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Are consumers downplaying privacy risk and displaying complacency, or are they making active choices and trade-offs in specific contexts about risk versus their perceived level of trust in the organisation?

 

Our COVID Crime Index found that 84 per cent of consumers expressed concerns about their digital identity and personal information online. The majority of us talk a good game about online privacy; however, in reality, we tend to overshare, reveal and give away that bit more personal information than perhaps we realise. But what does this mean for banks and other financial institutions? 

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Complimentary report:
Tackling the data ‘privacy paradox’

In this complimentary report, we discuss the influence of consumer data privacy concerns, differing actions impact the financial services sector, and how such institutions can navigate this often conflicting paradox to inform data ethics strategies.
 
 

 
A glimpse inside...

Are consumers downplaying privacy risk and displaying complacency, or are they making active choices and trade-offs in specific contexts about risk versus opportunity and their perceived level of trust in the organisation?

 

The optimistic data strategist in me thinks the latter: data and its opportunities and challenges have been mainstream news stories for the last few years. The pandemic has shone a bright light on the use and sharing of data, and one where now the ethics of our data forms part of our own personal ethics arsenal. But what does this mean for banks and other financial institutions?

 

To help you and your organisation explore the privacy paradox as part of your data ethics discussion, this piece explores:

- Why consumer data actions don’t align with privacy preferences

- The privacy model: fundamentalists, unconcerned and pragmatists

- Influence of context on data decisions

- Navigating the privacy paradox through trust and context

- Five workshop questions for discussion your teams

 

Banking Insights: Tackling the data ‘privacy paradox’

Download the report   An introduction to data ethics

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