Nine out of 10 consumers and banking professionals want biometric authentication put in place, but a skills gap stands in the way. Both banks and their customers favour the use of biometrics in consumer financial services, but adoption remains sluggish due in part to the lack of technical know-how within financial institutions, according to a new study. Research carried out by MasterCard and Oxford University found consumers overwhelmingly preferred biometrics – such as fingerprint or iris scans – over passwords or PINs for authenticating payments or other financial services, with 93 percent indicating their preference.
ORIGINAL SOURCE: Silicon UK
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