Digitizing the customer journey is a top priority for Dutch companies

Fraud prevention, security and privacy are important to Dutch consumers when online

27 July 2022
Experian presents its sixth annual Global Identity & Fraud Report. Here, Experian shares insights into how the use of technology helps to improve the customer experience. The report also examines the importance of anti-fraud measures to protect consumers as they deal with more and more aspects of their lives online.

Many consumers today manage their personal finances online, and shopping is also mostly done online. Consumer online spending has increased over the past three months and this trend is expected to continue.

Improve the customer journey
The Global Identity & Fraud Report shows that two-thirds of Dutch companies consider improving the online customer journey as their highest priority. However, many of the same companies are lagging behind in the digitalization of the customer journey. For example, less than a third of Dutch companies are improving their AI models, compared to almost 50 percent in Denmark and Norway.
As consumers learn more and more about the digital world, they are also more concerned about online fraud. Around 80 percent of Dutch consumers are moderately to very concerned about the risk of fraud during their online activities. It can be compared with neighboring countries such as Germany and Denmark. Meanwhile, only 57 percent of Dutch companies believe that their customers see security as a top priority when active online.

Security and privacy
82 percent of the Dutch consumers surveyed have never been exposed to online fraud. Nevertheless, security (80 percent) and privacy (82 percent) are still the two most important aspects when it comes to the online experience in the Netherlands. In addition, Dutch consumers have more confidence in shopping online with companies they trust. In the Netherlands, e-commerce companies, banks, credit card companies and fintech companies are the most trusted in their approach to online security issues and fraud cases. When a brand consistently delivers a positive digital experience, consumers will trust the organization to protect their data and minimize the risk of fraud, regardless of company size.

Identity recognition
Experian’s research also shows that consumers and businesses differ greatly when it comes to recognizing the identity of online customers. 64 percent of Dutch consumers find it very important or extremely important that a company can identify them during repeated online sessions. In contrast, less than a third (30 percent) of Dutch companies consider it a priority to be able to identify customers repeatedly. This can have an impact on the overall customer experience.
“It is a shared responsibility of consumers and businesses to ensure a safe and reliable online experience. Consumers should be aware of the risks they face online and practice good cyber hygiene,” he said. Veronica Flyckt, director of Experian Netherlands. “At the same time, companies can use solutions to bring recognition, fraud prevention and customer experience together on one platform. This allows them to prepare for changing risks and improve the customer journey.”

Additional Dutch findings from this year’s Global Identiy & Fraud Report include:

  • Consumers trust companies to take action to address online security issues. For example, most consumers in the Netherlands have experience with password protection and multi-factor authentication on websites they frequently visit.
  • AI seems to be increasingly acquired in the daily life of the digital consumer. Still have consumers in the Netherlands and Denmark have the least confidence in AI within EMEA. In addition, consumers in Norway, the Netherlands and Denmark trust interactions with humans rather than interactions with AI technology (such as a chatbot) when online.
  • In the EMEA region, online banking the most popular among consumers in Norway (almost 90 percent), followed by consumers in the Netherlands (85 percent).
  • Although the Dutch distrust certain online activities and value security, there are still many people who shop online and do their banking with online suppliers/companies that they trust.

“There must be a balance between protecting customers and a seamless digital experience. Experian is committed to supporting businesses with innovative solutions so they can quickly respond to changes in the customer journey while avoiding identity fraud risks,” concludes Flyckt.

The full Global Identity & Fraud Report can be downloaded here.

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