Despite concerns around the privacy of their data, 60% of consumers would be willing to share personal data, such as location data and lifestyle information, with financial service providers if it results in lower pricing on products or benefits like gym membership discount, per an Accenture report based on a survey of 47,000 banking and insurance customers across 28 markets.
Here are some of the key takeaways from the report:
- Consumers are willing to share their data with financial institutions (FIs) in exchange for improved services. Among the surveyed consumers, 81% said they would be open to sharing more information with banks for faster and easier loan approvals. And when it comes to insurance, 79% of consumers would be willing to give more data access if it would reduce the chances of injury or loss.
Read More.. Source Business Insider