce not only continues to grow exponentially but has evolved to become a necessity to function in modern society, trust remains of critical importance for consumers and businesses alike. Consequently, trust or the lack thereof increasingly influences loyalty, customer preferences, and levels of engagement throughout the customer life cycle. Whether asked about their concerns regarding data breaches or if criminals could use their data to facilitate fraud, survey participants consistently expressed apprehension.

Sample insights from the study:

• What Americans are doing to protect their identities against fraud more than ever before
• Why online account abandonment, especially from the mobile channel is surged from 37% in 2018 to 48% in 2020
• How come 77% of Americans would be less likely to do business with a company where an account was opened without their authorization
• What matters most to Americans when they set up new online accounts and how it varies by age and income