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11/23/2021

Consumers Ready To Look Past Passwords To Keep Digital Bank Accounts Secure

PYMNTS.com

Convenience and trust are the principal catalysts of consumer behavior and brand choice in banking. Many consumers are “cross-device” users who leverage numerous devices to access financial services accounts according to their in-the-moment needs. These consumers have high expectations for their digital experiences, and their elevated standards extend to how financial services providers protect their data and manage their transactions.

This is just one of the findings revealed in The Passwordless Future: Decoding Consumers’ Device-Based Authentication Preferences, a PYMNTS and Entersekt collaboration. We examined 2,719 responses from a census-balanced pool of adult American financial and digital account users to determine their views on the security of their digital financial services accounts and the role of user authentication in their perceived sense of safety online. PYMNTS reviewed data on how consumers accessed and interacted with their digital financial services accounts on laptops, desktops and mobile devices and how they viewed the quality of their user experiences on each device.

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