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 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.
60% of consumers have a higher expectation for their online experience than pre-pandemic, while 55% still say security is a top priority
82% of businesses say they now have a customer recognition strategy in place – up 26% since the start of the pandemic
74% of consumers chose physical biometrics as their preferred security method, with 72% still favoring a PIN code sent to a mobile device
60% of global consumers now use a mobile wallet – up from 53% pre-pandemic