A digital trust survey showed that banks, healthcare and government are the most trusted by consumers. The media and entertainment industries, however, performed the worst.
Thales, a leading global technology and security provider, today announces the results of the Thales Digital Trust Index 2024. The study shows that the banking sector is the most trusted when it comes to protecting personal data and providing trusted digital experiences. The media and entertainment industry, social media and logistics companies are at the bottom of the industry rankings.
Consumers value data security and privacy
Thales surveyed 12.426 consumers worldwide (1.039 of them from Germany) about their relationship with online brands and services, their privacy expectations and how brands can gain consumer trust.
Danny de Vreeze, Vice President, Identity and Access Management at Thales, commented on the results: “Consumers have more trust in banks, healthcare and government services when it comes to sharing their personal data
goes - a general trend that we observed in each of the markets examined. This development is in line with expectations given how heavily these industries are regulated, the types of information they have to handle and the measures they have taken to protect consumers' data. While companies regardless of industry are subject to international data protection laws, those lower in the rankings are subject to fewer policies directly related to data security and privacy. As more companies expand their digital presence, there are lessons to be learned for non-regulated industries given changing consumer preferences.”
Towards better digital trust
The study shows that the vast majority of customers (89% overall; 91% in Germany) are willing to share their data with companies, but with some important caveats.
More than four out of five respondents (87% overall and in Germany) expect some level of data protection rights from the companies they interact with online. The most important requirement is the right to be informed that personal data is being collected (55% overall; 47% in Germany), closely followed by the right to delete personal data (53% overall; 54% in Germany).
Other data protection rights highlighted in the report that are emphasized are as follows:
- 39% (36% in Germany) expect the right to correct their personal data
- 33% (32% in Germany) expect the right to request a copy of their personal data
- 26% (21% in Germany) expect the right to transfer data from one platform to another
The results confirm that the right to data protection and security is an essential requirement. More than a quarter of consumers (29% overall; 25% in Germany) have even turned away from a product or brand completely in the last 12 months because it required them to reveal too much personal data. About a quarter (26% overall; 23% in Germany) also turned away from a brand or service because they had concerns about how their personal data was being used.
Security and user experience create trust
The study shows that in addition to demanding data protection, companies must also offer a seamless online experience in order to gain the trust of their customers.
Advertising pop-ups were cited as the biggest annoyance (71% overall; 57% in Germany), closely followed by re-entering passwords (64% overall; 53% in Germany) and re-entering personal information (64% overall). ; 56% in Germany). Complex cookie options were also cited as a significant frustration factor by 59% (47% in Germany) of respondents.
Additionally, the study found that today's consumers are increasingly time conscious: more than a fifth (22% overall; 18% in Germany) said they abandon an online interaction within a minute if they have one have had a frustrating experience.
About the Study
The study was carried out by Censuswide in collaboration with The Red Consultancy on behalf of Thales. 12.426 adults in Germany, Great Britain, the USA, Brazil, Japan, Canada, France, Australia, Singapore, the Netherlands, Australia, South Africa and the United Arab Emirates were surveyed. Censuswide supports and employs members of the Market Research Society and adheres to the MRS Code of Conduct based on the ESOMAR principles.
More at Thalesgroup.com
About Thales
Thales is a global leader in cutting-edge technologies in three areas: defense and security, aerospace and digital identity and security. The company develops products and solutions that help make the world safer, greener and more inclusive. The group invests almost €4 billion annually in research and development, particularly in key areas such as quantum technologies, edge computing, 6G and cybersecurity.