63% of consumers worried about how companies use their data

News
8 Jan, 2016

Only 43 per cent trust their banks to keep their data safe and confidential

Research by Verint has revealed that more than half of UK consumers are suspicious about how companies are using their personal data.

The report questioned 18,000 consumers around the world about their attitudes towards how companies use their information. Those based in the UK appeared to be most sceptical, with 63 per cent saying they do not trust how organisations are distributing and analysing details.

“Recent high-profile, data-related business cases have shed new light on the importance consumers attach to data protection," Nick Nonini, managing director for EMEA at Verint Enterprise Intelligence Solutions said.

"With this latest research, Verint has created a view into the ‘New Rules of Customer Engagement.’ Adopting such an approach can help ensure greater transparency over the use of customer data and help organisations build trust and confidence in this increasingly challenging environment.”

The research also revealed that less than half of respondents trusted their bank to keep their confidential information safe, showing there is certainly some room for improvement when it comes to communicating the use of such information.

However, online and offline retailers and utility companies were the least trusted companies, with just three per cent of those asked saying they trust how their details are used by those particular sectors.

“In today’s environments, organisations need to focus on laying foundations for customer relationships that are based on trust,” Nonini advised.

“This comes down to getting the basics right, leveraging technology and analytics to better understand what is really on the minds of customers, and then working to help ensure the right resources are in place to address evolving needs, issues and requirements.” 

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