Biometrics are serving a critical role in mobile banking today. In a recent survey; 79% of respondents mentioned that they prefer biometric authentications and as more consumers turn to mobile banking to manage their finances, finding ways to deliver the best user experience possible while offering best-in-class security are paramount for banks and credit unions.
While there are multiple ways to provide that security, technology leaders within financial institutions are finding that users overwhelmingly prefer biometric authentication over other security measures. In fact, users prefer it so much that in a recent survey, 42% of respondents said they would not use a banking or payment app if didn’t offer biometric authentication. And when you’re in an increasingly competitive banking environment, every one of those 42% of users matters to your bottom line.
To find out how your bank or credit union can give consumers the frictionless experience they’re looking for while still offering best-in-class security, check out our white paper, “Bypassing the Password” today.