Building Consumer Trust

February is Building Consumer Trust Month, sponsored by Ekata.

 

Ekata_Ebook

Building and maintaining consumer trust is crucial to ecommerce and marketplace business’ success. However, these platforms are prone to many types of fraud and abuse. It is important to develop effective strategies when it comes to reputation, onboarding, customer support, and communication. Download the ebook to learn more.

Learn Your Biggest Opportunities for Growth in E-Commerce

Consumer trust is essential to the modern digital experience. Assess your company’s strengths and weaknesses in the areas of security, customer experience, account opening and fraud management with this 12-question quiz. Upon completion, you will receive a custom profile with a downloadable PDF identifying your biggest opportunity for growth. 

Report_ Infinite Want Consumers Demand Speed and Security in the Digital Experience_ekata

In this report, more than 7,000 consumers across North America and Europe were asked what they want in their digital experiences. A majority of consumers demand trust, security, and data privacy, while also expecting digital transactions to be fast and frictionless. That means the pressure is on for businesses to build customer trust from the very first interaction. Download the report to learn more.

What Does Mitigating Fraud Look Like? - Part 1

What Does Mitigating Fraud Look Like? - Part 1

There is no “one-size-fits-all” fraud prevention strategy, and consumers often see some of the same security measures on the sites and apps they use. However, 61 percent of consumers believe that companies with access to their personal data are responsible for avoiding fraud, and 90 percent are concerned they will be a victim of fraud in the future.

Consumers often see fraud prevention in the form of:

  • CAPTCHAs
  • Two-Factor Authentication (2FA)
  • Know Your Customer (KYC)

CAPTCHAs

A lot of websites use CAPTCHAs, like the “I’m not a robot” prompt when we’re creating an account or filling out a form. CAPTCHAs block bots from filling out sign-up and contact forms during checkout. However, CAPTCHAs that require...

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Fraud is Changing User Experience Expectations

By Janet Wagner

The number of consumers who are aware of large-scale fraud attacks and massive data breaches is growing. Thirty-seven percent of consumers surveyed said they have had their identity stolen or had been a victim of fraud, and 90 percent worry that they will be a victim of fraud in the future.

When it comes to user experience (UX), fraud is changing consumer expectations worldwide. Consumers in every country want fast, frictionless, and secure digital experiences. But the level of security and overall experience users expect from digital platforms differ from country to country.

UX Expectations Depend on...

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ekata building consumer trust article 1

Balancing Fraud Prevention with Welcoming New Customers

By Janet Wagner

Every platform with users has an onboarding process. What that process looks like depends on many factors, including the company industry, company location, and fraud prevention tools used throughout sign-up. Consumers don’t want to go through a lot of hoops or have to wait long to use a digital platform. In fact, 73% of digital platform users think that when registering for an account, the process should happen instantaneously. And when consumers have experienced frustration using a digital platform, 66% did not go through with opening an account on at least one occasion.
Account sign-up is often the first stop for fraudsters, so companies with digital platforms must implement security measures for new users. But digital platforms need to strike a healthy balance between fraud prevention and user experience (UX), especially at sign-up.

Balance fraud prevention and UX at sign-up with these tools...   

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