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Digital Identity, Security & Online Fraud

Asian companies seem sold on biometrics

Wednesday 17 January 2018 | 10:29 AM CET

A research conducted by East & Partners Asia has revealed that a third of all large corporations in Asia believe biometric authentication modalities are far more secure than current practices. 

The market research company interviewed 947 chief financial officers and corporate treasurers from the top 1,000 financial institutions across ten major markets in Asia, and found that while only 3.2% currently use biometrics, passwords are gradually becoming a thing of the past. Only two out of five respondents said they are comfortable with using passwords to secure payments.

Behavioural analytics based on distinctive patterns in keystrokes or gestures are the preferred authentication method for almost 16% of those surveyed. Traditional authentication methods like security tokens and one-time access codes (OTP) are expected to decline in use from 52.7% of Asian corporations to only 38.9% in the near future. Biometrics and pattern-based authentication will be added as a layer of a multi-factor authentication process, in part due to consumers becoming accustomed to biometrics with the proliferation of technologies like fingerprint scanners in mobile devices.

More: Link
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