Consumers Won’t Use a Banking App, Unless It Features Biometric Authentication

  • Grace Noto
  • May 4, 2017
  • 0

Consumers are becoming more comfortable with biometrics in banking—most are now actively asking for the capability to be included in their mobile and online banking experience.

Almost 80% of customers want more biometric authentication methods in their digital banking (online and mobile) experience, according to a survey of 1,000 U.S. consumers released today by biometric identity solutions provider EyeVerify.

Biometrics here are referring to methods of identity verification including that customer’s voice, iris, fingerprint, or photo.

In fact, 42% of survey respondents stated that they would not use “a banking or payment app that doesn’t offer biometric authentication.”

Just having the option in a banking app can increase a customer’s trust in that FI; 82% of customers surveyed believe that banks with biometric authentication abilities are “proactively addressing mobile security,” according to the survey.

Consumers don’t want to just settle for biometrics in a mobile banking app, however–turns out they want to use them for quite a few financial transactions:

 

The full report may be found here.

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