Access Softek, Inc., an omnichannel digital banking platform provider, released a survey outlining consumers’ interest in biometric authentication methods.
According to a survey of 500 financial service consumers, more than 63% of respondents agree that having a modern, easy-to-use, mobile biometric feature for verification would improve their service and support experience. Moreover, the survey concluded that more than 48% of respondents would like to see a consistent, unified verification method across channels, while 47% said they would have an increased appreciation of their financial institution if it had mobile biometric verification in the contact center.
To solve this need, Access Softek developed an API to give financial institutions the access needed to its Biometric Authentication Manager from any platform, regardless of the provider. This means banks and credit unions can now authenticate callers via the mobile phone across any channel, including branch, IVR, contact center, or digital banking technology simultaneously.
“There is a direct correlation between the use of passwords or pins and security breaches for financial institutions,” said Chris Doner, founder and CEO of Access Softek. “By using mobile-based biometric authentication such as fingerprint scans or facial recognition, financial institutions reduce their risk of fraudulent behavior, eliminate the password and create the most secure experience for customers and members engaging with their bank or credit union. These measures help users quickly and easily verify their identities and ensure that financial institutions are interacting with the right account holders.”
Biometric Authentication Manager verifies the account holders’ identity through facial recognition or fingerprint scanning via their mobile device. This removes the stress and risk associated with passwords. By using the API, Access Softek gives financial institutions the opportunity to create a quick, easy and secure verification experience in any step of the user’s journey, while providing substantial cost-efficiencies for the financial institution.