We live in a transactional data landscape. Every minute of every day, simply by going about our normal day-to-day activities, we generate information through the payments that we make. In the UK, the amount of data created amounts to 11 billion yearly transactions and a total annual payments value of £6 trillion. This data could be used to develop solutions that solve everyday problems which affect us all – for example, to aid the fight against fraud.
Ipsos MORI was commissioned by Accura to undertake a mix of both qualitative and quantitative research. This explored in detail people’s attitudes, concerns and expectations regarding the usage and sharing of personal financial data to combat fraud.
Following initial exploratory research (seven focus groups), a total of 1,664 GB adults aged 16+ were interviewed between 22 April and 9 May 2016. A total of 558 people were interviewed face-to-face and 1,106 people were interviewed online with the resulting data weighted to be representative of the known population by gender, age, region, social grade and access to the internet.
This paper was also contributed to by Elaine Kempson, Director of the Personal Finance Research Centre (PFRC) and Professor of Personal Finance and Social Policy Research at the University of Bristol.