CRM/ERP Data Driven Insights, Data Quality

Data management issues due to COVID

New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

2021 Global Data Management Research

2021 Global Data Management Research

The global health crisis has caused enormous demands on data in the marketplace, find out how data experts think you should be preparing for the future.

 

Topics include:

  • Why data is important for rapid digital transformation
  • Was the data ready for a pandemic-driven market
  • How to prepare your data for the future
  • 93 percent of companies had data management issues as a result of the global health crisis. How will you solve your data challenges?

Trustworthy data has provided businesses a stable foundation, even in economic distress. Building resilience on data can protect businesses now and in the future. Today is the day to be data driven.

Read full article

Sound interesting? Follow us for regular, published insights

Experian

By Experian 02/25/2021

2021 Global Data Management Research

Related Articles

The Genesis of Managing Risk Data and the surrounding Regulations
The Genesis of Managing Risk Data and the surrounding Regulations

Meet your BCBS239 and CPG235 requirements with a solution from Experian and Novofinity. Leveraging previous implementations and years of insight.

Learn more
Why improving data quality is a top trend
Why improving data quality is a top trend

This past year, business have realised the importance of data quality, and how data and data insights are key to adapting to drastic market changes.

Learn more
Data validation for eCommerce
Data validation for eCommerce

Improving satisfaction, increasing revenue, and reducing costs for your eCommerce business

Learn more

Please complete the form below to access the research.

  • Download Now
By providing your personal information you agree that we may collect and process it in accordance with our Privacy Statement.