Consumers are actually open to —and even demanding — two-factor authentication safeguards such as biometrics for their online accounts, a new study has found.
Nearly three-quarters (72%) of Canadians would allow their bank to analyze behavioural biometrics, like typing speed, to secure their online financial information, according to a recent study by FICO, a company best known for providing credit scores, but which also analyzes data and security.
Almost two-thirds (64%) of survey respondents said they’d be happy to give their bank biometric information. Forty-three percent said they expect to set up biometric security features, such as a fingerprint scan, when opening an account.
“The data shows that Canadians are open to additional methodologies,” said Liz Lasher, vice president of fraud, financial crime, and cyber risk portfolio marketing at FICO. “So perhaps those innovations and additional security measures won’t be as painful or friction-causing as many organizations fear. The data is really compelling for businesses to show that they can increase their security innovations without fear of consumer backlash.”
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Furthermore, while many…
