Answering consumer fears, Clayton Locke looks at the potential of biometric security.
As banking and payments become increasingly advanced, the security protecting them needs to be more advanced as well. An often-touted solution is biometric security, but can this ever truly replace the tried-and-tested password?
Biometric technology within financial services institutions is increasingly in demand and consumers are starting to expect banks to provide these measures.
Demand for different types of biometric authentication has risen significantly since 2014, with iris scanning moving ahead of fingerprint technology to the top of Intelligent Environments’ 2016 Future Password Index (FPI).
Iris scanning technology has overtaken fingerprinting as the biometric security measure most UK consumers would consider using.
Iris scanning technology has overtaken fingerprinting as the most popular biometric measure, with 60 per cent saying they’d consider using it.
New research has revealed that the demand for banks to use biometric measures to bolster security has risen massively in the last two years.
Demand for different types of biometric authentication has risen significantly since 2014.
Information security has become a deciding factor for more than a third (37%) of UK consumers when choosing a bank.
Intelligent Environments finds technologies such as facial recognition, heartbeat monitors and voice verification gaining popularity in the UK.