In an increasingly online era, consumers are more and more concerned with the safety of their data. But with online fraudsters using methods that improve every day, there may soon be a time when passwords — the central axis of most traditional digital security solutions — can be broken and traded in no time at all.
For Dr. Mohamed Lazzouni, Chief Technology Officer of Aware, the solution is already out there: biometrics. And the companies that haven’t already gotten on board may soon be left in the dust.
Biometric authentication can take a variety of forms, from facial recognition to voiceprint authentication to fingerprint scanning. Biometric security measures not only are considerably more difficult to falsify than traditional alphanumeric passwords, Lazzouni explains, but also hold a great deal of trust among consumers.
Biometric security features such as facial recognition are being used by an ever-larger portion of the world’s financial institutions, and customers are taking notice, according to Lazzouni. Citing a report by the Business Performance Innovation Network, Lazzouni notes that more than four out of five consumers seek brands that deliver safe and fast identity authentication measures, suggesting that firms that use biometrics are poised to dominate the market in the next few years.