Its All About Attitude: Online Security

  • Identity Verification, Security

The digital revolution is almost in full-swing and consumers are logging in online to handle everything from shopping to personal financing. As more consumers are creating online accounts to carry out daily tasks, businesses must keep up with this trend. From social media to mobile apps, businesses are doing everything they can to keep their head above water during this online revolution. With consumers and businesses are making the transition online, one of the biggest concerns both parties have is with online security. In an infograpahic created by BT.com, it outlines usage of financial institutions online. Forty-four percent of financial institutions are using more than four providers and 66% of consumers consider themselves very to extremely concerned about security of their personal information online.

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As the increased of usage of financial institutions online rises, companies must apply fraud prevention systems to protect their users. Even though most people are using four or more providers online, 43% of these financial institutions are only using one token of authentication.

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This can raise some concerns for online users who are weary of sharing their personal information online. So why arent companies using better and more identity verification and authentication? Companies want simple, effective fraud prevention solutions. Ninety-one percent of companies want a single, stronger authentication method for online services. Companies need better online security, but are wanting a single solution. By implementing real time identity verification and authentication, companies can help prevent fraudulent activity on their platforms. Once companies can provide this security for their consumers, they will be more likely to use the online platform freely without concern.


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[Contributed by EVS Marketing]