Over half of consumers (57%) in the UK would be happy to replace passwords and pins with biometric verification, according to a study from Equifax.
The main appeal of biometrics is how it can speed up the verification process, with 40% of respondents indicating it as a key reason of using it. Other popular draws of the technology are security (27%) and confidence (21%).
Not all respondents were optimistic about the technology, 13% feared using biometrics and 13% were self-conscious of its use.
People are moving towards biometrics due to their disdain for the current procedures used for verification. Half of those taking part in the survey stated they had abandoned a digital registration process due to frustrations with the process.
Of those to leave an online registration, 52% did so because it took too long and 42% felt it was too complicated. Around 38% of consumers said they did not have all the required information and documents to hand and 21% said they did not trust the process was safe and secure.
Equifax head of ID and fraud Keith McGill said, “It’s no surprise to see such frustrations towards the myriad of passwords, pin codes and security phrases. People are encouraged to always have unique information for each website or account they hold, meaning a list of codes and phrases that is unrealistic for many to remember given the volume of registration processes they are asked to undertake in modern society.
“Lengthy, complicated and onerous registrations will soon be a thing of the past, with biometrics leading the way in the future of identity verification and modern financial relationships.”
Equifax’s study was conducted online in October 2019 and received 2,000 responses from UK residents.
Its research suggests a differing opinion towards biometrics in the UK than other parts of the world. Research form Paysafe claim around online payments found 56% of consumers feared biometrics would increase fraud levels and 81% stated they would still prefer to use passwords for online payments.
The research sought responses from consumers in the UK, US, Canada, Germany, Austria and Bulgaria.
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