“We use passwords constantly to log into dozens of systems and services every single day. And as the number of systems and services we subscribe to grows, the more we have to remember.
According to a study from Cyber Streetwise, the average consumer in the U.K. needs to recall 19 passwords on a regular basis for desktop and network logins, email, social networks, e-commerce and banking. As the number of online services increases, so too does the complexity of the passwords as users now often are prompted for alphanumeric combinations while also being mandated to change passwords on a regular basis.
While this process is frustrating, authenticating consumers quickly and securely is critical to all industries, none more so than financial institutions. The challenge is to guarantee effective security without harming the user experience.
Consumers demand a balance between security and simplicity. This is where the use of biometrics comes into the picture by providing faster, easier and more robust authentication in a seamless way.”
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