banking, identity theft, privacy, technology

Survey: Banking customers willing to share more personal information for more personalized service

Internet of Things and Other Tech Consumers Want from Banks: Survey (American Banker)

A global survey Cisco released Monday offers clues to the types of technology consumers want to use to interact with their banks. One finding was that 69% of U.S. consumers would provide more private information in exchange for more personalized service, higher security against identity theft, and greater simplicity in managing their finances. These enhanced services could harness “the internet of things” in which everyday objects transmit information to a network.

More specifically, 83% of consumers said they would be willing to provide details about their financial habits and have their banks be more active advisors in exchange for greater protection from identity theft. “There’s an awareness that identity theft is a very ugly thing to have happen and that banks are naturally going to be targets,” says Al Slamecka, marketing manager, Financial Services, for Cisco. Many U.S. consumers (53%) would be willing to offer up biometric identification like a fingerprint in return for better protection against ID theft.

More interesting findings at the link.

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