Three Out of Four Consumers Plagued with Password Fatigue
February 3, 2015 | www.InletDigital.com | Inlet LLC
New Survey Finds that Multiple Online Logins Befuddle Consumers Who Digitally Manage their Accounts
NEW YORK – February 3, 2015 -- A survey conducted by Inlet, a new technology platform that enables companies to securely deliver important digital documents across multiple online consumer destinations, found that many consumers struggle with maintaining their various accounts due to password fatigue. Three out of four of American internet users (76 percent) polled admitted they repeatedly have to reset their passwords because they forget them.
Many consumers have separate log-in details for each vendor, understandably, given the spate of recent hacking attacks. However, this plethora of passwords turns online account management into a stressful experience, instead of a stress-relieving one. The Inlet survey of 1,000 U.S. online consumers asked how many passwords they have for their various online accounts. Half of respondents said they have four or more passwords, and more than a quarter of all consumers said they have seven or more.
“Consumers want the ability to engage with brands on their own terms,” said Chuck Cordray, CEO of Inlet. “While digital document delivery gives consumers more convenient options, it also presents a challenge as most consumers have trouble remembering multiple passwords and managing separate accounts for each of their providers. Companies need to help consumers by enabling one single access point to their most important bills, statements and documents.”
There is a critical need for companies to make online account logins as user friendly and accessible as possible. In fact, 45 percent of consumers no longer open all of their paper mail, indicating that the appetite to go paperless is certainly there. However, consumers also referenced that confidence in going paperless depends most upon assurances about security of their information.
Bank Safe – Consumers Trust Banks and Credit Unions the Most
The survey also found that consumers trust banks and credit unions with their information more than they trust other companies they deal with on a regular basis. 79 percent of consumers selected banks and credit unions as the most trustworthy custodians of their data, far above the eight percent that selected telecom providers and the seven percent that selected retailers.
About the Survey The findings are based on a Google Consumer Survey of more than 1,000 consumers. Google Consumer Surveys automatically field a validated, representative sample of respondents and allocate users according to the demographic spread of U.S. Census data of Internet users.
The Inlet technology platform is designed to enable rich company and consumer relationships. Developed by Pitney Bowes and Broadridge Financial Solutions, Inlet allows consumers to access important documents through the online channels they already use, and offers companies a secure, customizable space to provide these documents and build relationships with customers on a daily basis. Inlet reaches millions of consumers through partnerships with cloud storage providers, banks and credit unions, digital mailboxes and payment app solutions.
For more information, visit www.InletDigital.com.