May 2021 | Decisioning | Decisioning, Fraud

The surge in digital demand over the past year reinforced the deep connection between recognition, fraud prevention and the online customer experience.

Experian’s 2021 Global Identity and Fraud Report shows that as more consumers go online, expectations for a secure experience are higher than ever and that the types of security consumers expect are shifting towards invisible protection.

Our research found that 2 out of 3 businesses have increased concern about the overall level of fraud since the pandemic. Unsurprisingly, security is still a top concern for Australian consumers, with 57% citing security as the most important aspect of their online experience. However, consumers are also looking for methods of data protection that are both convenient and trustworthy.

In a post-pandemic landscape, businesses that prioritise security in a convenient format will meet and exceed consumer expectations.

Experian’s 2021 Global Identity and Fraud Report explores business and consumer priorities in the wake of digital evolution. Based on input from 9,000 consumers and 2,700 business executives worldwide, we developed an understanding of the consumer expectation for easy, secure interactions and how businesses have worked to meet that demand.

Download the complete report to learn why:

45% of Australian consumers

have a higher expectation for their online experience than pre-pandemic, while 57% still say security is a top priority

79% of Australian businesses

say they now have a customer recognition strategy in place – up 24% since the start of the pandemic

65% of Australian consumers

chose physical biometrics as their preferred security method, with 68% still favouring a PIN code sent to a mobile device

60% of global consumers

now use a mobile wallet – up from 53% pre-pandemic

Complete the form below to download the full report of insights.