, 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and their customers from emerging online threats, and are significantly stronger than passwords and other traditional, outdated methods of identification and authentication,” said Pointner.

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Meta is investing big in business messaging
Companies can boost sales by reaching more customers on Messenger, Instagram and WhatsApp.
MINISO opens biggest global store in Jakarta
The Chinese retailer aims to hit 1,000 stores in the next five years from about 300 now.
PUMA targets tech-savvy youngsters on TikTok
The world’s third-biggest activewear maker uses local influencers to connect with its market.