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Fighting fraud, or better customer experience - why would you share your private data?

Some of the younger ones among us aren’t really hyped with the idea of giving the Government our private data to help fight crime and terrorism, but we’d gladly do it for a better customer experience. This is according to a new report by identity data intelligence specialists GBG, who’s surveyed 2,000 UK consumers. 

More than half (51 per cent) said they’d gladly share their personal data to help prevent fraud, and a third (36 per cent) would do the same to fight terrorism.  

Nick Brown, group managing director at GBG said: “It’s encouraging to see many people are willing to share their data when the benefits are clear, including to help keep them safe. Yet it is understandable why many are still reluctant. In fact, we previously found that 86 per cent of consumers are worried about identity theft, whilst 57 per cent don’t provide personal details as they don’t know how they will be used. To build trust, organisations must grasp the opportunity to explain how data is used for our benefit.” 

There’s also a big difference between the generations. While the older people were easier on data sharing (69 per cent) to prevent fraud, the number drops to 43 per cent among those aged between 18 and 24.  

Youngsters wouldn’t mind sharing their data with organisations to get a better customer experience, though. A quarter (24 per cent) said they’d do it, compared to 12 per cent those aged 65 and more.      

Image Credit: Gustavo Frazao / Shutterstock