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New Research Finds that APAC Consumers Expect both Security and Ease-of-Use when Interacting with Brands Online

An Okta survey of nearly 5,000 consumers in Asia Pacific discovers that many are frustrated with traditional password logins, and would prefer passwordless, social login or biometric options

SINGAPORE – Media OutReach – 26 May 2023 – Launched today, new research from Okta, the leading independent identity provider, reveals that when interacting and transacting with brands online, Asia Pacific consumers want both assurance that their private data are protected, as well as an easy, seamless experience.

Conducted in partnership with global research firm Statista, Okta’s Customer Identity Trends Survey 2023 polled more than 20,000 consumers across 14 countries in Asia Pacific, North America and Europe. Japan, South Korea and Australia were covered in APAC. Nearly one-quarter of the survey participants (23%) came from this region. The survey examined attitudes towards convenience, security and privacy, and considered the implications for brands.

Consumers are spending more time and money in the digital space. The e-Conomy Southeast Asia 2022 report put together by Google, Temasek and Bain & Company showed that the size of SEA’s digital economy hit a staggering Gross Merchandise Value (GMV) of USD200 billion in 2022, and will continue to grow to USD300 billion by 2025, before tripling to USD600 billion by 2030.

Enterprises’ ability to provide their customers with top-notch yet secure online experiences has thus become critical to business success.

Privacy is Top of Mind for APAC Consumers

The research found that consumers in APAC are becoming more concerned about privacy, and more protective of their personal data.

For instance, according to the survey, most participants (55%) in APAC understand that their online activities leave a digital footprint. Among the consumers in this group, 40% are taking steps to reduce that footprint’s size.

As much as 77% of survey participants in the region said that it was important to them to have control over their data (such as being able to change privacy settings or limit information-sharing).

The good thing for APAC consumers is that most of them (60%) are aware of their own security practices, and about a third of those consumers are actively taking steps to protect their own data. Their strategies include:

  • Using strong passwords (cited by 45% of the respondents who are taking steps to protect their own data)
  • Restricting the amount of data they share (cited by 40%)
  • Using different passwords for all of their accounts (cited by 38%)
  • Deleting cookies regularly (cited by 35%)
  • Regularly reviewing/changing privacy settings (cited by 28%)

Such awareness and personal security steps taken to preserve digital privacy are important, as the number of different accounts that people need to manage for various applications, services and websites has surged.

Maintaining access to large numbers of digital accounts, particularly when many of these accounts are inactive or abandoned, increases cybersecurity risk. If a threat actor is able to compromise one of these accounts, they may gain access to user credentials or personal data, and the breach could go undetected for long periods of time.

In the APAC region, the median number of active digital accounts held by each consumer is between 10 and 20. About 73% of consumers have 10 or more active online accounts.

Ease of Use is Top Priority, too

Despite APAC consumers’ awareness of privacy and security, however, they don’t want these concerns to get in the way of a personalised, user-friendly and frictionless experience when interacting with brands.

For example, most APAC survey respondents (54%) said that they are more likely to spend money when offered a simple, secure, and frictionless login experience. This is regardless of whether they are accessing apps and services, or making purchases.

On the flip side, a poor online experience can have lasting repercussions on consumers’ perception of brands. Use of passwords is still widespread among APAC organisations, yet the survey found significant levels of frustration associated with this authentication mechanism.

For instance,

  • More than one-third (35%) of respondents in the APJ region report feeling frustrated when they have to create a password that meets certain requirements.
  • About 27% reported frustration with needing to create a new password for every online service they use. One quarter (25%) encounter this problem at least once a week.
  • When asked which login security measures offered the most security and convenience, APAC respondents ranked social login (with a Facebook, Instagram, Google, etc. account) last, with only 23% of them saying they believed it was an appropriate means of safeguarding their online interactions with brands.

In contrast,

  • Biometric authentication (Face ID, Touch ID) was favoured by the largest group (42%) of APAC respondents for its convenience and security. Younger consumers, in particular, are more enthusiastic about biometrics, which suggests that their popularity will climb in the years ahead.
  • Multi-factor authentication (such as getting a code by text) is favoured by 35% of respondents in this region.
  • Passwordless login is favoured by 24% of the respondents in APAC.

Ben Goodman, Senior Vice President and General Manager, Okta Asia Pacific and Japan, advised organisations to replace their traditional username-and-password login systems with these newer authentication mechanisms.

“The new world of business is online, and enterprises will do well to become more attuned to their customers’ expectations in this arena,” he said. “Moving to passwordless not only reduces friction, it can also boost security, since biometric-based authentication is generally not vulnerable to phishing-style attacks.”

“Importantly, these login experiences are accessible for everyone, including consumers with visual or cognitive impairments, or limited motor function. That means in addition to improving the customer journey, going passwordless expands the size of the market your business can reach.”

The full Okta Customer Identity Trends Survey 2023 global report can be found here.

Hashtag: #Okta #CustomerIdentity #Security #Privacy #UserExperience

The issuer is solely responsible for the content of this announcement.

About Okta

Okta is the World’s Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation, thanks to customizable solutions and more than 7,000 pre-built integrations. We’re building a world where Identity belongs to you. Learn more at okta.com.

National Planning and Financing for Inclusive Development Project Launched in Vientiane

Launching of the Project - National Planning and Financing for Inclusive Development (NPFID)
Officials at the event pose for a group photo

The Ministry of Planning and Investment and the United Nations Development Program (UNDP), with financial support from the United States Agency for International Development (USAID), launched the National Planning and Financing for Inclusive Development (NPFID) Project on Friday, 19 May 2023, in Vientiane Capital, Laos.

Air Asia to Restart Flights From Vientiane to Kuala Lumpur in August

Air Asia to Reopen Weekly Flights From Vientiane to Kuala Lumpur in August
This image is used only for representational purpose (photo: Air Asia Newsroom)

Air Asia will resume three weekly flights from Vientiane Capital to Kuala Lumpur in August to boost more tourism between the two countries.

Lao Government Issues Warning Regarding Unauthorized Scholarships

Lao Government Warns of Unauthorized Scholarships
Students reading books on a staircase (Photo: Freepik )

The Ministry of Education and Sports issued a notice last week warning the public of unauthorized scholarships to China and Vietnam for students from Laos.

Fusion of Metaverse and Online Shopping to Recreate the Ecology of Shopping – Liza applies AI technology to build the traceability system of products

HONG KONG SAR – Media OutReach – 26 May 2023 – Recently, Liza, a well-known community e-commerce company in Vietnam, announced that it has combined AI technology to create a brand-new commodity traceability system. Through this system, the circulation path of commodities can be queried with one click, which ensures the standardization and legality of commodity sources and can also protect consumers’ rights and interests to a greater extent. Different from the previous online shopping mall of Web2 in Vietnam, Liza also used AI to optimize the shopping process of users’ whole scene, and deeply explored the potential interests and needs of Vietnamese young people, creating an intensive multi-dimensional shopping ecosystem for users and creating a brand-new immersive online shopping experience.

Liza aims to provide global authentic and high-quality products to meet the needs of consumer groups. To enable more consumers to purchase high-quality global goods, collecting first-hand product consultation information and purchasing channels for users. It also conducts multiple verifications of product sources, authenticity, safety, and other aspects through AI technology to ensure the authenticity of the products. Meanwhile, in response to the current online shopping consumer group composed of young people in Vietnam, the Liza platform supports users in using global online payments or even digital currency payment methods.

Liza also focuses on enriching the content ecosystem and creating a diverse social space. It provides users with a window for creation and communication by building a content platform that includes various forms of presentation such as images, text, and videos. In the Liza community, creators, operators, and interested users in related fields such as metaverse, technology, and trends can create personal pages to freely create, discover, disseminate, and share high-quality content. Thus, users can enhance their emotional interactions from a single emotional connection to UGC’s content sharing and communication, promoting multi-party win-win situations and achieving “Social to Earn”.

As a rising star in the Vietnamese e-commerce market, Liza has demonstrated multi-dimensional strengths by providing high-quality global goods, creating a digital full scene shopping experience, and offering a diversified social platform. Hopefully, as Liza continues to expand the breadth and depth of AI technology applications on its platform, it will create more diverse, personalized, safe, efficient, and trendy online shopping experiences for more people.

Hashtag: #Liza

The issuer is solely responsible for the content of this announcement.

Vietnam to Import More Electricity from Laos, China

Vietnam to Import More Electricity from Laos, China
This image is use only for representational purpose (photo: Hanoi Times)

According to EVN General Director Tran Dinh Nhan, talks are underway for the Vietnam Electricity Group (EVN) to increase its electricity purchase from Laos and China.

Canopy Sands Development Presents Bay of Lights at Annual Investment Meeting 2023: A Step Towards Becoming Cambodia’s Next Financial Hub

ABU DHABI, UAE – Media OutReach – 26 May 2023 – Canopy Sands Development, the master developer of the largest coastal city in Cambodia, recently showcased its 934-hectare development, the Bay of Lights, at the Annual Investment Meeting (AIM) 2023 Congress in Abu Dhabi.

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The AIM Congress is a global platform that attracts over 10,000 participants, including prominent investors, business professionals from 175 countries, and more than 500 pre-screened exhibitors. Canopy Sands Development’s invitation to the congress underscores the company’s strong position in the real estate development sector.

Delegates from around the world were presented with an overview of the unique investment opportunities in Cambodia, focusing on Bay of Lights. The project and the country were highlighted as prime considerations for international investors looking to participate in Asian and global financial reform.

Cambodia, at the heart of Southeast Asia and the center point of a golden triangle between China, India, and Indonesia, offers a rapidly growing economy for investors to tap into. The Bay of Lights, set to be gazetted as a special zone, is poised to become the next destination in Indochina for the coming decade.

During the event, The Canopy Sands Development team had the opportunity to engage with Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and signatory of the comprehensive economic partnership agreement (CEPA) between Cambodia and the UAE.

Dr. Thani was among the many dignitaries from Europe, the Middle East, and Africa (EMEA) who visited the Cambodia and Bay of Lights promotion booth to learn more about the showcased opportunity.

The AIM Congress showcase preceded the team’s further engagement with the Abu Dhabi Investment Authority (ADIA) and Abu Dhabi Global Markets (ADGM) – institutions at the global forefront of Sovereign fund management and International Finance Centre management.

“Bay of Lights offers a unique opportunity for international investors to tap into Asia’s rapidly growing economy, aiming to bring together the economies around the world within a safe and efficient financial corridor,” said Edward Lee, Bay of Lights’ senior representative.

Bay of Lights project is a significant step towards Canopy Sands Development’s mission of attracting global capital flows and global financial institutions to Cambodia, envisaged to thrive as the next financial hub for Southeast Asia.

Hashtag: #CanopySandsDevelopment

The issuer is solely responsible for the content of this announcement.

BingX Sponsors Bitcoin 2023 and Celebrates 5th Anniversary in Miami

SINGAPORE – Media OutReach – 25 May 2023 – BingX, one of the leading crypto exchanges, is proud to recap their presence at The Bitcoin 2023 conference that was held this past week in Miami. The conference itself featured unique activations, attendee experiences and an agenda of builders, politicians, business leaders and more of the most influential people in the world sharing their insight into this technological, cultural revolution. BingX sponsored the conference, had a booth activation and held a private party during their “User Appreciation Month” to commemorate their 5th anniversary with a focus on giving back to the community for their continued support over the years.

The Bitcoin 2023 conference is instrumental in fostering growth, not only among the most prominent cryptocurrency, but the greater digital-asset industry as well. Roughly 15,000 people gathered this year to discuss themes such as monetary policy, disrupting traditional banking, greater global policies, Bitcoin ecosystem growth, among many other ideas. The conference hall featured four stages, a news desk, networking lounges, “bull” riding, a mining village and many other hands-on activations. Some highlighted influential guests include Michael Saylor, Michael Lewis, Jack Mallers, Elizabeth Stark and Adam Back.

BingX also kicked off celebrating their 5th anniversary and User Appreciation Month on May 18th with one of many regional events focused on offering a unique opportunity for BingX to connect with its users on a more personal level, gather feedback and strengthen the bond between the platform and its community. The private event in Miami hosted 100 people from across the world to refect on five years of BingX and network with other attendees. Guests were from companies such as Mastercard, The Block, Cointelegraph, Amazon Web Services, Ava Labs, Sui, Filecoin Foundation and many others. Those who attended also received a special edition BingX co-branded CoolWallet Pro hardware wallet to thank them for their attendance. Other global offline events are scheduled to be held in countries such as Spain, Russia, Turkey, Vietnam, Mexico, and Argentina.

Megan Nyvold, Head of North American Media stated, “It has been amazing to speak with the BingX community from around the globe, as well as give back to them. Five years is truly commendable and we look forward to continuing our journey to onboard the next billion crypto users. It will take the support and hardwork of the whole industry to accomplish this goal. It was incredible to see attendants still focused and working hard growing the greater cryptocurrency ecosystems, even during a market downturn.”

“The most exciting exchange to witness was the presence of both Web2 and Web3 companies. It was easy to spot that both emerging and existing technologies are focused on addressing the important role that cryptocurrency will play in the future of finance and working together to accelerate adoption,” Megan added.

User Appreciation Month is a testament to BingX’s commitment to putting users at the forefront and creating a rewarding and enjoyable trading experience. BingX invites all users to join in and make the most of this carnival around the globe.

Hashtag: #BingX

The issuer is solely responsible for the content of this announcement.

About BingX

BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way.