New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Democratisation of data: unlocking insights for every user

Democratisation of data: unlocking insights for every user

We know how valuable data can be for carving out a competitive advantage in increasingly dynamic marketplaces. But collecting and storing data is only one part of the equation, because its real value can’t be harnessed until everyone in your organisation is able to use it.

 

In fact, “95% of C-level executives believe that data is an integral part of forming their business strategy” according to our 2018 Global Data Management Benchmark Report. In that same study, it reported that more than half (52%) stated that data and analytics will be the key source of identifying business opportunities.  

 

How can we make decisions and create strategies for driving our organisation forward if only a privileged few employees have the access and capabilities required to derive analysis and insights?

 

The ideal data solutions will always be those that are designed around people. However, organisations frequently implement systems that are too technical for the people who need to use them for decision making.

 

There is a shift in attitudes that suggests organisations are beginning to understand the need for democratisation of their data. While the responsibility for data quality has long been with the IT department, the report indicates that 91% of C-level executives surveyed said they now believe the responsibility for data management should ultimately lie with business facing teams.

 

User experience is the key to democratising data

Like all of the most successful technologies we see today, when a system is easy to adopt and intuitive to use, employees begin to see data as an enabling force for their role. It’s unlikely that the majority of your employees are comfortable going through complex spreadsheets to access the insights they need. But if you provide them with easily accessible insights at key decision points, they’ll see the potential for making better decisions.

 

To get broad adoption of data management systems across your organisation, you need to consider solutions that provide greater agility, while being easy to use and quick to implement. A self-service model should also provide business users with the ability to visually identify a problem in the data, explore the detail, and make an informed judgement on the root cause in a seamless manner - all within the organisation, without the need for centralised resources or outsourced consultants.

 

By democratising data, you can create a culture in which people proactively leverage data to create new opportunities. To put the right technology in your people’s hands, you need to spread data ownership across your business, and align your data management systems with the people who use them every day. This all starts by finding the right technology with the capabilities to help you realise your future business goals.

 

Experian Data Management allows organisations to carry out enterprise wide Data Quality Management and Data Governance and brings a step-change in Data Management productivity thanks to its easy, interactive functionality. Experian Data Quality Management is quick, collaborative and transparent. It can be installed and providing valuable data insight within minutes, and is used by technical and non-technical staff, facilitating adoption across the organisation.

 

Alan Thornton
General Manager, Data Quality Southeast Asia

 

Read full article

Alan Thornton

By Alan Thornton 07/24/2018

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