Sarah Clark of Mitek recently told Pymnts that biometrics are perceived by both consumers and financial institutions as an ideal enabler for securely validating mobile transactions.
“Based on the proliferation of mobile devices and the convenience these offer, Goode Intelligence predicts 1 billion customers will use biometrics to access banking services by 2017,” she explained.
“Furthermore, the accelerated rollout of biometric-enabled banking will virtually make biometrics accessible to anyone with a smartphone.”
Over the last 12 months, says Clark, financial institutions and payments companies have recently improved security, expanded their mobile offerings and rolled out digital commerce capabilities. This is expected to prompt changes in consumer payment behaviors, paving the way for more engaging and secure user journeys.