Consumer Acceptance of Biometrics Opens Path to Confront Threat of AI Digital Fraud
People who use biometrics to access online accounts more satisfied than those who don’t, new research says
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231212863240/en/
Digital payment fraud losses are projected to surpass
These more secure systems use multiple layers of biometrics, such as facial recognition combined with voice and fingerprint or other biometric, to authenticate a person’s identity. In addition to offering greater security, they have little to no maintenance overhead and eliminate today’s unpopular password-based authentication systems.
Key findings from IDC’s research into the consumer perspective:
- 77 percent of consumer respondents who use biometrics on their smartphone or tablet said they are satisfied with the use of biometric identity authentication.
- 25 percent of consumers surveyed said they have had one of their online accounts hacked or taken over by online criminals.
- More than a third said they had switched to another company because of an unsatisfactory resolution to an online account hacking incident.
- Consumers in general are unsatisfied with current username/password processes: one in three said that having to remember multiple usernames and passwords is their biggest authentication headache.
“Companies have dual responsibilities in the face of mounting online threats: reduce corporate risk and keep their customers safe and secure,” said
“Today’s commonly used authentication methods have become easier to circumvent and no longer provide adequate security for users,” said
*Source: doc #EUR251382023,
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies new levels of control, deployment ease and operation, while protecting the entire customer journey. Trusted by 99% of