It’s no secret that the past year has fundamentally changed how businesses operate. Facing a global health crisis, companies and consumers alike had to adjust and adapt to the accelerated shift to digital and the identity and fraud risk it brought.
We saw that shift to digital reflected in recent findings from Experian’s Global ID & Fraud Report, which found that the percentage of consumers over age 40 who reported using online banking increased from 33% pre-Covid to 38% in January 2021. Additionally, at the height of the COVID-19 pandemic, 64% of global consumers said they used mobile wallets, an over 10% increase from before the pandemic.