Community
In the study, only three per cent of users chose not to log-in when their secure images failed to flash up. Furthermore, over half (53%) entered passwords when a bank's log-in page was replaced with a warning page.
This latter stat suggests that consumers may be placing too much faith in the ability of new authentication techniques to protect them from cyber-fraud, and disregarding other warning signs.
There's a diffficult lesson for the banking industry here. The reassurance offered by the introduction of new log-in procedures and authentication technologies is welcome, but it should not be oversold. By all means provide a security blanket; just ensure that it doesn't become a comfort blanket.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Roman Eloshvili Founder and CEO at XData Group
31 January
Prakash Bhudia HOD – Product & Growth at Deriv
30 January
Ritesh Jain Founder at Infynit / Former COO HSBC
29 January
Carlo R.W. De Meijer Owner and Economist at MIFSA
27 January
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.