Comment: Monzo urges customers to change PINs
August 2019 by David Orme, SVP at IDEX Biometrics
Following the news that Monzo has urged nearly 480,000 customers to change their PIN numbers, the comment from David Orme, SVP at IDEX Biometrics, on the dangers of third-party databases and why fingerprint authentication holds the key to better protecting customer information.
“Unfortunately, we live in a world where our personal information is both more valuable and vulnerable than ever. Today’s news that Monzo customer PINs have been incorrectly stored for the past six months is another reminder of the risks presented by third-party databases. Today, consumers expect a better way to protect their sensitive information. Fingerprint authentication holds the key. By switching to payment cards with integrated fingerprint sensors, customer data would only be held on the card, not in a central log the way that PINs often are - making it inaccessible to anyone who is not physically present with the card. Adopting fingerprint biometric payment cards is imperative to improve customer trust and protect us all from future data breaches.”