Onfido Survey Reveals Businesses Must Establish Trust Online in Less Than 10 Minutes or Risk Losing Customers
October 21 2021 - 4:39AM
Business Wire
- France has the highest proportion of customers (94%) who are
comfortable accessing services and products online
- 8 in 10 people find accessing services with biometrics more
convenient and secure
Onfido, the global identity verification and authentication
company, today announces the results of a new study with Okta Inc.
(NASDAQ:OKTA), the leading independent identity provider. The
Digital by Default research report surveyed more than 1,000
respondents in France, and 4,000 respondents in the Netherlands,
the United States and the United Kingdom in September 2021.
The survey explored Internet users' relationship to digital
services and digital identity and revealed that businesses have
just 10 minutes to set up digital accounts or risk losing consumer
trust.
The surge of digital access
The significant growth in the adoption of digital services
throughout lockdowns and beyond has increased how comfortable
consumers are accessing online services. France and the U.K. have
the highest proportion of consumers who feel comfortable accessing
services online (9 in 10), and 43% of French respondents said they
feel more comfortable now versus before the COVID-19 pandemic.
When asked why they want to do something online vs in-branch,
the top three reasons were:
- I don’t have to travel (64%)
- I feel safer accessing services online because of COVID-19
(48%)
- I am not limited by opening hours (44%)
When asked which services were most important to have digital
access, the top three responses were:
- Banking and financial services (94%)
- Telecommunications (89%)
- Hotel and accommodation (80%)
The biggest concerns with online services
Businesses should not forget about the 6% who still have
concerns around accessing services online. French consumers had an
even split of concern between security (51%), and believing going
in-branch is still more convenient than accessing their accounts
online (49%).
Robust security and a seamless user experience are still
non-negotiables when it comes to building digital trust, but now
the speed of service has also become essential to the digital
consumer. Companies are now “on the clock” as 78% of French
consumers expect onboarding to new digital services to take no more
than 10 minutes. This is true across all industries; 88% want to be
able to approve a bank transaction in less than 10 minutes, 83%
want to be able to register for a gaming account, and 74% want to
book a car rental.
Modern identity verification in demand
The key finding of the study is that digital identity
verification is becoming the preferred option for consumers
accessing services. In the survey, 85% of French consumers who have
had their identity verified by submitting a photo of an identity
document said they would like to use this method again. Biometrics
is also emerging as the preferred option for digital consumers with
8 in 10 consumers saying they find biometrics such as a facial
biometric both convenient and secure. These positive experiences
are catalyzing a wider shift among all consumers, with 70% of
French respondents agreeing they would be open to using biometrics
to authenticate themselves instead of a password.
"From the moment a consumer visits a service provider's website
or downloads an app, they're evaluating whether the business can
deliver a trusted digital service, providing security and keeping
their data private,” says Mike Tuchen, CEO of Onfido.
“Businesses have just minutes to establish the confidence that
consumers expect in the digital world. Those that can offer low or
zero friction during verification and authentication will
positively differentiate themselves in a market where digital
services have become the norm and consumer trust breeds brand
loyalty."
If you would like to understand more about the shift in global
consumers’ expectations around digital verification and how brands
can best meet them without compromising on security download the
full report here.
About Onfido
Onfido is setting the new identity standard for digital access.
The company digitally proves a user’s real identity using
artificial intelligence (AI) by verifying a photo ID and comparing
it to the person’s facial biometrics. This is how Onfido gives
companies like Nickel (BNP Paribas Group), Europcar Mobility Group
and Getaround (ex Drivy) the assurance they need to integrate
customers remotely and securely. Businesses can verify their users
without compromising on experience, conversion, privacy, or
security.
Recognised as a global leader in AI for identity verification
and authentication, Onfido is backed by TPG Growth, Idinvest
Partners, Crane Venture Partners, Salesforce Ventures, M12 -
Microsoft’s venture fund, and others. Onfido has raised $200m in
funding, and with over 500 team members across eight countries, is
enabling digital access for some of the largest companies around
the world.
For more information: www.onfido.com/fr
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version on businesswire.com: https://www.businesswire.com/news/home/20211021005437/en/
Laura Noye press@onfido.com
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