RSA survey: Consumers care about authentication

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Aug 18, 20052 mins

Vendor surveys are always a bit funky because more often than not there is a poorly hidden agenda within. So take this one under that phrase of caution.

RSA security this morning released the results of a study it conducted about consumer confidence in online transactions. The survey showed that despite widespread fears of ID theft and fraud, consumers are open to increasing the amount of business they conduct online, so long as the banks and other services give them strong authentication.

Further, half of the respondents indicated that they would switch to a bank or business that offered better authentication than the one they currently use.

The study released today marks a change from one RSA conducted earlier this year.

In RSA’s words: The findings provide a telling counterpoint to a February 2005 RSA Security study that showed security concerns were perpetuating consumer reluctance to conduct personal business online; in that survey, nearly one-fourth of respondents were reducing their online shopping and one-fifth refused to work with their financial institutions over the Internet.

Based on a previous conversation I had with Art Coviello, RSA’s CEO, I’d say that results from a survey like this one could swing right back toward RSA’s February study results with one or two serious spyware attacks.