Consumers’ evolving views and expectations on digital banking and e-commerce are informing strategies for both customer experience and tackling fraud
The rapid growth of both digital banking and e-commerce has brought on as many risks as it has opportunities. As fraud and scams increase and global regulatory authentication requirements surge, both financial institutions (FIs) and merchants are reevaluating their approaches to authentication.
In Global Consumers’ Authentication Preferences, a new series of reports on digital banking and e-commerce, research and advisory firm Aite-Novarica Group provides insights into consumers’ views on authentication methods that FIs, card issuers, and merchants can use to inform their strategies when fine-tuning the customer experience and tackling increasing fraud. These insights are based on a longitudinal survey conducted in 2018 and 2022.
“The old ways of securing the online experience are being traded for newer and sleeker authentication methods, such as biometrics,” said Gabrielle Inhofe, author of the new report. “Consumers are willing to participate in this changing landscape, but they are most keen to do so when they have choice and control over how they are authenticated.”
Previews for both reports on digital banking and e-commerce are available online, and desk copies are available to qualified media. Please contact [email protected] or call Kaitlyn Labbe at +1.857.327.9442 for more information.
About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us LinkedIn.