customer

CustomerZone360 NEWS

Free eNews Subscription

90% of Consumers Concerned About Poor Vendor Security in 2023

By Stefania Viscusi March 24, 2023

According to new data released by web application and API protection solutions provider ThreatX, 90 percent of consumers are worried about the potential negative impact that poor vendor security could have on their lives in 2023. The survey also found that consumers are demanding greater transparency into vendor cybersecurity strategies and are increasingly hesitant to work with vendors that have a history of data breaches.

The latest findings highlight the growing importance of robust cybersecurity measures for businesses. No one wants to be a victim of identity theft and protecting data at all levels is the recommendation.

In today's tech-driven world, with more and more applications relying on APIs, the need to have real-time scanning of all inbound traffic to prevent cyberattacks is critical. Especially as the scale and sophistication of these attacks grows. According to the report, 48 percent of consumers said their data was exposed due to an organization's lack of protection and nine out of 10 said they are really concerned about the negative impact it will have on their lives.

But are organizations doing a good enough job to help consumers feel safe about working with them? According to the survey, 10 percent of consumers said they actually feel protected by vendors and another 21 percent said if a breach was to happen they would switch to a competitor. Most respondents also agreed they would pay a premium if it meant their personal information was adequately protected.

Many of the recent breaches at big name companies like Venmo and TMobile have occurred due to unprotected APIs and applications. These types of data breaches can have a severe impact on consumers and brand reputations. The need to implement strong security measures is greater than ever.

 “Consumers are more vigilant than ever about protecting their data and they’re now demanding more from the vendors they work with. For businesses, the ability to uncover and track suspicious API and application behavior in real- time is the key to a good cyber defense, strong consumer loyalty, and an overall competitive differentiator,” said Gene Fay, CEO of ThreatX.




Edited by Greg Tavarez
Get stories like this delivered straight to your inbox. [Free eNews Subscription]
SHARE THIS ARTICLE
Related Articles

Companies Must Consolidate Information for Effective Customer Interactions

By: Greg Tavarez    2/20/2024

Beth Schultz, vice president of research and principal analyst, Metrigy, led a panel discussion at Future of CX Expo, featuring Whitney Meer, applied …

Read More

Tracking the ROI of AI: A Broad Future of CX Expo Conversation, part of the #TECHSUPERSHOW Experience

By: Alex Passett    2/15/2024

At this year's Future of CX Expo (taking place at the beautiful Broward County Convention Center in Fort Lauderdale, Florida), our team attended a sta…

Read More

Invest in Agents to Improve Customer Experience

By: Greg Tavarez    2/14/2024

A panel discussion at Future of CX Expo 2024 looked at how successful companies are using the latest technologies, including AI and next-generation wo…

Read More

Image-to-Text Conversion: A New Way to Access Information

By: Contributing Writer    2/14/2024

Easy access to information is more important in this digital world. Information is all around us in a variety of formats, from handwritten notes and p…

Read More

Exploring How AI Strategies Fit Into Marketing and Sales at Generative AI Expo 2024

By: Alex Passett    2/13/2024

This year's Generative AI Expo at the Broward County Convention Center in Fort Lauderdale, Florida is abuzz with all the latest talk regarding artific…

Read More