Survey shows half of U.S. customers would use biometrics at bank branch

Nearly half of U.S. bank customers would feel secure using biometrics for authentication at a bank branch, in one of the shifts in attitudes about financial activity driven by digital habits, according to new survery results announced by fintech firm Fiserv.
The 2018 Expectations & Experiences: Channels and New Entrants survey shows that online banking adoption has reached full maturity, with 90 percent having accessed online banking, and those who have done so in the past month reporting an average of 9 monthly visits. While only 70 percent have accessed bank services through the mobile channel, those who do so log on even more frequently.
Importantly for biometrics providers and other tech companies, the number of people who would be comfortable paying bills through a technology company such as Google or Apple increased from 40 percent in 2017 to 55 percent this year. The number of people who would hypothetically take out a loan through a tech company increased by 10 percent, and Fiserv found even larger increases in the number of people who would be comfortable tracking a budget or transferring money through a tech company.
“The world is being shaped by digital connections and convenience, providing an opportunity for financial institutions to incorporate relevant new technologies and enable customers to manage their financial lives with ease any way they choose to engage,” said Dan Bjerke, senior vice president, Digital Banking, Fiserv. “From the moment they pick up their phone or walk into a branch, consumers expect intuitive, seamless banking experiences and a high level of confidence in security across every channel.”
Banking through the voice channel is perceived as faster than mobile banking by 31 percent of millennials, and 32 percent see it as beneficial due to freeing up their hands to do other things. Barriers to voice banking among millennials remain, however, including a perception held by 35percent that it is less secure.
Article Topics
authentication | banking | biometrics | Fiserv | secure transactions
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