Banks considered more trustworthy
Brits don’t feel comfortable trusting the government with their biometric information, a new research by Visa hs found.
The survey pointed out that 60 per cent of Brits trust their banks with confidential information like biometric data and retina scans as opposed to only 33 per cent having confidence in the government to do the same.
While 85 per cent said they are more likely to trust banks with biometric payments, 81 percent chose payment networks and 64 per cent opted for smartphones.
“Banks have a tremendous opportunity in this payment revolution,” said Kevin Jenkins, UK & Ireland Managing Director at Visa. “From trialling voice recognition to behavioural biometrics for authentication, we’re already seeing banks – both high street and challenger banks, alike – making positive steps to adopt this technology in a variety of use cases.
“This consumer confidence in both authentication as well as the storage of their biometric data gives banks the perfect win-win scenario, enabling them to provide a service that the public wants which will also benefit the banks, themselves.”