Expert biometrics comment: Barclays to abolish passwords for phone banking
August 2016 by Charles Read, Regional Director - UK, Ireland and Benelux
In light of the news that Barclays to abolish passwords for phone banking, I just
wanted to get in touch with expert comment from Charles Read, Regional Director of
UK, Ireland and Benelux at, provider of IAM solutions, OneLogin.
Whilst convenient, the below comment looks at how biometric technology is gaining
rapid adoption within the consumer arena, but very few people realise the potential
flaws behind the use of such methods. Highlighting how biometric methods should be
used as an additional layer of authentication, particularly as recent research from
OneLogin<https://www.onelogin.com/>
revealed that 35 per cent would actually share
passwords with close friends and family.
The
news
that voice-recognition technology has been introduced by Barclays for telephone and
online banking as a replacement for passwords is great news for the continued
success of biometric-authentication technology. This is another prime example of how
the technology has seen rapid adoption within the consumer arena, gaining traction
as the primary form of authentication to protect devices, apps and data. However,
when it comes to the corporate environment, biometric authentication has a long way
to go in order to catch up to the level of adoption seen within the consumer realm
today.
Whilst convenient, very few people realise the potential flaws behind the use of
such methods, which can be a hindrance for organisations looking to include the
authentication method as a single form of authentication. Rather biometric methods
should be used as an additional layer of authentication as part of a wider Identity
and Access Management (IAM) strategy, particularly as recent research from
OneLogin<https://www.onelogin.com/>
revealed that 35 per cent would actually share
passwords with close friends and family. To avoid this, financial institutions in
particular must embrace methods of Biometric authentication which are easy to use,
non-invasive and non-threatening, no matter where customers are accessing their bank
accounts from.