Decoding consumer concerns in a mobile world

The Coronavirus pandemic has resulted in a major shift toward a more digital lifestyle. With lockdowns and social distancing forcing many people to stay at home, retailers and businesses have had to move online to survive. Waves of new accounts were opened online – a recent report, GBG State of Digital Identity: 2020, reveals that 47 percent of consumers opened an online shopping account in 2020, and 31 percent opened a bank account.

Mobile penetration is higher than ever, too, and businesses everywhere have cited an increase in mobile account sign-ups. But this influx of valuable personal data has opened up a window of opportunity for fraudsters. Half of people working in financial services say fraudulent activity is on the rise, and a similar number of consumers believe that levels of fraud have increased.

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