New Data: 42% of US Consumers Worry About Security of Bank Account Credentials Shared with Third Parties
Convenience+Security: Key Consumer Finding On Third-Party Financial Data Aggregation
It is easier than ever for consumers to connect their bank accounts to third-party apps, but 42% worry that it could open them up to fraud. PYMNTS’ “Convenience+Security: Key Consumer Finding On Third-Party Financial Data Aggregation” report, an MX collaboration, surveyed more than 2,300 consumers to learn how third-party financial service providers can build that trust.
Inside the November Report
- 80%: Portion of third-party financial app users who link their bank accounts to those apps
- 59%: Share of consumers who say trust in an FIs ability to protect their assets is essential when sharing bank account credentials with third parties
- 67%: Share of consumers who link their bank accounts to third-party apps and expect their credentials to be secured against unauthorized access