In Europe and the U.S., financial services organizations and their customers are enjoying the benefits of a digital revolution. Digital channels have transformed the way consumers interact with their financial service providers. Digital channels have bolstered the ability of banks and insurers not only to attract new customers but also to engage with existing customers at a lower cost and with a broader range of relationship-enhancing capabilities. At the same time, the introduction of new digital capabilities has drawn the attention of criminals. Their efforts are undermining the trust at the center of the relationship between financial service organizations and their customers. Maintaining this trust while maximizing the potential of digital channel investments requires a comprehensive approach to identifying and authenticating customers from day one.

This original report, sponsored by IBM Security examines the role of identity verification and authentication in building trust in financial services, both in helping accountholders trust their financial institutions and in enabling financial institutions to expand their digital features and functionality.

This research report was independently produced by Javelin Strategy & Research. Javelin Strategy & Research maintains complete independence in its data collection, findings, and analysis.


Enterprise data in this report is taken from a May 2018 survey of 300 financial institutions and insurers in the US (N = 150) and selected European Union countries (France: N = 50, Germany: N
= 50, UK, N = 50).

Consumer data in this report is taken from a November 2017 survey of 5000 US adults. For questions answered by all 5,000 respondents, the maximum margin of sampling error is +/- 1.39 percentage points at the 95% confidence level.