Eight in ten Canadians (83%) believe their identity is one of their most valuable assets, with 52% believing its is more important to protect online identity than their money.
The claim comes from a new research study from Interac Corp – Trust and Identity in a Digital World.
While the world is moving more and more to the online world, identity documents are still physical, such as passports and driver’s licenses. As a result, 45% of respondents stated they take photos of their IDs so they can access them more conveniently. That said, 59% acknowledge sharing such documents is risky.
Although convenience is a priority for Canadians, so is security. Of those questioned, 65% stated a digital ID would be at higher risk than a physical one. However, this fear could be linked to a lack of knowledge on the online world, with 77% stating they do not know enough about protecting online identities.
Consumers feel digital ID protections should be similar to those in the payments space, with 62% stating they would feel secure if their digital ID was protected by the same software used by banks and financial institutions.
Finally, 58% of respondents felt they could trust digital ID more if there were more regulations in place to protect their interests.
Interac Corp chief innovation labs and new ventures officer Debbie Gamble said, “Canadians told us they are ready for more convenient, digital options to manage their identity documents online and on their mobile devices.
“They also indicated how important safeguarding their identity is, and that digital IDs must be secure and backed by trusted technology.”
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