Passwords have outrun their course and it’s time to provide users a simpler, more secure way to validate their identity, according to a recent study.
Consumers are finding it challenging to keep track of their password credentials due to the abundance of digital services available. According to a survey, 58 percent of respondents reset their passwords at least once a month because they cannot recall them.
Even more concerning, 20 percent of users do so every week. Biometrics are becoming increasingly attractive to consumers who seek greater convenience and security. When given the option to choose between a password or biometrics, 88 percent of respondents prefer biometrics at least half of the time, with one-third always opting for biometrics when available.
“There’s no single or right way for organizations to authenticate customer, employee, or citizen identity,” said Kieran Hernon, VP of Digital Identity Sales EMEA & APJ at Entrust.
“There is always a trade-off between providing relatively frictionless access experiences and incorporating safeguards that confirm users are who they claim to be. The authentication methods you employ can — and should — change depending on the sensitivity of data users are accessing, whether you’re serving customers or employees, or if atypical login behaviours are exhibited.”
According to a survey by Entrust, the market for digital identity is rapidly expanding, and is expected to reach $70.7 billion globally by 2027. However, consumers are struggling to keep up with this evolution.
In the Middle East, 14 percent of respondents were unsure if they had an electronic ID (eID), compared to the 20 percent of global respondents who were uncertain. Despite this lack of awareness about eIDs, consumers are generally in favour of digital identities. In fact, 90 percent of Middle East respondents expressed interest in using a digital form of government-issued ID, citing convenience as the primary reason.
According to the Future of Identity Report by Entrust Cybersecurity Institute, most consumers are aware that exchanging their data for convenience is a necessary compromise, with 80 percent agreeing that sharing personal information is unavoidable to access goods, services, and applications. However, the survey revealed that respondents are divided on how comfortable they are with organisations owning and storing their digital identity, and whether these organisations can be trusted to keep their data secure. The results emphasise the importance of providing consumers with convenient digital experiences for personal identifiable information, as well as offering data privacy controls to regain customer trust.
