Data from The Barmard Institute reveals[1] an average of 70.19% of consumers dropped out of transactions last year.
25% of those dropping out citing information security concerns as a reason for doing so, and a further 22% complaining about high levels of inputs and data entry requirements.
A new opinion piece by Martin Zeisel, Principal Consultant, Payment and Identity at Netcetera, argues that BFSIs must take a comprehensive, orchestrated approach to identity management and authentication to solve this problem.
[1] The Baymard Institute, July 2023: “Cart Abandonment 2024”
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