EyeVerify Survey Reveals High Consumer Trust in Biometrics

May 4, 2017         By: Mike Dautner

EyeVerify Inc., recently released The Retail Banking Biometrics Confidence Report to offer financial institutions a look inside consumer preferences and behavior regarding various biometrics offerings.

The survey of 1,002 U.S. adults suggests that people are all in for biometrics, and are looking for more options for mobile banking as a whole. They feel that biometrics is a more secure method in protecting their precious information than passwords. 8 out of 10 respondents claim they want the opportunity to use more biometric authentication methods beyond the fingerprint to access mobile banking or payment apps.

In addition, 42 percent said they wouldn’t use a banking or payment app that doesn’t offer biometric authentication.

“Most people use some form of biometrics every day, but they want more opportunities to use it to make their lives easier and more secure. Banks and payment providers have a huge opportunity right now to build brand trust by giving customers the user experience they want,” said Toby Rush, CEO and Founder of EyeVerify. “Those who are investing in biometrics authentication will be able to increase customer usage and reduce risk at the same time.”

The report discusses the popularity of various biometrics modalities for mobile banking, frequency of use, and more, the give user experience, security and fraud prevention professionals at financial institutions data that can inform their biometrics investment decisions.