A report published by EyeVerify has revealed that US consumers want more biometrics options for mobile banking and view biometrics as more secure than passwords.
The Retail Banking Biometrics Confidence Report is a result of 1,002 adults survey. A significant part (79%) of the respondents said the opportunity to use more biometric authentication methods beyond the fingerprint (eye, face, fingerprint, and voice) to access mobile banking or payment apps should be largely explored. Additionally, 42 % said they would not use a banking or payment app that does not offer biometric authentication.
Meanwhile, 86% of respondents agree that biometrics makes logging into apps easier than entering a password. In addition,21% of respondents check their mobile banking and payment apps more than once a day when biometrics are enabled, 23% log in once a day, and 30% log in a few times a week with biometrics.
In terms of security, results show that:
• 82% said biometrics are more secure than passwords
• 78% agreed that mobile apps with biometrics are more secure
• 82 % of said they perceive banks that offer biometric authentication to be proactively addressing mobile security.
Another key takeaway of the study is that as fingerprint recognition becomes more widely used, consumer interest in other biometric forms, such as eye, face, and voice, is increasing.