Axway, a global API management and integration software leader, this week released the results of a consumer survey showing how they expect their personal data to be shared and secured. The 2023 survey polled 1,000 American adults about their expectations and top concerns about how companies use, handle and track their data; signaling a need for more trustworthy digital experiences.
The survey found that while more than 60% of Americans feel open banking is positive and 62% want healthcare providers to share their health records with other providers, nearly 56% don’t know where their data is stored, and 87% wish they knew what data companies collected about them.
The survey data reflects responses from everyday consumers throughout the United States. Banking and financial services rank first when it comes to Americans’ trust in the protection of private information (57%). Healthcare and life sciences (42%) are second, followed by insurance (33%). Americans trust transportation and logistics (16%) least when protecting their private information; 57% said they would stop doing with companies that had a cyberattack or a data breach until the issued had been resolved.
“No matter the industry – energy, finance, healthcare, retail, or so on – companies are trying to provide a digital experience that is both easy and connected with vendors or partners, as well as secure and private in their data management,” said Brian Otten, VP, digital transformation catalysts. “Companies need to bridge the gap between efficient API consumption and opening data in such a way that users are pleased with the digital experience and also trust that their data is being used with discretion and with their consent.”
The survey results indicate how consumers perceive their data being used by companies. There is increasing trust in companies being transparent about using online data (53%), and app tracking transparency has empowered Americans with more control over how their data is being shared. However, almost 84% of respondents said they would trust mobile apps and websites if they could block access to their personal data at any moment.