According to a recent study conducted by the Ponemon Institute, 62% of respondents said they do not trust systems or websites that only rely on passwords to identify and authenticate users or consumers. The same percentage did not trust systems or websites if identity and authentication procedures seem too easy.
Findings indicate that consumers already expect security in their online financial actions. The highest expectations were logged for filing a tax return, making mobile payments and banking. Conversely, shopping, watching a video or listening to music, and using social media had the lowest expectations of security.
The data reveals that 63% of respondents thought voice verification would be an acceptable method of biometric authentication, and more than half believed biometrics and software tokens embedded in a smartphone or tablet would be a preferred authentication method.
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