JAKARTA, Indonesia--(BUSINESS WIRE)--Jul 24, 2024-- (NYSE: FICO) This press release features multimedia. View the full release here: https://www.businesswire.
com/news/home/20240724401482/en/ 1 in 3 Indonesians have abandoned opening a personal bank account due to complex identity checks. (Graphic: FICO) Highlights Ease of use is the top priority for Indonesians, followed by good fraud protection Two in three consumers expect to answer 10 questions or less or they will abandon a savings account application Identity checks are on the rise but one in four Indonesians will stop or reduce the use of existing accounts if the identity verification experience is poor Global analytics software leader FICO today unveiled its latest global consumer fraud research, highlighting that consumers in Indonesia have a low tolerance for inefficient digital experiences when opening an account via mobile app or website. According to the study, Indonesians selecting a new financial account prioritise ease of use above all else.
Three in five (57%) expect to answer 10 questions or less or they will abandon a personal bank account application. Just over one in five (22%) will drop out if asked more than five questions. Regardless of the number of questions asked, close to one in three Indonesians will give up on a personal bank account application after 10 minutes.
More information: https://www.fico.com/en/latest-thinking/ebook/consumer-survey-2023-digital-banking-customer-preferences-and-fraud-cont.