, Singapore
Photo by Swapnil Bapat via Unsplash

8 in 10 Singapore consumers willing to invest time in ID verification

Preferred methods for identity verification include submitting a picture of their ID and a live selfie when creating new online accounts.

More than 80% of consumers in Singapore are willing to allocate additional time for identity verification in exchange for improved security measures, according to Jumio 2024 Online Identity Study.

The survey, encompassing 8,077 consumers evenly distributed across the United Kingdom, United States, Singapore, and Mexico, said this spans various sectors, including financial services (85%), the sharing economy (85%), healthcare (85%), government (84%), travel and hospitality (84%), retail and e-commerce (83%), social media (82%), and telecoms (82%).

The preferred methods for identity verification when creating new online accounts involve taking a picture of their ID and a live selfie, with 21% of respondents selecting this option as the most accurate, closely followed by creating a secure password at 19%.

Despite concerns about deepfake technology, 60% of consumers globally believe they could detect a deepfake, with the number rising to 77% in Singapore. Only 7% of Singaporean respondents claimed they have never encountered a deepfake video, audio, or image before.

Moreover, 60% of consumers advocate for stricter regulations on AI. Singaporeans exhibit greater trust in their government's capacity to regulate AI compared to respondents from the UK, the US, and Mexico.

ALSO READ: Around 7 in 10 Gen Zs in Southeast Asia prefer e-commerce 

Additionally, Singapore is the top country to report knowing a victim of fraud (51%).

“As we navigate the complexities introduced by generative AI, the role of sophisticated security systems becomes crucial,” said Philipp Pointner, Jumio’s chief of digital identity. 

He said incorporating multimodal, biometric-based verification systems is crucial amidst the increasing threat of deepfakes and cyber deception.

“These technologies are key to ensuring that businesses can protect their platforms and their customers from emerging online threats, and are significantly stronger than passwords and other traditional, outdated methods of identification and authentication,” said Pointner.

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