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APAC consumers have little trust in digital services

Just 31 percent of consumers in Asia-Pacific believe their personal information will be managed in a trustworthy way by businesses offering digital services, with only 5 percent willing to transact with companies that offer cheaper but less trusted digital platforms. The apparent lack of trust in digital companies is understandable, considering almost 40 percent have had their trust compromised whilst using such services. 

In addition, 53 percent of respondents in the region would move to another organisation if their trust in the company was negatively impacted, revealed a study commissioned by Microsoft. Conducted by IDC Asia-Pacific, the survey polled 6,372 consumers–aged between 15 and 75–across 14 regional markets including Singapore, India, Indonesia, China, Japan, and Australia. These respondents were digitally active in their daily lives, turning to online platforms to carry out various activities in the last three months, including banking, shopping, and social media.

The study also found that 36 percent would reduce their use of digital services if their trust was negatively impacted, while 34 percent would stop using such services completely. 

Asked to assess the importance of five trust elements, 88 percent of respondents pointed to security and 87 percent cited privacy. Another 84 percent looked for reliability, according to the survey, which found consumers to have the highest expectations of trust from financial services institutions, healthcare providers, and education institutions.  

And while only 5 percent would transact with organisations that offered cheaper but less trusted digital platforms, 61 percent would recommend a more costly digital service option if they found it trustworthy. 

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