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2010 Authentication Report: Knowledge-Based Authentication Dominates While Biometrics And One-Time Passwords Advance Among Mobile and Online Bankers
Javelin Strategy & Research, November 2010, Pages: 27
In the five years since the Federal Financial Institutions Examination Council (FFIEC) required two-factor authentication, financial institutions have augmented username and passwords with images, which accountholders choose, and security questions, or knowledgebased authentication (KBA). Do consumers continue to see benefit from these methods? Are they still effective or easy to use? Or might newer technologies such as one-time passwords (OTPs) or biometrics hold more promise? Which authentication methods offer the most opportunity for growth in the year ahead? And does form factor play a role in determining what works best for online bankers and mobile bankers? This report focuses on two channels, online and mobile, and reviews consumer attitudes toward four authentication technologies: security questions, image recognition (mutual authentication), one-time passwords and biometrics.
- Which authentication methods are consumers familiar with and do they currently use?
- Which authentication method do consumers prefer for effectiveness and ease of use?
- What role does form factor play in consumer preference for authentication method?
- Are consumers growing tired of familiar technologies?
- How has one-time password technology changed?
- How has biometrics changed, particularly on the mobile device?
This report is based primarily on data collected online in August 2010 from 1,995 consumers representative of the U.S. population in gender, age, ethnicity and income. Overall margin of sampling error is ±2.19 percentage points at the 95% confidence interval.
The report also incorporates data collected by Javelin in a random-sample panel of 2,019 consumers collected in November 2009, with an overall margin of sampling error of ±1.71 percentage points at the 95% confidence level.
The surveys targeted respondents based on representative samples of gender, age, income and ethnicity compared to the overall U.S. online
The methodology for the Consumers’ Ratings of Effectiveness and Ease of Use of Authentication Technologies chart came from last year’s report, Multi-Channel Authentication via Mobile Banking: Assessing the Technologies, Vendors, and Solution Providers, in which Javelin ranked authentication technologies across five channels. In 2009, Javelin looked at how these technologies could be used to authenticate users across five channels. This year’s report focuses on the online and mobile channels and four authentication technologies: security questions, image recognition (mutual authentication), one-time passwords and biometrics.
Rounding (in the underlying numbers) in charts accounts for the slight differences in percentages.
Executive Summary and Recommendations
Consumers’ Familiarity with Authentication
Online Consumer Authentication
Mobile Consumer Authentication
Vein Pattern Recognition
Table of Figures
Figure 1: Consumers’ Familiarity with Authentication Methods
Figure 2: Consumers’ Ratings of Effectiveness and Ease of Use of Authentication Technologies by Type
Figure 3: Online Bankers’ Perception of Effectiveness for Online Authentication by Type
Figure 4: Online Bankers’ Perception of Ease of Use for Online Authentication by Type
Figure 5: Online Impact of Authentication Technology on Online Bankers’ Activity by Type
Figure 6: Mobile Bankers’ Perception of Effectiveness for Mobile Authentication by Type
Figure 7: Mobile Bankers’ Perception of Ease of Use for Mobile Authentication by Type
Figure 8: Online Impact of Authentication Technology on Mobile Bankers’ Activity by Type
Figure 9: Pros and Cons of One-Time Password Generators
Figure 10: Examples of Old and New Biometrics Technologies
Figure 11: Pros and Cons of Vein Pattern Recognition Technologies
Figure 12: Pros and Cons of Voice Biometrics
Figure 13: Pros and Cons of Facial Recognition
Figure 14: Online Impact of Authentication Technology on Online Bankers’ Activity by Type, 2009 vs. 2010
Figure 15: Online Impact of Authentication Technology on Mobile Bankers’ Activity by Type, 2009 vs. 2010
- Polar Rose