Consumers are quite confident banks and insurers can keep their data safe, but these organizations aren’t that sure. A new report by Capgemini has shown that financial institutions lack a significant amount of confidence when it comes to data protection.
Just one in five (21 percent) of financial service organizations admitted they’re „highly confident“ they could detect a data breach. On the other hand, 83 percent of consumers trust banks and insurers with their data.
Looking at the UK specifically, the figures didn’t change much. More than four-fifths (82 percent) of consumers trust financial institutions. The institutions, however, severely lack confidence. Just 19 percent are confident they could spot a data breach.
Capgemini say the level of consumer trust may be down to organizations not reporting on incidents.
