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In The eCommerce Age, Consumers Want To Control Authentication 

Consumers Aim To Control Authentication

Fraudsters are getting ever nimbler at tricking consumers into divulging information that is then used to compromise accounts. Against a backdrop where eCommerce is worth trillions of dollars, consumers want more control over how transactions are authenticated. The Consumer-Centric Authentication Playbook shows that an overwhelming majority of users want the flexibility to set such protocols within their mobile banking apps – but FIs are lagging in meeting those demands.

Data:

70.2 percent: Share of users who say they want controls for added security.

93.1 percent: Portion of consumers who want to choose their login authentication methods.

86.5 percent: Share of consumers who would like transaction-specific authentication requirements.

34.3 percent: Portion of consumers able to choose their own login authentication methods.

$3T: Estimated global value of eCommerce in 2019.

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