Onfido Survey Reveals Businesses Must Establish Trust Online in Less Than 10 Minutes or Risk Losing Customers

• France has the highest proportion of customers (94%) who are comfortable accessing services and products online
• 8 in 10 people find accessing services with biometrics more convenient and secure

PARIS--(BUSINESS WIRE)-- Onfido, the global identity verification and authentication company, today announces the results of a new study with Okta Inc. (NASDAQ:OKTA), the leading independent identity provider. The Digital by Default research report surveyed more than 1,000 respondents in France, and 4,000 respondents in the Netherlands, the United States and the United Kingdom in September 2021.

The survey explored Internet users' relationship to digital services and digital identity and revealed that businesses have just 10 minutes to set up digital accounts or risk losing consumer trust.

The surge of digital access

The significant growth in the adoption of digital services throughout lockdowns and beyond has increased how comfortable consumers are accessing online services. France and the U.K. have the highest proportion of consumers who feel comfortable accessing services online (9 in 10), and 43% of French respondents said they feel more comfortable now versus before the COVID-19 pandemic.

When asked why they want to do something online vs in-branch, the top three reasons were:

• I don’t have to travel (64%)
• I feel safer accessing services online because of COVID-19 (48%)
• I am not limited by opening hours (44%)

When asked which services were most important to have digital access, the top three responses were:

• Banking and financial services (94%)
• Telecommunications (89%)
• Hotel and accommodation (80%)

The biggest concerns with online services

Businesses should not forget about the 6% who still have concerns around accessing services online. French consumers had an even split of concern between security (51%), and believing going in-branch is still more convenient than accessing their accounts online (49%).

Robust security and a seamless user experience are still non-negotiables when it comes to building digital trust, but now the speed of service has also become essential to the digital consumer. Companies are now “on the clock” as 78% of French consumers expect onboarding to new digital services to take no more than 10 minutes. This is true across all industries; 88% want to be able to approve a bank transaction in less than 10 minutes, 83% want to be able to register for a gaming account, and 74% want to book a car rental.

Modern identity verification in demand

The key finding of the study is that digital identity verification is becoming the preferred option for consumers accessing services. In the survey, 85% of French consumers who have had their identity verified by submitting a photo of an identity document said they would like to use this method again. Biometrics is also emerging as the preferred option for digital consumers with 8 in 10 consumers saying they find biometrics such as a facial biometric both convenient and secure. These positive experiences are catalyzing a wider shift among all consumers, with 70% of French respondents agreeing they would be open to using biometrics to authenticate themselves instead of a password.

"From the moment a consumer visits a service provider's website or downloads an app, they're evaluating whether the business can deliver a trusted digital service, providing security and keeping their data private,” says Mike Tuchen, CEO of Onfido. “Businesses have just minutes to establish the confidence that consumers expect in the digital world. Those that can offer low or zero friction during verification and authentication will positively differentiate themselves in a market where digital services have become the norm and consumer trust breeds brand loyalty."

If you would like to understand more about the shift in global consumers’ expectations around digital verification and how brands can best meet them without compromising on security download the full report here.

About Onfido

Onfido is setting the new identity standard for digital access. The company digitally proves a user’s real identity using artificial intelligence (AI) by verifying a photo ID and comparing it to the person’s facial biometrics. This is how Onfido gives companies like Nickel (BNP Paribas Group), Europcar Mobility Group and Getaround (ex Drivy) the assurance they need to integrate customers remotely and securely. Businesses can verify their users without compromising on experience, conversion, privacy, or security.

Recognised as a global leader in AI for identity verification and authentication, Onfido is backed by TPG Growth, Idinvest Partners, Crane Venture Partners, Salesforce Ventures, M12 - Microsoft’s venture fund, and others. Onfido has raised $200m in funding, and with over 500 team members across eight countries, is enabling digital access for some of the largest companies around the world.

For more information: www.onfido.com/fr

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005437/en/

Laura Noye

press@onfido.com

Source: Onfido