LAST UPDATED April 20, 2023
This morning, ThreatX announced new research focused on the impact companies’ security has on consumer confidence. We believe it’s important to understand this, particularly as you consider the degree to which applications have permeated nearly every aspect of our lives.
Thinking about a typical “day in the life” – there is a seemingly endless list of applications I rely on to make it through the day. For example, just today I:
- Checked ThreatX email and Slack via my mobile phone.
- Got a preview of my gym’s workout through my SugarWOD app.
- Used PickUpPatrol to change school dismissal plans for my 1st grader.
- Spot-checked my older kids’ grades using the PowerSchool app.
- Logged in to my healthcare provider’s portal to check upcoming appointments and outstanding bills.
- Used my mobile Nest app to change the temperature in my home.
- Updated my son’s “RSVP” status for lacrosse practice using the GameChanger app.
- Submitted travel expenses using Expensify
- Approved vendors’ invoices using Bill.com.
Then there’s everything else: personal banking, video conferencing, on-demand TV, business and personal social media, marketing automation, CRM systems. The list goes on, and on, and on.
Most, if not all, of these applications are integrated with other systems, using APIs. While I may choose to share data directly with one of the providers above, I understand full well that interconnectedness of systems means the reach of my own data is much greater than may be readily apparent.
If, like me, you rely on applications to manage your work and personal life, what threshold for risk will you tolerate? Would a security breach at one of the brands you rely on change your habits? Would you pay more for a service that was marketed as having a more robust security program?
In our survey, we polled over 1,000 adults in the U.S. While our press release has a lot more detail, some of the insights we took away included:
- Most adults were unlikely to continue using the services of a company that suffered a data breach.
- Consumers in the U.S. are increasingly security aware; more than half said they’d pay a premium for a vendor that is investing in security.
- Consumers expect brands to be transparent with respect to security practices.
The last point certainly hits home. While I have no illusion that any vendors I use are 100% secure, I do expect the brands to share openly – where they are successful, where things may fall short, and where they are prioritizing security moving forward.
If you have a minute, check out the survey results – and we’d love to hear any thoughts you have on the subject.
