Leading provider of seamless and secure digital experiences, Ping Identity has released its annual survey which found that Australian consumers seek easier and more secure capabilities that address concerns around identity theft and simplified access.
Consumers are emphasising their need for convenience online but continue to place value on effective security strategies. According to the latest findings, 81% say that ease of use is important to their digital experiences, 58% would switch to a comparable brand if it offered passwordless authentication, and 65% are most concerned about identity theft, ahead of financial loss (just 40%), when it comes to having their information online.
Ping Identity vice president of sales for APAC and Japan, Ashley Diffey said, “In today’s digital economy, consumers hold all of the power. Rather than simply accepting the product, service, price or conditions an organisation can offer, consumers are using the weight of their numbers to redefine the rules of engagement.
“Not only is there more competition among brands to see who can deliver the best digital experience, but consumers are more informed than ever. They know what they want from a positive digital experience – and are willing to leave for a competitor that does it better. To stay ahead of competition, businesses need to create easy, secure and personalised experiences that alleviate security concerns without collecting too much personal data.”
Underlining the importance of ease of use, well over half of Australian respondents (57%) have stopped using an account or online service because they became frustrated with the login process; a decrease from 63% in 2022. However, 40% of consumers would leave an online service to switch to a competitor if the competitor’s login process was significantly easier.
Six in 10 (60%) are still storing passwords by memory alone, with 58% admitting they have too many to keep track of.
While Australian consumers want simple digital experiences, they also want to know their data is secure. 53% are concerned about the possible use of AI technology to create fake impersonations and 53% say that the use of MFA makes them feel better about the service because it suggests that the business cares about protecting their data. Only 9% of consumers have full trust in the organisations they manage their identity data, with the most trust in banks (60%) and healthcare services (50%).