Logging on With a Stare: Biometrics Report Reveals Lingering Concerns
More than half of consumers (54%) see biometrics and other digital identification technology revolutionizing transactions and payments, according to a new report from Incode Technologies, a provider of digital identification technology.
But consumers have security and privacy concerns that have not been fully addressed, with 48% saying they do not see digital authentication as contributing to trust in the online world because of concerns about fraud protection, privacy and security.
Incode defines digital identification technology to include all digital means of identifying a person or verifying identity such as password or PIN verification, security questions, and two-factor authentication. Biometrics, which includes unique physical characteristics such as fingerprints, facial patterns and voice, is a subset of digital identification technology, according to Incode.
The Incode digital identification technology and biometrics report found that 57% of respondents agree that digital authentication methods improve the customer experience by simplifying the log-in and onboarding process and 57% would be more likely to re-engage with brands that use these tools on their websites.
Forty-seven percent of respondents said that the top benefit of digital authentication/biometrics was eliminating the need to remember a password. Thirty-eight of these respondents do not trust passwords to protect their online payment processes.
The survey asked which sectors in which respondents would like to see more digital authentication methods. They were finance (35%), retail and eCommerce (34%), hospitality (31%), travel (30%), sports (21%) and gaming (16%).
“Early releases of identity verification and facial recognition technology failed to deliver on the promise of trustworthy digital identification,” Incode Technologies’ CEO and Founder Ricardo Amper said in a press release. Developers and companies must deploy next-generation, privacy-powered biometrics models that uphold the highest industry and technical standards for facial recognition and fraud prevention.”
Amper suggests that there is a “massive opportunity” to rebuild trust, particularly in the financial services, retail, hospitality and travel sectors.
The survey spanned North America, the UK and Asia Pacific and included feedback from 1,000 consumers over the age of 25.