Ping Identity, a leading provider of seamless and secure digital experiences, released its annual survey that evaluates consumer sentiment around engaging with brands online. The report surveyed 500 respondents in Singapore and found a need for easier and more secure capabilities that address concerns around identity theft and simplified access.
Expanding on trends from last year’s report, consumers emphasised their need for convenience online, but continue to place value on effective security strategies. According to the findings, 73% would switch to a comparable brand if it offered a passwordless authentication method, such as a one-time login.
“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,” said Jasie Fon, Regional Vice President of Asia at Ping Identity. “Businesses that prioritize easy, personalized experiences while alleviating security concerns will win a competitive edge.”
Key findings underline the importance of ease of use:
- 89% of Singaporeans have more than one password across multiple logins, only 16% of Singapore correspondents are using unique passwords for everything.
- 66% are still storing passwords by memory alone for their personal activity, while 48% are noting it in their phones, 41% are using an Inbuilt password manager and 40% are writing them down.
- 73% of consumers would leave an online service to switch to a competitor if the competitor’s login process was significantly easier.
While consumers want simple digital experiences, they also want to know their data is secure, especially given the recent proliferation of artificial intelligence (AI):
- 75% of Singaporeans have confidence in the national government’s ability to store securely and responsibly utilise their digital identity and credentials.
- 40% of consumers have full trust in the organisations that manage their identity data, with the most trust in banks (71%) healthcare services (58%) and insurance companies (50%).
The findings detailed in this report are based on responses collected from 500 respondents from Singapore in July 2023 to learn more about consumer attitudes around their digital experiences, from engaging with brands to their security preferences.
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About Ping Identity
Ping delivers unforgettable user experiences and uncompromising security. We make crafting digital experiences simple for any type of user—partners, customers, employees, and beyond. We are anti-lock-in. That means integration with existing ecosystems, clouds, and on-prem technologies is simple. Out-of-the-box templates let businesses leverage our identity expertise to give their users frictionless experiences. Whether they’re building a foundation of modern digital identity, or out-innovating their competitors with cutting-edge services like digital credentials, AI-driven fraud prevention and governance, Ping is the one-stop shop for game-changing digital identity.
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