F5’s latest report, the Curve of Convenience 2023 Report: The Pursuit of APIs, has uncovered some alarming statistics regarding the security of sensitive data in the Asia Pacific region. The report found that a staggering 79% of consumers in APAC are willing to grant companies access to their data in exchange for a better customer experience. Furthermore, 96% of consumers are willing to save sensitive data onto websites and applications for a more streamlined process.

While these trends reflect a desire for convenience and personalization in the digital space, they also put consumers’ sensitive data at risk. APIs, which enable these features, can be exploited and abused unless properly protected, resulting in security breaches and fraud. In fact, over 75% of APAC consumers are ready to withdraw support from a company in the event of a data breach, according to the report.

Despite this concern, the report found that many businesses in the region are not prioritizing data security, putting themselves at risk of losing their competitive edge. The report suggests that organizations must strike a balance between usability and security, with the help of a suitable checklist and security solutions that enable continual discovery and protection of APIs.

The report also highlights the importance of brand image and trust in gaining consumer loyalty, with 61% of APAC consumers trusting companies with strong brand images. Furthermore, the report found that digital payments are the way forward, with 55% of consumers preferring this payment method.