BROOKFIELD, WIS.– Biometric security shows promise in mobile banking, according to new research from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions. In the company’s quarterly consumer trends survey, fingerprints are preferred over passwords insofar as consumer expectations for secure, real-time transactions.
The survey shows that as mobile banking has matured it has shifted from being a channel used to access information – such as viewing balances or statements – to a transactional channel, and the 3,000 U.S. banking consumers surveyed by Harris Poll showed the majority of them are ready to embrace biometrics:
“Biometric security appears to have the potential to provide people with greater assurance than more conventional measures. While 41 percent of consumers indicated they would feel secure using a password as an authentication method to confirm their identity when using a mobile app, 62 percent said they would feel secure using fingerprint technology. This could have significant implications for overcoming consumer security concerns related to mobile payment methods.”
A paper summarizing the survey’s findings “Expectations & Experiences: Consumer Payments” is available at http://fisv.co/payments-expectations.