Proof Point
More than half of consumers willing to use personal data as currency to get additional benefits from selected financial institutions
Consumer Willingness to Share Personal Data as Currency to Selected Financial Institutions
2016 (percentage)
| Note: | Data from Accenture’s consumer study of 32,715 adult consumers of banking, insurance and investment advice services across 18 markets |
Proof Point Findings
- Data Currency – Monetary value assigned to data used as unit of exchange in transaction
- Global Willingness – Majority of consumers willing to share personal data to banks (67%), investment advisory firms (67%) and insurance companies (57%) in 2016 in exchange for value-add benefits (e.g. priority service, pricing benefits, product and service personalization)
- U.S. Above Average – U.S. consumers reported to be more willing to use personal data as currency compared to global average, especially with investment advisors
- Key Growth Drivers – Include increasing digitization of financial transactions, growing demand and value of consumer data, and heightening consumer need for personalized services
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Accelerator |
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
August 23, 2017
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