Biometric authentication drivers higher trust among mobile banking customers

New research from biotechnology security firm EyeVerify reveals that consumers are onboard with biometrics and, by embracing such authentication methods, brands can grow consumer trust, engagement, and loyalty.

by Helen Leggatt

EyeVerify's survey of just over 1,000 adults in the U.S. found that 79% want more biometrics options than just fingerprint recognition to access their mobile banking or payment apps. In fact, 4 in 10 (42%) said they would not consider using a banking or payment app that did not offer biometric authentication.

As fingerprint recognition becomes more widely used, consumer interest in other biometric forms, such as eye, face, and voice, is increasing. In fact, EyeVerify's research found that, when comparing those who use fingerprint scanning to the general population, the more frequently they use it, the more likely they are to use other biometric forms.

There is good news for brands, too. Offering biometric authentication drives higher trust. More than 8 in 10 (82%) of those surveyed said they perceive banks that offer biometric authentication to be proactively addressing mobile security. Eighty-two percent said biometrics are more secure than passwords and 78% agreed that mobile apps with biometrics are 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."