Study finds consumers willing to share personal data for benefits

According to an Accenture Plc study, most consumers around the world would be willing to share more personal data with financial institutions if it meant that they received better services. Specifically, the study, which surveyed 47,000 consumers across 28 countries found that 60% of consumers are willing to share lifestyle data for local benefits, 79% are willing to share personal data to reduce injury or loss odds and 81% are willing to share more data for faster loan approval. These numbers are somewhat surprising given that 75% also reported being very cautious about privacy, especially in light of recent data breaches. Perhaps this is a good sign that consumers are starting to trust financial institutions more. In fact, 30% of those surveyed indicated that they trust their financial institutions more than they did just one year ago.

Source: www.reuters.com