Nine out of 10 consumers are prepared to sacrifice convenience in favor of stronger security to protect online bank accounts, research has found.

A survey of more than 2,750 consumers found that loss of personal data and the possibility of future financial fraud in their name were the two most frequently cited worries about online banking.

Asked about their preference for convenience versus stronger security, just 10 percent of respondents said they would sacrifice security for greater convenience.

The bank customers were more concerned about identity safeguards than whether they would be reimbursed for financial losses, the survey carried out by Javelin Strategy and Research for authentication service provider Authentify found.

Stephen Knighten, a statistical analyst at Javelin, said: "We identified an important shift in what concerns consumers most about banking online. These findings demonstrate that the financial services industry must go beyond zero liability protection and offer more comprehensive identity safeguards to gain the trust of consumers, especially those who have so far been reluctant to conduct financial transactions online."

The survey found that 78 percent of respondents would like their identity to be verified using real-time authentication mechanisms in the event of questionable account activity.