Press release

Report: 1 in 5 U.S. Adults Feel Unsafe Using Online Sharing Services

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Sponsored by Businesswire

Only two-thirds of U.S. adults feel “very safe” or “somewhat safe” using
online sharing services like Uber or Lyft, and one in five U.S. adults
feel “somewhat unsafe” or “not safe at all,” according to data today
released from the Global Trust and Safety Survey by Jumio, the leading AI-powered
trusted identity as a service provider
.

The sharing economy — often defined as a peer-to-peer exchange of goods
and services that is facilitated by an online platform — is forecasted
to have 86.5 million users by 2021 and is expected to skyrocket
to $335 billion by 2020, an increase of 2,293 percent since it first
emerged in 2014 as a $14 billion industry. This growth is fueled by
convenience, cost and the principles of trust and safety.

However, the promise of the sharing economy is being challenged if
one-fifth of U.S. consumers (18.1 percent) report feeling unsafe
participating in online sharing services, and it’s important for
businesses to take the necessary steps to regain consumer trust.

The Role of Trust in the Sharing Economy

Trust — the expectation that all parties are who they say they are and
are operating in good faith — is a prerequisite for the sharing economy
to thrive. Eighty-nine percent of consumers recently surveyed
by PwC agreed that the sharing economy marketplace is based on trust
between providers and users.

“Online sharing services are facilitating an in-person meeting between
two strangers, so it is imperative that businesses foster a relationship
of trust and an environment of safety to protect all parties involved,”
said Robert Prigge, Jumio president. “These businesses are tasked with
the difficult challenge of establishing digital trust between both the
provider and user. The first step in establishing a digital chain of
trust is ensuring, beyond any doubt, that a person’s digital identity
matches their physical identity and they are who they claim to be.”

Verifying Digital Identity is Important to Consumers

Verifying digital identity is important to building trust and operating
safely in the sharing economy. According to the Jumio Global Trust and
Safety Survey, nearly three-fourths of U.S. consumers (71.2 percent)
believe it’s either “somewhat important” or “very important” that online
sharing services incorporate an identity verification process with new
users and service providers. Furthermore, half of U.S. consumers (50
percent) would be willing to undergo an online identity check for an
online sharing service.

Online Identity Verification is Evolving

Online identity verification — an industry that is expected to grow to $20
billion
 by 2022 — is evolving as traditional methods of identity
verification, such as knowledge-based authentication and SMS-based
two-factor authentication, are no longer secure ways to verify user
identity. The online economy is continuing its transition from
traditional verification to digital verification, and many companies in
the sharing space are struggling to catch up.

“Imagine a scenario where a user has legitimately applied to and been
approved for a new sharing service. A few months later, the user’s phone
is lost or stolen. In this scenario, the sharing service provider would
need to re-authenticate the user to prove that the person logging in and
using their service is actually the account owner,” said Prigge. “In
sharing economy services, it’s crucial to implement a secure, and
reliable, biometrics-based authentication method which can be done in
seconds to establish definitive trust between both parties in the
transaction.”

By leveraging advanced technology — including 3D
liveness detection
, biometric facial recognition, machine learning,
artificial intelligence and human review — digital identity verification
services verify an individual’s identity against a government-issued ID
to accurately confirm they are who they say they are. Advancements in
ongoing user authentication can provide ongoing user authentication in
seconds with a video-selfie
to re-verify the identity of sharing economy service providers, like
ride-sharing drivers, on a frequent basis, providing continuous security.

To view complete results of the Jumio Global Trust and Safety Survey and
to learn more about the state of trust and safety in the sharing
economy, download a copy of Jumio’s
Ultimate Guide to Trust & Safety in the Sharing Economy
. For
more information on Jumio, digital identity verification and ongoing
user authentication, please visit www.jumio.com.

About the Jumio Global Trust and Safety Survey

The Jumio Global Trust and Safety Survey was conducted online by Google
Surveys and commissioned by Jumio. The study was conducted in December
2018 and polled 1,000 U.S. adults and 1,000 U.K. adults to gauge usage
and perception of safety related to online sharing services. All
respondents were 18 years or older. For complete survey results,
download Jumio’s
Ultimate Guide to Trust & Safety in the Sharing Economy
.

About Jumio

When identity matters, trust Jumio. Jumio’s mission is to make the
internet a safer place by protecting the ecosystems of businesses
through cutting-edge online identity verification and authentication
services that quickly and accurately connect a person’s online and
real-world identities. Jumio’s end-to-end identity verification
solutions fight fraud, maintain compliance and onboard good customers
faster.

Leveraging advanced technology including augmented intelligence, AI,
biometrics, machine learning, certified 3D liveness detection and human
review, Jumio helps organizations meet regulatory compliance including
KYC, AML and GDPR and definitively establish the digital identity of
their customers. Jumio has verified more than 170 million identities
issued by over 200 countries and territories from real-time web and
mobile transactions. Jumio’s solutions are used by leading companies in
the financial services, sharing economy, digital currency, retail,
travel and online gaming sectors. Based in Palo Alto, Jumio operates
globally with offices in North America, Latin America, Europe and Asia
Pacific and has been the recipient of numerous awards for innovation.
For more information, please visit www.jumio.com.