Time to leave the passwords behind. Consumers are leaning that way — and would be happy to abandon that age-old, friction-filled relic that traces its genesis to the dawn of the Internet.
The latest edition of The Digital Fraud Tracker found that a majority of individuals would move past the password.
If given the chance.
By way of example, 68% of consumers would be willing to use non-password login options on their mobile apps.
Another 54% would be willing to do the same on their mobile device browsers. Nearly half, at 49% would opt to use non-password methodologies on their computer browsers.
The findings come as 75% of businesses believe that developing better fraud detection processes is important. The urgency is there, given the fact there were a record 1,025,968 phishing attacks globally during the first quarter of 2022.
The door is opening, then, for authentication to increasingly be done by behavioral analytics. Here, it is what the user does and the device they have in hand that help streamline online interactions and ward off the fraudsters, cutting down on false positives. Advanced technologies parse how individuals wield their devices, how they type and enter data and leverage geolocation to help prove that people are who they say they are. The Fast Identity Online (FIDO) Alliance also promotes the processes where the devices themselves authenticate identities as the devices are unlocked.
Elsewhere, in a recent interview with PYMNTS, Entersekt Chief Technology Officer Gerhard Oosthuizen said that strong authentication and application programming interfaces (APIs) would do much to help foster friction-free commerce. In his commentary, he stated that pop-up authentication requests tied to biometrics would let users just “touch” their IDs to go ahead and use their Mastercard, Visa or Amex credentials.