In a noisy digital world, capturing the attention of online users can seem impossible. While a 2015 study claimed that the average consumer’s attention span had shrunk to just 8 seconds, a more recent global study by Yahoo and OMD Worldwide shows that Gen Z consumers lose active attention for ads after just 1.3 seconds—less time than any other age group.
Financial institutions are always looking for ways to attract more online users and earn new business by delivering the value consumers want and need. If you want to grow your customer base, add identity protection to the financial services you already offer. Providing complementary identity protection solutions alongside your existing service offerings can make your business more marketable and attract more new customers. This is a great way to earn more market share while delivering value that consumers want.
What do consumers want?
Consumers want control over their data and personal information from a company they trust. Research shows they are more likely to partner with a brand they’re already loyal to, such as their bank. 57% of consumers would like their primary financial institution to provide or offer an identity protection service.
In addition, consumers have indicated interest in having all their financial data accessible in one place. In this same vein, an all-in-one identity protection solution that reduces risk and gives consumers more control over how their data is used online is a convenient, in-demand solution that can help decrease vulnerability and limit online exposure.
Consumers want these high-value, high-demand tools, and data shows that they are willing to pay for it. 89% of consumers want more control over how their data is collected and used online, and 82% are willing to invest time and money to better protect their privacy.
While proactive services for identity protection are important, not all fraud incidents can be avoided. In addition to providing anticipatory protection solutions, consumers need a response plan in place if they experience an identity theft or fraud event.
Proactive protection and reactive restoration
Unfortunately, victims of identity theft spend an average of 6.3 hours resolving identity fraud. With identity protection and restoration services in place, you can assure potential new customers that if the worst should happen, you can help them reclaim their exposed information and restore their identity.
For example, consumers can save up to 177 hours of time by using Experian’s Digital Identity Manager, a tool that helps protect consumer data and reduce vulnerability to theft. Resources like these, coming from a trusted source, can put consumers’ minds at ease and make it easy for them to decide to do business with you.
Identity protection from a trusted source
Consumers are seeking protection from identity thieves, and they expect it from a trusted source. Offering Experian’s Identity Protection Services can help you stand out by providing valuable financial security to new customers, encouraging more new names to do business with your company.
Identity Protection Solutions from Experian are best-in-class, and we have the results to prove it:
- 96% of active Experian subscribers with a free bundle were still subscribed after 12 months (Experian data, August 2023)
- 90% of active Experian subscribers with a paid bundle were still subscribed after 12 months (Experian data, August 2023)
- Less than 1% churn rate with fewer than 100 service call
 Javelin Strategy and Research, 2022.
 Cisco 2022 Consumer Privacy Survey, 2022.
 Javelin, 2023 Identity Fraud Study.
 Experian Data, average user experience with Digital Identity Manager, May 2023.
This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal issues or financial issues involved with credit decisions.