In just the past two years, nearly one fourth of consumers reported that their financial data has been hacked online during the past two years, according to a new report from a survey within the banking industry by Accenture. The report is based on an online survey of 4,013 bank customers in North America, and was conducted by Accenture, a worldwide professional services company that provides solutions in strategy, consulting, digital, technology and operations. About 70% of respondents were based in the U.S. The remainder 30% were based in Canada.
25% of American citizens report falling victim to financial data breaches
Despite 23% of respondents reporting financial data hacks, consumers are still ready to share their data in an effort to receive better service from their bank. About 63% of respondents are likely to give their bank direct access to private information.
Respondents give access to information such as mortgage, credit card and student loan data in order to let their bank use it to present them with suitable services and products. Respondents want banks to use the information to offer them with lower prices, faster service, such as rapid loan approval, more relevant advice and personalized offers based on location.
In fact, recently, the National Association of Federal Credit Unions urged congress to pass through legislation that could require stricter standards for retailers in the fight against hacking.
Experts on a panel at the Mortgage Bankers Association Mortgage Servicing conference in February outlined the threat trends facing the mortgage industry as well as what companies could do to make their companies safer from a cyber-attack.
