That customers want everything faster is a fact of life in the digital economy. From the amount of time it takes to complete a purchase online, to how fast goods get to the customer’s door, to how quickly they can access and interact with their bank accounts, the modern customer has one preferred speed setting: faster. But faster everything means that fraud goes faster, too – and customers are feeling the sting. The challenge is balancing the need for speed with the certainty of security in every transaction.
Data:
74.2 percent: Share of online merchants that offer free shipping.
47 percent: Share of consumers who consider themselves digital-centric when it comes to banking.
13 percent: Share of credit union members who have been victimized by fraud.
4 percent: Share of credit union members who have been victimized by identity theft.
2 min, 29 sec: Average checkout time on an eCommerce site.
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