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Compass Plus – Privacy vs Perks: how much are consumers willing to share?

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A recent study by Accenture shows that 6 in 10 consumers are willing to share more of their personal data with financial institutions in exchange for improved services and better deals.

Accenture’s global Financial Services Consumer Study surveyed 47,000 banking and insurance customers from across the globe. Despite the growing concerns about data privacy and breaches, a staggering 81% of banking customers are happy to disclose more of their spending habits, location and lifestyle data, and income for a faster loan approval. 76% are willing to do so to receive personalised offers from retailers and discounts.

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