Mobile IdentityA Global Perspective

The bulk of the world's wealth will soon fall into the hands of Generations X and Y. As the most connected generations ever, they're causing financial institutions to rethink the importance of trust and identity, especially on mobile devices.

Explore consumer attitudes in seven countries

Mobile Identity: A Global Perspective

United Kingdom

32%

of UK consumers have been affected directly or indirectly by identity theft

Global Average: 38%
62%

of those who are directly affected are likely to change providers

Global Average: 65%
49%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Being able to speak directly with a preferred/trusted adviser
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • Santander
  • Aviva
  • HSBC
  • Tesco
  • Lloyds TSB
  • Halifax
  • Lloyds Banking Group
  • Barclays
  • NatWest
  • Nationwide
40%

of UK citizens like the idea of federated identity

Global Average: 45%
59%

of UK citizens like the appeal of second-factor authentication

Global Average: 66%
41%

of UK citizens like the idea of mobile digital signature

Global Average: 50%
$17(USD)

is the median price UK consumers would pay for smarter authentication

Global Average: $11.60(USD)
Around one-third of UK consumers have been affected by identity theft.
More than 50% are likely to defect because of it.

47%

On average, nearly half of UK consumers find the range of new authentication methods appealing.

Room for improvement

UK consumers are unlikely to recommend their financial institutions, and this may have some relationship with their security mechanisms.

Moderate

UK financial institutions are performing well on some, but not all, security factors that matter to their customers.

United States

38%

of US consumers have been affected directly or indirectly by identity theft

Global Average: 38%
60%

of those who are directly affected are likely to change providers

Global Average: 65%
47%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Being able to speak directly with a preferred/trusted adviser
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • Citibank
  • Bank of America
  • Chase Bank
  • U.S. Bank
  • PNC
  • Wells Fargo Bank
  • Capital One
  • Discover
  • Capital One 360
  • American Express
  • Fidelity Investments
  • USAA
44%

of US citizens like the idea of federated identity

Global Average: 45%
58%

of US citizens like the appeal of second-factor authentication

Global Average: 66%
53%

of US citizens like the idea of mobile digital signature

Global Average: 50%
$20(USD)

is the median price US consumers would pay for smarter authentication

Global Average: $11.60(USD)
Over one-third of US consumers have been affected by identity theft.
More than 50% are likely to defect because of it.

52%

On average, nearly half of US consumers find the range of new authentication methods appealing.

Getting there

While US consumers show low to moderate likelihood to recommend their financial institutions, they appear generally happy with their security mechanisms.

Moderate

US financial institutions are performing well on some, but not all, security factors that matter to their customers.

Australia

29%

of Australian consumers have been affected directly or indirectly by identity theft

Global Average: 38%
66%

of those who are directly affected are likely to change providers

Global Average: 65%
52%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Being able to speak directly with a preferred/trusted adviser
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • ANZ
  • AMP/AMP Banking
  • National Australia Bank (NAB)
  • Westpac
  • Commonwealth Bank
  • BankWest
  • ING Direct
42%

of Australian citizens like the idea of federated identity

Global Average: 45%
63%

of Australian citizens like the appeal of second-factor authentication

Global Average: 66%
46%

of Australian citizens like the idea of mobile digital signature

Global Average: 50%
$13(USD)

is the median price Australian consumers would pay for smarter authentication

Global Average: $11.60(USD)
Around one-third of Australian consumers have been affected by identity theft.
More than 50% are likely to defect because of it.

50%

On average, nearly half of Australian consumers find the range of new authentication methods appealing.

Getting there

Australian consumers are generally positive about their financial institutions, with a similar level of satisfaction about their institutions' authentication methods.

Strong

Australian financial institutions are performing well on almost all security factors that matter to their customers.

Singapore

31%

of Singaporean consumers have been affected directly or indirectly by identity theft

Global Average: 38%
79%

of those who are directly affected are likely to change providers

Global Average: 65%
69%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • CIMB
  • AIA
  • HSBC
  • Great Eastern
  • MayBank
  • NTUC Income
  • AXA
  • Aviva
  • Amex
  • Citibank
  • Prudential
  • UOB
  • Standard Chartered
  • OCBC
  • POSB/DBS
43%

of Singaporean citizens like the idea of federated identity

Global Average: 45%
70%

of Singaporean citizens like the appeal of second-factor authentication

Global Average: 66%
47%

of Singaporean citizens like the idea of mobile digital signature

Global Average: 50%
$8(USD)

is the median price Singaporean consumers would pay for smarter authentication

Global Average: $11.60(USD)
Around one-third of Singaporean consumers have been affected by identity theft.
Approximately three-quarters are likely to defect because of it.

53%

On average, just over half of Singaporean consumers find the range of new authentication methods appealing.

Room for improvement

Singaporean consumers show moderate satisfaction with their financial institutions' security mechanisms.

Moderate

Singaporean financial institutions are performing well on some, but not all, security factors that matter to their customers.

Indonesia

51%

of Indonesian consumers have been affected directly or indirectly by identity theft

Global Average: 38%
87%

of those who are directly affected are likely to change providers

Global Average: 65%
84%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • PT Bank Danamon Indonesia
  • PT Bank CIMB NIAGA Tbk.
  • PT Prudential Life Assurance
  • Bank Rakyat Indonesia
  • Bank Negara Indonesia
  • Bank Mandiri
  • PT AXA Mandiri Financial Services
  • Bank Central Asia
61%

of Indonesian citizens like the idea of federated identity

Global Average: 45%
77%

of Indonesian citizens like the appeal of second-factor authentication

Global Average: 66%
70%

of Indonesian citizens like the idea of mobile digital signature

Global Average: 50%
$7(USD)

is the median price Indonesian consumers would pay for smarter authentication

Global Average: $11.60(USD)
Around one-half of Indonesian consumers have been affected by identity theft.
More than eight in ten are likely to defect because of it.

69%

On average, nearly seven out of ten Indonesian consumers find the range of new authentication methods appealing.

Room for improvement

Indonesian consumers have modest levels of satisfaction with their financial institutions and the security methods they use.

Moderate

Indonesian financial institutions are performing well on some, but not all, security factors that matter to their customers.

Malaysia

46%

of Malaysian consumers have been affected directly or indirectly by identity theft

Global Average: 38%
89%

of those who are directly affected are likely to change providers

Global Average: 65%
80%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Being able to speak directly with a preferred/trusted adviser
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • Great Eastern Life Assurance (Malaysia) Berhad
  • AIA Bhd
  • Hong Leong Bank Berhad
  • RHB Bank Berhad
  • CIMB Bank Berhad
  • HSBC Bank Malaysia Berhad
  • Public Bank Berhad
  • Prudential Assurance Malaysia Berhad
  • Citibank Berhad
  • Maybank
48%

of Malaysian citizens like the idea of federated identity

Global Average: 45%
78%

of Malaysian citizens like the appeal of second-factor authentication

Global Average: 66%
55%

of Malaysian citizens like the idea of mobile digital signature

Global Average: 50%
$3(USD)

is the median price Malaysian consumers would pay for smarter authentication

Global Average: $11.60(USD)
Almost one-half of Malaysian consumers have been affected by identity theft.
On average, more than eight in ten are likely to defect because of it.

60%

On average, one in six Malaysian consumers find the range of new authentication methods appealing.

Room for improvement

Malaysian consumers show moderate satisfaction with their financial institutions' security mechanisms.

Strong

Malaysian financial institutions are performing well on most security factors that matter to their customers.

Hong Kong

27%

of Hong Kong consumers have been affected directly or indirectly by identity theft

Global Average: 38%
71%

of those who are directly affected are likely to change providers

Global Average: 65%
67%

of those who are indirectly affected are likely to change providers

Global Average: 54%
  • Being able to speak directly with a preferred/trusted adviser
  • Clear data security policies
  • Provider's reputation for data security
  • Confidence in the security and privacy of financial interactions
  • Level of trust to keep personal data secure
  • The degree of control allowed over my financial products
  • Easy to use self-service tools to manage financial activities
  • Convenience of proving my identity to access my accounts
  • Level of trust to keep my finances secure
  • Speed of access to my accounts
  • Dah Sing Bank Limited
  • The Bank of East Asia Limited
  • AIA
  • China Construction Bank (Asia) Corporation Limited
  • Citibank (Hong Kong) Limited
  • Fubon Bank (Hong Kong) Ltd.
  • Bank of China (Hong Kong) Ltd.
  • Prudential
  • Manulife
  • HSBC
  • Standard Chartered Bank
  • Hang Seng Bank Limited
  • DBS Bank (Hong Kong) Ltd.
  • The Hongkong and Shanghai Banking Corp. Ltd.
36%

of Hong Kong citizens like the idea of federated identity

Global Average: 45%
54%

of Hong Kong citizens like the appeal of second-factor authentication

Global Average: 66%
35%

of Hong Kong citizens like the idea of mobile digital signature

Global Average: 50%
$13(USD)

is the median price Hong Kong consumers would pay for smarter authentication

Global Average: $11.60(USD)
Just over one-quarter of Hong Kong consumers have been affected by identity theft.
More than two-thirds are likely to defect because of it.

42%

On average, around four in ten Hong Kong consumers find the range of new authentication methods appealing.

Room for improvement

Hong Kong consumers are unlikely to recommend their financial institutions, and this is reflected in relatively low satisfaction with identity and authentication methods.

Poor

Hong Kong financial institutions are not performing well on the security factors that matter to their customers.