Forgotten passwords mean lost online customers, says latest TNS research

15th May 2007 – Almost one in three people have forgotten their password after signing up for an online service and as a result have decided not to use the service again, according to TNS research commissioned by OneVu, the UK’s first consolidated electronic bill management service that lets people see, track and pay all their bills from the familiar, secure environment of their online bank.

Miles Quitmann, Commercial Director at OneVu, comments: “What this research shows is that many companies are at risk of losing and even alienating customers who wish to interact with them online, unless they adopt a multi-channel approach to electronic bill delivery. Consumers do not have the time to log on to multiple websites to manage their bills or access online self-service functions. They are quick to reject a service if it is not convenient. The OneVu service enables consumers to manage all their bills and statements through the one, secure log in of their online bank. In fact 71% of respondents cited convenience as the main driver for using the OneVu service.”

In addition the research, undertaken by TNS, found that 47% of respondents use between four and ten different passwords with the most popular being: mother’s maiden name (20%), a pet’s name (15%) and a child’s name (10%). More than one in ten of us still regularly use the word ‘password’ as the password and only 3% use a random password.

The OneVu service launched at the end of last year with Lloyds TSB. Other major banks will be joining in phases throughout 2007 and 2008.

Editor’s note:

OneVu is the UK’s first consolidated electronic bill management service which lets people see, track and pay all their bills from the familiar, secure environment of their online bank.

OneVu is a joint venture between Voca (formerly BACS Ltd), which processes over 4 billion financial transactions each year, and CheckFree Corporation (Nasdaq: CKFR), a provider of financial electronic commerce services and products to organisations around the world.

For further information please contact:
Judith Thompson, The Weston Partnership,
Tel: 01403 891 514
07771 591 501
judith@westonpartnership.co.uk