Biometric Security: Consumer Demand
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A significant 56% of online consumers prefer biometric security for accessing financial accounts over traditional methods. The document highlights that identity fraud poses a major threat, accounting for 53% of all fraud cases in the UK, and suggests banks stand to benefit as 29% of consumers are more likely to choose banks offering biometric security. Various biometric technologies are in demand, including fingerprint scanners, facial recognition, and voice verification, with a majority of consumers showing interest in these innovations.
Biometric Security: Consumer Demand
- 1. THE THREAT WWW.INTERQUESTGROUP.COM/INFOSECMAY 2017 BIOMETRIC SECURITY: CONSUMER DEMAND “56% OF PEOPLE ONLINE WOULD PREFER TO USE BIOMETRIC SECURITY MEASURES TO ACCESS THEIR FINANCIAL ACCOUNTS, FAR OUTPACING TRADITIONAL IDENTITY VERIFICATION METHODS.” JOHN MARSDEN, HEAD OF ID AND FRAUD AT EQUIFAX Identity is the no.1 fraud threat to UK businesses and consumers accounting for 53% of all fraud cases. 53% 60% of consumers would consider using iris scanning technology. WHY SHOULD BANKS START USING BIOMETRIC SECURITY? 29% of consumers say they would be more likely to use a bank that offers biometric security. SOURCES: EQUIFAX.CO.UK, INTELLIGENTENVIRONMENTS.COM WHAT BIOMETRIC TECHNOLOGIES ARE CONSUMERS DEMANDING? 57% of consumers would consider using fingerprint scanners. 55% of consumers would consider using facial recognition. 45% of consumers would consider using voice verification. 37% of consumers would consider using Electrocardiogram (ECG) heartbeat monitors. 37% of consumer would consider using vein verification. of British consumers are likely to be swayed by quality of security measures when choosing who to bank with. 37%