Consumers Are Sick Of The Account Sign-Up Process, Study Finds

Here’s a warning for brands trying to get people to open accounts and subscribe to their emails: be careful.

People are becoming increasingly fed up with online the account creation experience, and 77% will switch to other sites if the process is less than optimal, according to a study by identity verification firm Trulioo.

That frustration is felt by all age groups in the U.S. and UK. And it exists across many industries.

Or instance, only 43% of consumers are fully satisfied with their experience opening financial services accounts. And even fewer — 37% — are happy with how with how retailers handle it. Overall, 44% are contented.

One major concern is security — 51% of consumers are very concerned about identity theft when they use financial services sites.

Moreover, 90% say security is a very important part of the experience, followed distantly by flexibility (60%) and seamlessness.

Similarly, 90% of retail shoppers cite security as a major issue, ahead of flexibility (59%( and seamlessness (59%). And 90% worry about identity theft.

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What’s more, 58% see online marketplaces as risker than other types of sites, and 58% are also concerned bout security an the potential for fraud when conducting a transaction, the study says.

“In such a competitive environment where consumers have infinite options online, businesses need to ensure they are providing consumers with a fast and seamless digital experience without placing their security and identity at risk,” said Zac Cohen, COO of Trulioo.

Trulioo surveyed 2,036 consumers, with 1,014 in the UK and 1,022 in the U.S.

 

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