Americans want security without complexity: 'You can do that, right?'

As much as Americans dislike data breaches, they are not big fans of security protocols, either.

In fact, 8 in 10 U.S. adults think that web and phone security measures are too complicated, according to new research by FICO and 72 Point.

The companies polled 2,000 American adults and found that:

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Courtesy of Fair Isaac Corp.
  • 78 percent  struggle to keep track of all their passwords.

  • 22 percent would either give up on opening a bank account completely, or give up and try at a different bank if they were forced to jump through too many hoops, such as having to post documents or travel to a branch in person.

  • 47 percent are tired of having to answer endless security questions when they call customer service departments.

  • 64 percent don't see the need for elaborate passwords featuring a mix of numbers, symbols and capital letters.

  • 48 percent are frustrated with the two-step verification and 71 percent are annoyed by captcha codes, which they say feature illegible words.

  • 65 percent find it annoying when email systems log them out as a security measure.

  • 71 percent think there are simply too many security measures nowadays.

"There's a real discrepancy here," said T.J. Horan, who oversees fraud solutions at FICO. "Consumers are glad their bank is protecting them, but they're frustrated that the protection is making it harder for them to open accounts and make purchases.

"When it comes to digital transformation, a smooth customer experience is going to be vital. The winners will be the firms that can balance this against the need to stop fraud."


Topics: Security, Trends / Statistics


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