A significant 56% of online consumers prefer biometric security for accessing financial accounts over traditional methods. The document highlights that identity fraud poses a major threat, accounting for 53% of all fraud cases in the UK, and suggests banks stand to benefit as 29% of consumers are more likely to choose banks offering biometric security. Various biometric technologies are in demand, including fingerprint scanners, facial recognition, and voice verification, with a majority of consumers showing interest in these innovations.

1. THE THREAT
WWW.INTERQUESTGROUP.COM/INFOSECMAY 2017
BIOMETRIC SECURITY: CONSUMER DEMAND
“56% OF PEOPLE ONLINE WOULD PREFER TO USE BIOMETRIC
SECURITY MEASURES TO ACCESS THEIR FINANCIAL ACCOUNTS, FAR
OUTPACING TRADITIONAL IDENTITY VERIFICATION METHODS.”
JOHN MARSDEN, HEAD OF ID AND FRAUD AT EQUIFAX
Identity is the no.1 fraud threat to UK businesses and consumers accounting for
53% of all fraud cases.
53%
60%
of consumers would consider
using iris scanning technology.
WHY SHOULD BANKS START USING BIOMETRIC SECURITY?
29%
of consumers say they would be more likely to use a bank
that offers biometric security.
SOURCES: EQUIFAX.CO.UK, INTELLIGENTENVIRONMENTS.COM
WHAT BIOMETRIC TECHNOLOGIES ARE CONSUMERS
DEMANDING?
57%
of consumers would consider
using fingerprint scanners.
55%
of consumers would consider
using facial recognition.
45%
of consumers would consider
using voice verification.
37%
of consumers would consider
using Electrocardiogram (ECG)
heartbeat monitors.
37%
of consumer would consider
using vein verification.
of British consumers are likely to be swayed by quality of
security measures when choosing who to bank with.
37%