ING Survey: Consumers Have High Expectations For How Companies Protect Personal And Financial Information Online
93% of Adults Fully Aware of the Risks Involved With Managing Finances Online
According to a recent survey1 conducted by ING, nine in 10 adults agree that financial services companies should be doing more to protect their customers’ personal and financial information.
Further survey findings indicated that 75% of survey respondents access financial accounts online, such as checking, savings, 401(k) or investment accounts. However, when it comes to their level of experience with protecting their personal and financial information online, just 5% of adults surveyed characterize themselves as being an expert. While few consider themselves experts when it comes to protecting their personal and financial information online, 93% agree that they are aware of the risks involved with managing financial accounts online.
Due to the high levels of awareness regarding online security threats, 93% of survey respondents report that they take online privacy and security very seriously and do everything they can to protect their own information. As such, they take a variety of steps to help protect their personal financial information online, most commonly keeping their anti-virus software updated (72%), only accessing their accounts from secure computers (60%), and only working with companies or financial institutions that they trust (56%). However, 84% expect companies to notify them of any suspicious activity and to utilize the most up-to-date security protocols and software (76%).
“Protecting customers’ personal information is one of ING’s highest priorities,” said Rob Leary, chief executive officer, ING Insurance U.S. “Our customers put a great deal of trust in us to manage their financial futures, and with that trust is great responsibility — a responsibility to secure their personal and financial information. As Americans become more and more comfortable with managing their finances online, it’s important that financial services companies continuously upgrade and evolve their technology capabilities around protecting customer data.”
ING Launches Global Security Operations Center
ING is putting customers’ minds at ease and living up to the expectation that companies should do more to protect personal and financial information with the opening of its new global security operations center in Minneapolis. The culmination of five years of investment, the center is staffed with employees 24 hours a day, seven days a week, 365 days a year. It relies on a robust set of tools to detect and prevent inappropriate activity and provide an integrated view of that activity across the environment. As more sophisticated threats evolve, the center can expand its capabilities by integrating new tools into the environment or enhancing the ways in which existing tools are used. The expert team is also experienced in recognizing signs of potentially abnormal behavior. The combination of skilled resources and quality tools allows for the high-performance response the company’s customers expect, ensuring threats do not even make it through the “front door.”
“Our research validates why we are enhancing our security operations,” said Gary Baxter, chief information officer, ING Insurance U.S. “At ING, we are committed to continually investing, growing and staying ahead of the curve in keeping our customers’ data safe. It’s not only tangible, but it’s also symbolic of the investment and actions that we will take to protect our customers’ personally identifiable information.”
Despite measures both individuals and companies take to secure information, two-thirds of survey respondents (67%) worry about the online security of their savings and investments. Additionally, over a quarter (26%) feels that their financial information is not secure online.
“ING understands that despite the extensive precautions people may take, they still worry about online security,” adds Baxter. “Our global security operations center is equipped with the latest technology and expert staff who are monitoring and reacting to abnormalities detected and performing analysis of suspicious activity — all preventative measures to protect and secure data from potential breaches.”
With more and more people accessing their financial information online, ING is committed to gaining a deeper perspective about the sentiments people have regarding how their personal identifiable information is protected and educating them about what the company is doing to provide them with a greater level of comfort that their financial futures are secure.
1 The ING web-based survey was conducted by Ipsos Public Affairs from July 23-28, 2010, and polled a national sample of 1,005 adults aged 18 and older. The margin of error for a sample this size is +/- 3.1 percentage points, 19 times out of 20 of what the results would have been had the entire adult population of adults aged 18 and older in the United States had been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
Audria Belton Benn
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million residential, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 105,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
In the U.S., the ING (NYSE: ING) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, and financial planning. ING holds top-tier rankings in key U.S. markets and serves nearly 30 million customers across the nation.
ING’s diversity management philosophy and commitment to workforce diversity, diversity marketing, corporate citizenship and supplier diversity fosters an inclusive environment for employees that supports a distinctive product and service experience for the financial services consumer.
For more information, visit www.ing.us.