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Singaporeans value seamless, secure digital experiences, survey finds
Wed, 3rd Apr 2024

Ping Identity, the provider of secure digital experiences, has revealed findings from its annual survey examining the sentiments of consumers when engaging with brands online. The report indicates a majority of Singaporeans value simple, seamless, and secure digital experiences, and owuld switch brands to find them.

The survey, involving 500 respondents from Singapore, uncovered a desire for more accessible and secure features which address worries surrounding identity theft and streamline online access. With a notable expansion on trends from last year's report, consumers underline their need for online convenience yet continue to value effective online security measures. Overall, security groundwork like passwordless login solutions could actively sway customer loyalty, as 73% of Singaporeans would consider switching to a competitor if they offered a passwordless authentication method, such as a one-off login.

Jasie Fon, the Regional Vice President of Asia at Ping Identity, acknowledged the pivotal role of effortless and secure online experiences in cultivating customer loyalty. He stated, "In the digital age, customer loyalty hinges not only on a frictionless experience but on the assurance of security. These findings show how passwordless solutions can bridge the gap between security and experience to foster long-term trust. Businesses that prioritize easy, personalized experiences while alleviating security concerns will win a competitive edge."

Key findings from the survey indicate that 89% of Singaporeans have multiple passwords across various logins, yet only 16% use unique passwords for every account. A significant 66% still memorise passwords for personal activities while 48% record them in their phones, 41% use inbuilt password managers, and 40% write them down. A significant proportion, 73%, would switch to a competitor if their login process was easier.

While customers are keen on simpler digital experiences, they also need reassurances regarding their data's security, particularly given the recent surge of artificial intelligence (AI). Therefore, trust in organisations handling their digital identities is crucial. The survey shows that 75% of Singaporeans have faith in their national government’s ability to securely and responsibly store their digital identify and credentials. Furthermore, 40% of consumers place full trust in organisations managing their identity data, with banks enjoying the highest level of trust at 71%, followed by healthcare services at 58%, and insurance companies at 50%.

The data presented in this report highlights the need for businesses to focus on delivering user-friendly and secure digital experiences to maintain customer loyalty. Making the login process simpler and more secure could make a significant difference to a company’s customer retention rates.