Pohjola Pankki Oyj : OP-Pohjola: Some customers are too careless about their
use of electronic banking services
Finns are sharply divided in their attitude towards the use of electronic
services and related security. The increased reportage of data security
threats might have scared some senior citizens in such a way that they are
already avoiding the use of services even if they are secure. But then again,
some young people seem to have an exaggerated perception of the extent of a
bank's liability for damages and insufficient knowledge of their own
responsibilities and liabilities, which may make them careless about security
OP-Pohjola conducted an interview-based survey to find out about the Finns'
attitudes towards and experiences of the use of electronic services, with a
view to listening to banking customers for developing services further and
analysing communication needs.
The survey results revealed that the last view years have seen a change in
people's attitudes towards data security. Today more and more people have
friends and family members who have become victims of fraud and there is more
public debate about data security issues. The use of electronic services has
also increased for entertainment purposes, such as in social networks.
Therefore, many users consider it only natural to pay attention to security,
also in the use of financial services.
Many people think that security threats are already being overstated and the
related news has more like an alarmist tone. This involves a risk that
inexperienced users of electronic channels, especially elderly people, do no
longer dare to use electronic services even if they are secure.
But then again, the survey results revealed a risk group of all too careless
users who are not so worried about identity thefts or card fraud. These kinds
of respondents were found among young people in particular. A misconception of
a bank's or credit card company's unlimited liability in the case of fraud
lies behind this result. However, such a person may be faced with an unwanted
surprise in case the fraud has been caused by his own negligence, such as
disclosing his authentication credentials to an unauthorised party or failing
to ensure anti-virus protection on his personal computer.
On the whole, the respondents regard banks as reliable companies and believe
that they have state-of-the-art information systems and data security because
of the nature of their business. For this reason, banks are also considered
appropriate intermediaries in user authentication other than that related to
Being a well-known service provider and the opportunity for personal contacts
are important in security experiences among users
Users wish for simple and user-friendly web banks without any set of
instructions. They also set great store by service performance reliability and
security. Opinions were divided on further confirmation of payments and on
contactless payment features included in bank cards. - When it comes to
electronic services, striking a balance between security and user convenience
is important. Customers want to use electronic banking services as
conveniently as possible but, on the other hand, jeopardising data security by
enhancing user convenience is out of the question, explains Mika Käyhkö,
Development Manager, OP-Pohjola.
According to the respondents, reliable electronic services require a known
service provider which they can contact personally. For problem situations,
the respondents want contact details to be clear and to be served in their
mother tongue. By and large, Finnish banks are considered exemplary service
providers in this respect.
Know your responsibilities
A bank or a credit card company is liable for unauthorised purchases made
using a customer's card data or online, provided that the customer has
exercised due care. However, banks and credit card companies have to assess on
a case-by-case basis whether the customer has exercised due care because of
the variety of cases. Customers currently use banking services with their own
computers and smartphones, which is why they also assume responsibility for
data security. Customers are obliged to ensure, for example, that they do not
give their authentication credentials to any party and that their computer is
free from viruses used for phishing. If the customer accidentally gives his
credentials to an outsider or discovers something unusual during his online
session, he must immediately contact his bank. It is also possible to
deactivate credentials over the phone on a 24/7 basis.
For more information, please contact:
Mika Käyhkö, Development Manager, tel. 010 252 8372
Kai Koskela, Senior Vice President, t. 010252 3490
OP-Pohjola Group is Finland's leading financial services group providing a
unique range of banking, investment and insurance services.The Group's mission
is to promote the sustainable prosperity, well-being and security of its
owner-members, customers and operating regions through its local presence.Its
objective is to offer the best and most versatile package of loyal customer
benefits on the market.OP-Pohjola Group consists of some 200 member
cooperative banks and the Group's central institution, OP-Pohjola Group
Central Cooperative, with its subsidiaries and closely-related companies, the
largest of which is the listed company Pohjola Bank plc.The Group has a staff
of over 13,000.OP-Pohjola Group posted earnings before tax of EUR 601 million
in 2012 and had total assets of EUR 99.8 billion on 31 December 2012. The
Group has over four million customers.
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
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