Study: 93% of financial services users prefer biometric authentication, through fingerprint and iris scan, instead of passwords
Most consumers prefer biometric authentication, through fingerprint and iris scan, when using financial services, instead of passwords, with the percentage reaching 93%, according to a study conducted by MasterCard.
This comes as no surprise, since using biometric security is a much safer method, that eliminates the disadvantage of memorising a password.
Nevertheless, while 92% of professionals from the banking world want to adopt the biometric technology, putting it into practice is being delayed and only 36% of the executive directors in the domain consider they have the necessary experience in delivering such technologies.
MasterCard and the University of Oxford joined forces in conducting a study, with the results being presented in the document ”Biometric technology in the financial services: a guide in five steps”.
As a reminder, most high-end smartphones come equipped with fingerprint sensors, while some also use iris scan.
This state of the art technology is used in Samsung Galaxy S8 smartphones, as well as in the Note 7 ones, a model that will soon re-enter the market.
A series of laptops also come equipped with such advanced technologies: some high-end laptops have the Windows Hello facility, which scans the iris, while the MacBook Pro has a fingerprint sensor.
You blink and you pay
The MasterCard Identity Check Mobile service, now available throughout the world, substantially accelerates the payment experiences, while increasing their security at the same time.
Card owners verify their identity by scanning their digital print on mobile phones or through the facial recognition technology by self-photography or ”selfie”.
Global smartphone sales are expected to reach $400 bln next year, according to the company.