Business

99% of Businesses in India Implement Digital Online Strategy to Recognise their Customers; Highest in APAC: Experian Report

Editor Desk
By Editor Desk

The second wave of Experian’s Global Insights Report highlights 99% of Indian businesses have implemented strategies related to recognising their customers across various platforms. According to the report, 31% businesses in India are focused on implementing new analytics methods and building new AI models to improve customer decisions. While the shift in online transactions is evident, 65% of Indian consumers have revealed concerns regarding online security, according to the report.

Experian – a leading global information services company

Experian – a leading global information services company – surveyed 3,000 consumers and 900 executives working in consumer technology, retail banks, E-commerce, and telecommunications. Respondents spanned India, Japan, Singapore, Australia, Brazil, France, Germany, Spain, the United Kingdom and the United States. The survey was conducted in September and covered consumer and business economic outlooks, financial well-being, online behaviour and more.

Since the beginning of the pandemic, governments across the region have instituted loan moratoriums for businesses and consumers, observed in several markets including India, Singapore, Malaysia, Australia, Japan and China.

Key highlights for India from the second wave of Experian’s Global Insights Report – Business Survey:

  • 42% of Indian businesses think that their economy has completely recovered.

  • 44% of Indian businesses indicate health & safety of employees as their top challenge followed by the health & safety of their customers.

  • 99% businesses in India report to have implemented strategies related to recognising their customers across their various platforms – the highest among all regions.

  • Know Your Customer (KYC) as a form of customer authentication solutions receives more emphasis among businesses in India (39%) as compared to other APAC countries surveyed

  • Security measures in customers’ devices (39%) and Customer Identification Programmes (CIP) (39%) are the most common fraud detection and protection solutions being used in India.

  • 97% of busi