With the rapid increase in online scams using SMS and other messaging apps, consumers now demand a more effective approach to combating fraud. The latest survey from Appdome, a mobile app security solutions provider, revealed that 82.4% of consumers want enhanced protection against fraud.
Appdome views this as an indicator that existing anti-fraud solutions are no longer effective, especially with scammers leveraging emerging technologies.
In the survey, 48.4% of global consumers stated that they require “the best protection” when using mobile apps, meaning they want to safeguard login credentials, and data, and prevent malware and mobile fraud. This figure is 554% higher than the number of global consumers who believe that protecting the login alone is sufficient, according to Appdome.
Related Stories:
Appdome: Hacking of mobile apps is top security concern of Filipinos
Consumers in PH want strong mobile security — Appdome
“Given these findings, the mobile brands and businesses looking to drive adoption, lower the cost of customer acquisition, and achieve higher transaction volumes should take note,” said Richard Stiennon, founder and chief research analyst at IT-Harvest, author of the introduction to this year’s survey. “Mobile app security is critical to any mobile app strategy.”
Security over features
An overwhelming number of respondents, 85.6%, indicated that protecting against security threats, fraud, and malware is equally or more important than introducing new features. More than half of consumers surveyed, 56.2%, believe that mobile brands and app developers should be responsible for ensuring a safe consumer experience, far exceeding all other choices.
The report includes detailed data and responses from 25,000 consumers who provided insights about their mobile app usage, as well as their expectations and desires regarding mobile app security and protection against fraud, malware, and other mobile threats.
The survey also found that 41.8% of respondents stated that they or a close friend/relative have been the victim of a cyber-attack, mobile fraud, or malware.
Despite the government’s requirement for smartphone owners to register their SIMs, scam texts in the Philippines are still ongoing.
Consumer loyalty
“Mobile apps remain a dominant force in the consumer landscape, shaping a narrative where the very foundation of brand loyalty could be anchored in security,” said Tom Tovar, CEO and co-creator of Appdome.
A significant majority of respondents, 73.7%, identified a security breach as a dealbreaker for them, which is concerning news for app-based businesses. Also, 67.5% of consumers stated that they would stop using a mobile app based merely on the perception that the app lacked sufficient protection.
Consumers (93.6%) expressed confidence in brands that can assure them of data security.