Our new consumer survey found that Americans expect more — much more — than they once did of the companies that collect their personal information online. In part, that’s because they’ve acquired a hard-earned “identity literacy,” whereby they’re more familiar with the risks of sharing their personal information with organizations online. In our previous post, we highlighted major findings from our consumer research, including:
- Americans want to know more about why and how their information will be used; are skeptical that organizations need as much personal information as they’re collecting; and aren’t confident that businesses are up to the task of protecting it.
- They have high expectations of companies to be transparent about data collection and usage and to have industry-leading anti-fraud measures in place to protect their data and identities.
Nearly two out of three Americans believe threats to their personal information are growing faster than businesses and organizations can keep up. If you’re one of those businesses or organizations, AU10TIX is here to help you stay ahead of the curve.
At the end of the day, your consumers want to be able to trust that their data is in good hands. Many of them have also personally experienced data breaches, and are now more likely to demand full control over their personal data — if they don’t have it, they’re also willing to take their business elsewhere.
What do these shifting consumer demands mean for the organizations that engage with them at verifiable moments? Our research uncovered new rules for data and corporate responsibility. We also see a data imperative emerging: trust over transaction. Consumers are looking for businesses to take more responsibility to safeguard and communicate about the information they collect. This calls for businesses to not only educate consumers about how their data is being used but also provide people with greater choice over what and how they share personally identifiable information.
While data privacy laws have been passed in some states, others have not yet set out clear boundaries and laws for handling consumer data. This is giving companies more freedom to do what they want with consumer data.
If yours is a business, organization or government that engages in digital transactions that require customer identity verification and re-verification, now is the time to nurture your consumers’ appetite to protect their personal information and conduct safer transactions.
To deliver this, each verifiable moment in your customer’s journey should be supported by technology that balances fraud prevention, regulatory compliance and consumer experience.
Brands like PayPal, Google and Uber have partnered with AU10TIX to 100% automate their data security and identity management solutions. Our identity intelligence stack keeps their identity intelligence tactics aligned with their company’s overarching risk strategy and evolving business priorities, and provides multiple lines of defense for increasingly complex fraud.
By partnering with AU10TIX to meet this new level of consumer criteria, you gain access to a platform that’s customized to your specific regulatory and compliance factors, internal risks, etc.
And you can know your customers intimately in seconds. Our KYC compliance and AML screening (like sanctions, politically exposed persons, and Office of Foreign Asset Control) happens almost instantly, without human dependency.
Our near-invisible identity verification moments also contribute to an effortless customer journey, as your customers will barely even remember the verification, in any workflow, app or channel. Our average verification time: 4.5 seconds.
Besides identity verification, we also handle identity reverification and age verification, providing a frictionless experience worth forgetting for the right reason.
To learn more about how AU10TIX can help you to verify better, convert more and worry less, read about AU10TIX technology and book a demo today.