SubscribeIn a 2007 telephone survey, businesses with online banking facilities were asked if a biometric signature was preferable to their current method of authentication - 60% said yes, with 83% saying that it would be desirable if their bank offered biometric signature authentication as an alternative authentication method.
Medium sized businesses want better banking service
KeCrypt Systems commissioned neo:researcher to undertake a telephone survey of medium size businesses, in order to gain their opinions of their current online banking facilities and the authentication and authorisation methods used. The businesses came from a cross section of sectors and respondents were senior representatives who had direct use and responsibility for online banking.
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Lack or security awareness
Users of internet banking or online transactions are not very security conscious. Only 13% had any security concerns of their online banking facility. Convenience of use was top scoring. So when asked specifically about the use of multiple passwords and PINs as an authentication method - 60% said the problem was remembering/forgetting passwords, and 96% said they had no concerns or only minor concerns about security of passwords.
Yet checking the use of passwords and PINs for online banking access, there was evidence from the survey that passwords and PINs were being written down and, that whole departments knew how to access online accounts, rather than on a strictly 'need to know' basis.
Biometrics preferred as alternative authentication
When provided with alternative methods of authentication 50% would prefer a biometric to any other method. This repeats findings from other surveys which clearly demonstrate that users prefer biometrics to passwords and PINs.
Of those preferring biometric authentication 80% saw it as being more secure and 27% saw it as more convenient than remembering passwords and PINs.
Banks urged to offer signature biometric authentication
When asked if a biometric signature was preferred to the current method of authentication 60% said yes, with 83% saying that it would be desirable if their bank offered biometric signature authentication as an alternative authentication method.
Signing up to the signature
There's no doubt that a simple signature is the most familiar and authoritative way of signifying agreement and approval. It confirms intent and is integral to the legal process.
KeCrypt's unique biometric solution is unlike any other signature recognition system. At no time does KeCrypt's solution ever store a template, an image, or even accessible data, for comparison purposes. So nothing exists that can be copied, forged or falsely activated.
Instead, it identifies the unique characteristics of the way the signature is signed -its acceleration, speed, pressure and time, and not the way it looks. This makes it virtually impossible to copy - or to refute.
The signature has come full circle. Once it was almost the only way for individuals to confirm their identity in a simple, convenient, authoritative and legally acceptable way. Passwords, PINs and Smart card technology have tried to replace the signature in a digital world.
But now, thanks to KeCrypt's biometric signature verification, it has made them all redundant and the signature again can take it's rightful place as the most appropriate means of authorisation.