8 in 10 consumers do not trust organisations to manage their data

95% said multi-factor authentication would make them feel more secure.

86% of consumers do not trust organisations that manage their identity data, a survey by Ping Identity reveals.

The top concerns are identity theft followed by financial loss and data breaches. Doing online shopping (72%) made consumers feel most vulnerable to identity theft, followed by accessing or using online banking (69%) and using social media (68%).

Meanwhile, 95% indicated that verification methods including multi-factor authentication (MFA) and biometrics by organisations would make them feel more secure or protected against fraud. The data shows the desire for seamless digital experiences is widespread, with 87% wanting changes to how they log in to apps and websites.

Singapore consumers are likely to opt-in to MFA, followed by biometrics and text/email prompts with a one-time login password to the following methods to use the following authentication methods in exchange for a more convenient and secure experience.

The survey found that in Singapore, there is a stronger emphasis on multi-factor authentication (MFA), and biometrics possibly due to a higher level of sophistication with online applications or a greater preference for seamless login experiences that biometrics can provide.

The findings detailed in the report are based on responses collected from 1,000 consumers in Singapore in Summer 2024 about their personal experiences and beliefs surrounding identity security.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia