Survey of Fintech and Banking Executives Reveals Identity Authentication Risk and Customer Dissatisfaction Top List of Concerns

“Identity authentication is most often conducted with one-time passwords (36%) or a combination of OTP and KBA questions (29%).

While respondents’ familiarity with facial biometric identity authentication is high (88%), less than one-quarter (22%) currently use this technology.

More than two-thirds (70%) of respondents are either “highly likely” or “somewhat likely” to consider facial biometric identity authentication as an alternative to OTP/KBA questions during the next year.”

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