Financial institutions can increase adoption of online banking services by using segmented consumer security preferences to cater to certain subsections of their account holder base.
Primary Questions
Which authentication solutions resonate with non-online banking consumers?
What are the primary differences in security preferences among specific financial institution
account holder segments?
Which security solutions do consumers seek most prominently from financial institutions?
How can financial institutions capitalize on these differences and strategically offer flexible
authentication solutions?
Findings and Analysis
By offering flexible authentication solutions that allow for consumer choice, financial institutions
can entice non-online banking customers to adopt and utilize the online channel. Consumers
seek a combination of more proactive means—both detection and prevention—and resolution
capabilities from their financial institutions. Solution flexibility is becoming more readily available
to institutions through single vendor relationships.
Audience: Financial institutions’ marketing, online banking and risk/fraud divisions