Four Out of Five Americans Believe Passwords Do Not Secure Access to Banking and Government Digital Services
May 01 2024 - 5:00AM
Business Wire
- New survey shows Americans need data privacy
and user convenience to fully embrace digital transformation –
Four out of five (79%) Americans believe there must be a more
secure solution than passwords to access important sites like
banking and government services. Facial biometrics has emerged as
the front-runner to replace passwords, with seven in ten Americans
stating that they are likely to use it to verify their identity at
financial institutions and for government websites provided clear
assurances can be given on how their data is used and stored.
That’s according to a new independent survey of 2,000 US consumers
published today by iProov, a leading provider of science-based
biometric identity solutions.
As more high-value consumer services are delivered online,
evidence of Americans’ concerns over the security of how they
access these services has grown. Seven in ten (70%) Americans no
longer trust passwords to verify their identity online and believe
a more reliable solution is needed. These fears are well-founded
and have costly implications: according to FBI data, their Internet
Crime Complaint Center logged a record number of consumer
complaints in 2023, with potential losses exceeding $12.5 billion.
The iProov Biometric Pulse Survey sought to better understand
Americans’ changing perceptions toward how to securely verify a
person’s identity online and their comfort level with passwordless
authentication methods like biometric facial verification.
While Americans are eager to embrace the conveniences of digital
transformation in their daily lives, current security practices are
falling short and leading to massive levels of fraud which creates
distrust with consumers and large financial losses for banks,
retailers, and government agencies. If organizations can’t provide
secure online services, financial and reputational losses will
reduce the competitiveness of commercial enterprises and limit the
equal accessibility of government services.
“Facial biometrics are unique in their ability to provide equal
levels of security and user convenience, frustrating would-be
fraudsters while delighting authorized users. Unlike many security
technologies, facial biometrics can be used throughout the user
lifecyle, including initial remote onboarding to authentication at
appropriate intervals,” said Ajay Amlani, SVP, Head of Americas,
iProov. “It is time for government and commercial enterprises to
give their users a modern, passwordless solution that conveniently
delivers high levels of security combined with the assurance of
personal privacy.”
Americans Receptive to Facial Biometric Technology in Daily
Life
Americans recognize the practicality and security of employing
facial biometric technology in daily tasks. Two-thirds (67%) of
respondents said they would use facial biometrics at transportation
hubs like airports and train stations while three in five (61%)
would be likely to use facial biometrics at stores and e-commerce
websites. Over two-thirds (70%) of Americans said using a digital
government identity card such as a mobile driver's license (mDL)
for identity verification would be highly convenient.
The Dangers of Generative AI and Deepfakes
Generative AI looms large as a significant threat to remote
identity verification systems and opens the door to a new breed of
sophisticated attacks. It can be used to create highly realistic
deepfakes (synthetic images, videos, or audio recordings) to
impersonate legitimate individuals, bypass remote identity
verification systems, or trick employees into divulging sensitive
information.
Worryingly, half of Americans (47%) say they would have no
problem spotting a deepfake image over a real user image, while
over half (53%) acknowledge difficulty in doing so. The stark
reality is the quality of today’s deepfakes makes it virtually
impossible to distinguish between genuine and fabricated content
without sophisticated tools and monitoring systems. This leaves
individuals and organizations vulnerable to identity theft, fraud,
and targeted social engineering schemes.
Keeping it Personal
As privacy concerns escalate in the digital age, Americans have
become increasingly vigilant about safeguarding their personal
information when engaging online. An overwhelming majority (78%)
are reluctant to share personal information online due to privacy
issues. However, they would reconsider if reassurances were given
on how their data was being used and stored.
A Hard Pass on Passwords
Password fatigue is also taking its toll, with seven in ten
(70%) Americans having had to reset a password to access an online
service at least once in the past six months, often encountering a
difficult and time-consuming process.
Methodology:
iProov worked with a third-party market research firm to survey
2,000 American adults, aged 18 and older to understand their
impressions of and comfort level with biometric facial
verification. This survey was conducted online between February 28
and March 3, 2024.
About iProov
iProov provides science-based biometric identity solutions that
combine exceptional user experiences with the highest levels of
assurance. The company's Biometric Solutions Suite enables secure
and effortless remote onboarding and authentication, streamlining
both digital and physical access experiences. Backed by a unique
blend of scientific expertise, AI, and proactive threat
intelligence, iProov safeguards high-value transactions and
empowers organizations seeking innovative identity verification
that outpaces evolving threats without compromising usability. With
proven success in global deployments, iProov is a trusted partner
for governments and enterprises, including the Australian Taxation
Office, GovTech Singapore, ING, Rabobank, UBS, U.K. Home Office, UK
National Health Service (NHS), and the U.S. Department of Homeland
Security. In December 2023, Gartner listed iProov as a
representative vendor in the Innovation Insight report for
Biometric Authentication and Acuity Market Intelligence listed it
as a Luminary in the 2023 Biometric Digital Identity Prism. iProov
was also recognized as an Innovation Leader by industry analyst
KuppingerCole, in the Market Compass, Providers of Verified
Identity 2022 report. For more information, please see
www.iproov.com or follow on LinkedIn or Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501400475/en/
Louise Burke Global PR Manager iProov
Louise.burke@iproov.com