With more data security concerns coming to light, customers grown more discerning in their vendor and service selection processes. A report by Avaya and Sabio spoke with 2,000 U.K. customers and found that 46 percent were worried about high-level data breaches at financial institutions, while 40 were worried about mobile operators and 37 percent retailers. The largest risk actually came from contact centers, according to the report, which 45 percent citing as a prevalent starting point to fraud. Computerworld UK, which reported on these statistics, said the survey claimed banks are actually losing out on business due to the data security fears.
"The research suggests that consumers are becoming increasingly security savvy, said Kenneth Hitchen, founding director of Sabio, the website said. "Businesses need to build back confidence in traditional transactions methods. Customer service technology can help them achieve this, whether creating confidence in the secure nature of their own contact center organizations or encouraging the merchants that depend on their transaction services to do the same."
Separate findings from this report show:
- A mere 5 percent believe it is secure to provide bank details over the phone
- 81 percent said they would be more confident entering a password on a keypad for authentication while 51 percent were happy to use voice authentication
- 55 percent were frustrated the bank didn't have a fully-integrated contact center
- 51 percent said they were put off by providers requiring too many passwords and security details
Simon Culmer, UK managing director for Avaya, told Computerworld UK that customer trust in technology is key going forward, so businesses should make sure their clients know what they have in place and how they are securing their information. Tools should be used to reassure customers in their concerns while improving the client experience and driving down the cost of interactions with customers.
Customer choice moving forward
Those who visit these businesses and websites will have to use their power of choice to drive how the future of of data security and privacy moves. Galen Gruman wrote on InfoWorld that personal information has become a big business for companies online, as many have been too cheap to pay with money.
"You pay indirectly," he wrote. "For years, you paid through higher prices on what you bought, with those hidden charges used to pay for the ads that were believed to have swayed your business. In some cases, such as the print edition of InfoWorld discontinued in 2007, you provided business data such as title, contact information, and purchasing intent and authority in return for a "free" subscription that you paid by fielding sales calls from advertisers who had a gross notion of what you might buy — a business model called controlled circulation. (You could also pay for a subscription with money, though few did.)"
Gruman said there are signs that users and governments are starting to wake up to the privacy treasure troves their lives have become, as the Federal Trade Commission has urged app developers to improve their data collection and be more transparent, A new revision to the U.S. Health Information Portability and Accountability Act (HIPAA) has also been added to govern how data is collected at hospitals.
As grow accustomed to exchanging personal information for "free" services, Gruman said there is more encouragement for advertisers to go after more data. However, he said it seems that the general public is starting to wake up to the information state that is emerging and it will now be up to the collective masses to decide what data they want to give up and what they hold sacred.
Consumerization News from SimplySecurity.com by Trend Micro.