Nearly all organizations hit with a incident report a long-term negative impact on both revenue and consumer trust.

Today’s customers have higher standards for where they store their – and their trust in businesses is falling, as evidenced by a new report investigating online trust in the digital age.

Nearly 80% of consumers report it’s “very important” or “crucial” their personally identifiable (PII) is protected online, and 86% say a high level of data protection is a priority in choosing online services, according to “The Global State of Online Digital Trust,” from CA Technologies and Frost & Sullivan.

About half (48%) of organizations report involvement in a publicly disclosed data breach. Of those, nearly all say they have experienced a long-term negative impact related to client trust and/or revenue. Half of the respondents whose businesses had been breached report strong long-term negative effects on both consumer trust (50%) and business results (47%).

Consumer trust in businesses is in a precarious state following breaches at major organizations, including Equifax, Deloitte, Uber, CEX, and Ticketmaster. Most business leaders (84%) think trust is growing, but consumer responses indicate the opposite. Only 38% of users say their trust has increased – a sign that organizations aren’t in touch with client needs and perceptions. Only half of consumers polled say they are willing to exchange personal data for online services.

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- Horizontal 334031 BH US18 banners 468x60 non 1 - 48% of Customers Avoid Services Post-Data Breach

 

 

 

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