Onepoll research shows that Britain is under siege from passwords

Frictionless Banking and what it means to Financial Services

Onepoll research shows that Britain is under siege from passwords

Nationwide Building Society is exploring the future of authentication, as new research today reveals Britain is a nation under siege from passwords. The average Brit now has to remember six different passwords, while a quarter have over 10 passwords memorised.

More than 70% of Brits surveyed admitted that they struggle to remember their passwords, and on average have to click ‘forgotten password’ links twice a month.

Commenting on the research James Smith, Head of Innovation at Nationwide Building Society said:

“While we all know it’s important to change our passwords regularly, this research highlights just how many different passwords people need to remember in an increasingly digital world. With 19 million logins a month on our mobile bank, ensuring Nationwide’s customers can access our services in a safe, secure and simple way is a key priority for the Society.”

As almost half of those surveyed admitted that there are now simply too many passwords to stay on top of, Nationwide Building Society’s Innovation Team is exploring what the future may hold for authentication with a new behavioural biometric prototype.

The prototype, developed in Nationwide’s Innovation Lab in partnership with BehavioSec and Unisys, explores how a customer’s natural interaction with their smartphone or tablet could provide an additional level of security in the future. Behavioural biometrics recognise the unique features of an individual’s actions and interactions with the device, from the way that they type to how they touch and swipe between screens, and even the way the phone or tablet is held.

James Smith, Head of Innovation, Nationwide Building Society, commented:

“The Society’s Innovation Team is exploring how authentication will continue to evolve and investigating new ways for members to access our services securely yet easily. Behavioural biometrics monitor the patterns and habits that are unique to each mobile banking user – everyone holds and interacts with their mobile device in a different way. The prototype provides an exciting insight into what the future may hold, as we investigate new ways to enhance security while offering an improved mobile banking experience. Exploring the future of authentication is part of our continued commitment to meet the changing needs of our 15 million customers, however they choose to interact with the Society.”

What the future may hold – Behavioural Biometrics

With 70% of Brits wanting more security but not wanting to add to the number of passwords or PIN codes they have to remember, customers’ expectations of authentication are changing.

When asked what the future could hold for mobile phone security, almost 60% of people thought that retina scanners would be built-in to devices within 10 years, with almost 30% suggesting that a whole face scanner will be the way to unlock the mobile phones of the future.

James Smith, continued:

“Whether our customers are online, on the phone or in our branches, meeting their needs for every type of transaction is a complex business. We believe that using a range of biometrics, such as fingerprint, facial recognition, behavioural and voice can give customers choice in how they interact with Nationwide in the future, with implications that go far beyond simply logging in to our mobile app. As authentication technology and customer preferences evolve we will continue to work with our members, Nationwide’s Innovation Lab and technology partners to provide safe, simple and secure access to our services for generations to come.”

Nationwide has a long history of innovating to respond to customers’ evolving needs, by investing in branch, online, telephone and mobile channels to provide continued choice to its 15 million members. Last year the Society went live with Apple Pay, and also committed to invest £500 million over five years to transform its branches. In 2014, Nationwide became the first high street provider to offer customer service 24/7 with their @AskNationwide Twitter Team, and in 1997 Nationwide was first to offer internet banking in the UK. The Society will continue to invest in the next generation of online and mobile services.

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