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Digital Identity, Security & Online Fraud

UK adults seek better fraud protection from their banks, YouGov poll reveals

Monday 16 July 2018 | 09:45 AM CET

A new YouGov survey has revealed that UK adults are interested in having better protection against fraud and would like to play a more active role in controlling their payment cards.

The survey, conducted on behalf of Ondot, showed that online security and fraud prevention comes top in what British think banks should guarantee, with 60% wanting “peace of mind” when using cards online. The survey also discovered that consumers are keen to play a much more proactive role in managing their personal finances.

When it comes to today’s card usage, respondents pointed out to aspects such as: new ways of managing their card services before, during and after a payment; how, when and where cards are used and the ability switch your card ‘on’ and ‘off’ to create extra vigilance against fraud.

The study also found that 3 in 10 people (30%) reported being frustrated about having card transactions being declined without notification. The same number of people (30%) also said they were frustrated by transactions being declined without any prior notification. Furthermore, almost a fifth (18%) resent having to wait for blocked cards to be replaced.

Cardholders indicated that they simply want their cards to work when they most need them to. Just under half (49%) of all the respondents are looking for their banks to alert them before a card is declined and more than a quarter (27%) want transaction alerts to be displayed in real time. In addition to this, 22% want the ability to set their own transaction limits from their mobile phone app - a level of card control that is now commonplace in many countries, but presently almost unknown in the UK.

When travelling abroad, there was also a widespread desire for automating travel notifications with 30% of those surveyed preferring a mobile app to set controls for when and where they want their cards to work.

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