Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .



Verint Study Finds that Nearly Half of Consumers Surveyed are Suspicious About Data Privacy

Consumers Expect Businesses to be More Transparent on How Their Data is Used

A global study of consumers reveals almost half (48%) are suspicious about how companies use their data. Based on a poll of more than 18,000 consumers across nine countries, the research—commissioned by Verint® Systems Inc. (NASDAQ: VRNT) and conducted by analyst and consultancy firm Ovum and U.K.-based research company Opinium—further finds that one in five consumers don’t trust any businesses to keep their information safe. This indicates that brands have some way to go to build consumer trust.

The findings also reveal considerable variation in levels of consumer scepticism over the use of their personal data by brands. (See included chart for a graphical depiction of concerns cited across geographies.)

suspiciousGiven the wide range of views held by consumers, the Verint study shows that companies need to ensure they tailor their engagements with customers regarding data assurance—particularly in more sceptical markets, such as the UK and Germany.

Nick Nonini, managing director, EMEA, Verint Enterprise Intelligence Solutions, comments, “Recent high-profile, data-related business cases have shed new light on the importance consumers attach to data protection. With this latest research, Verint has created a view into the ‘New Rules of Customer Engagement.’ Adopting such an approach can help ensure greater transparency over the use of customer data and help organizations build trust and confidence in this increasingly challenging environment.”

Long Track Ahead

This global study points to a long road ahead with a large proportion of consumers yet to be convinced that their main service providers have their data protection in check.

The research also finds that fewer than half of consumers (43%) trust their bank to keep their data safe, the highest of all the sectors covered by the survey. However, trust significantly declines to just two percent for online and in-store retailers and three percent for utilities companies.

“In today’s environments, organizations need to focus on laying foundations for customer relationships that are based on trust,” adds Nonini. “This comes down to getting the basics right, leveraging technology and analytics to better understand what is really on the minds of customers, and then working to help ensure the right resources are in place to address evolving needs, issues and requirements.”

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post