Access Softek has released a survey that suggests that there is growing support for biometric authentication amongst the banking public. The results are based on the responses of 500 financial services consumers, and show that the majority (63 percent) of those consumers believe that mobile biometric authentication would lead to better overall banking service.
By the same token, 47 percent of the respondents indicated that they would think more highly of a financial institution that offered biometric authentication in call center interactions. A similar number (48 percent) wanted to be able to use a single, consistent authentication method across all of their banking channels.
For its part, Access Softek is trying to meet that demand with the release of a new API that will make it easier for financial institutions to integrate Access Softek’s Biometric Authentication Manager into their existing security framework. The Manager lets users take advantage of the biometric authentication options on their mobile device, allowing them to conduct a face or fingerprint scan to verify their identity in any banking channel. In that regard, the Manager can secure in-person and digital sessions in addition to call center interactions.
“There is a direct correlation between the use of passwords or PINs and security breaches for financial institutions,” said Access Softek Founder and CEO Chris Doner. “By using mobile-based biometric authentication, financial institutions reduce their risk of fraudulent behavior, eliminate the password and create the most secure experience for customers.”
Access Softek also offers a Real-Time Fraud Control service that supplements its Authentication Manager with behavioral analytics to further reduce the threat of fraud. The company delivered both solutions to the First Service Credit Union in November.
In the meantime, Access Softek has released an automated EasyVest tool that helps financial services customers identify and act on their investment goals. EasyVest debuted last May, and was deployed by the Wings Financial Credit Union at the beginning of the year.
March 9, 2021 – by Eric Weiss