More than half of Brits want their banks to integrate fingerprint biometric authentication technology into their digital services, according to a survey.
This is surprising as smartphone penetration in the UK has yet to reach 79%.
How exactly will all these people opting for biometric authentication manage to use it?
I suspect there were some very leading questions in this survey.
The biometric facility on the S5 is annoyingly hit and miss - and that is just to unlock the handset. Relying on current mobile biometrics just to check my balance? No thanks.
@Ketharaman - Password on mobile banking isn't inherently bad, just when it's done badly. Typing in a 4 or more digital code (just like unlocking your phone) is completed in moments and fulfills its need perfectly.
For many mobile banking apps now you don't even have to login to check your balance. You only need to do do anything more and then it's just entering a code usually between 4 and 8 digits.
Mobile banking security is working very well as it is. I'm open to improvements but I just don't see biometrics working. They've been around a long time and the interest has never got beyond a small niche
After using fingerprint ID for iTunes and and anything else my iPhone lets me I find it an incredibly frictionless experience. Which is crucial in micro interactions. Fingerprint is also more secure than a password or PIN (ie 'favourite pet'01 and 'birthday
year' +1). We have been on a journey reducing access to our customers - from full log in to PIN and now customers can see account balances before they log in. Mobile usage as grown 700%. It's our duty to remove the friction with security. I think biometrics
is a good option.
@FinextraMember: A 4-digit code is akin to a PIN #, which is used by one of my other bank's Mobile Banking app. While it suffers from the "yet another password" problem, it's quite convenient. But I wasn't referring to that. My problem is with carrying forward
the same, strong Internet Banking password into Mobile Banking. While fingerprint might be hit-and-miss, an average mobile banking user won't do better trying to type MvC!@##1 or some password like that on the virtual keyboard of a smartphone!
We all love frictionless solutions but are we doing so at the expense of security?
Fingerprint scanning on smartphones were hacked very quickly. Disappointing, but until these solutions hold their own against hackers is it wise to pursue this route?
I hear what you're saying Sian. But I feel the "password paradigm" we operate in actually drives less secure behaviours from users. Humans generally seek the most efficient way to a goal and password security requires us to take a very inefficient route.
That's why we see so many hopeless passwords using birthdates; pet names; sport team names. The end-game with biometrics offers a much more effective and efficient solution than people having to remember things - so I think investing in this area is a good
investment for banks in the longer term.
Basic £85-110K dependent on experience OTE circa £...London
© Finextra Research 2015