UK adults comfortable using biometrics to access online banking

January 13, 2016 - 

According to new research by information services firm Experian, the British public are warming up to the use of biometrics as a means of security and authentication with 61% of people feeling that biometric technology is as secure, or more secure, than the current online system of passwords.

The research also found that 64% of UK adults would be comfortable using biometrics to log into their online banking account and 19% of those surveyed also said they would be comfortable using iris recognition as an additional form of identification.

Ian Cunningham, managing director of ID and fraud at Experian, commented that, “Recent innovations have really brought biometrics into everyday life and now the majority of UK adults are willing to accept it as a form of ID verification for accounts. Fear of falling victim to ID theft and perceptions about security have driven this acceptance to some degree.”

“However, it would be wrong to say that biometric technology should be adopted in place of passwords, because the best way to stop fraudsters is to make them face a number of barriers. Not just one,” Cunningham continued. “The fewer the layers of security, the more vulnerable to theft those systems are. Of course there needs to be a balance between risk prevention and the experience of the person trying to log on.”

The survey found that people are most comfortable using biometric identification for:

Online banking – 64%

Authorizing payments – 54%

Email services – 43%

Online retail accounts – 41%

Pension access – 38%

Social media accounts – 32%

In related news, MasterCard recently conducted a global survey that found that advances in biometric authentication technology is slowly shifting consumers away from using passwords for authenticating online purchases.

Leave a Comment

comments

About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.