According to some recent researches it has been noticed that in the last two years, there has been a massive increase in the demand for banks to use biometric measures to strengthen security. As iris scanning is already starting overshadow fingerprints as the most-wanted technique, the day is not far when such technology will be made mandatory for security purpose.
As per a survey done it has been found that majority of people are getting more interested in using iris scanning for biometric authentication. This shows that using your eye to login is becoming a preferred choice than fingerprint verification.
Fingerprint verification was the best method available back in 2014, but it is now being overtaken by iris scanning. Facial recognition, Voice recognition, Vein and Heartbeat verification are other options available for authentication. After the recent rise in cyber-attacks almost everywhere in the world security has become an important concern, especially while choosing a bank.
As per the survey, nearly half of the respondents would prefer to go for biometric tools of any type to access their bank account, with one-third preferring to go with a bank offering biometric verification options.
Even after what seems to be fast-increasing demand, the actual implementation of biometric features in banking logins remains very low. The traditional Passwords and PINs are no longer seems up to the task of securing an individuals’ valuable personal and financial details.
In the end, one will agree that banks who introduce biometric security features in their system are more likely to engage new customers.