Biometrics is becoming increasingly important for online security, according to a new report

For online security and authentication, biometrics are becoming increasingly significant. Biometrics have even grown commonplace, with at least 25% of individuals using them in some capacity. The FIDO alliance released a report that details the latest consumer trends and authentication technology acceptance around the world.

Consumers’ preferred method of logging in is still passwords. Biometrics, on the other hand, is considered the safest way to log in to online accounts, apps, and gadgets by 32% of customers. When compared to passwords, which remain at 19 percent, this shows that biometrics are gaining traction and usage.

Biometrics recent survey results

Surprisingly, the financial industry was the use case for such authentication that shone the brightest. In the last two months, on average, 35% of users have used biometrics to access financial services, with 28% saying it is their favourite option. Consumers who are concerned about their internet security can take action to protect themselves, according to the report.

The majority of them (43 percent) have strengthened their passwords, but this isn’t the only approach to keep accounts safe. Biometrics (38%) and authentication software have been used by some (21 percent ). More than a third (37 percent) of those who haven’t taken any action say they don’t know-how.

Consumers should be aware of ways to improve their online security, whether through tougher passwords, SMS OTPs, authenticator apps, security keys, or even on-device biometrics, according to the report.

Nowadays Payments are increasingly depending on biometrics for account security and authentication as biometrics increases its reach into the financial industry.

Biometric authentication can also be utilised to safeguard the entire payments environment by incorporating it into the identity proofing process for new accounts. When a person creates an account, they can be verified using a combination of physiological and behavioural biometrics, which can then be used as a baseline for all future user activity and authentication on the platform.

The fundamental attractiveness of behavioural biometrics is its ability to authenticate users without introducing any additional steps, and in most cases, by combining historical data and machine learning to eliminate existing authentication procedures

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