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How Friendly Friction Builds Better Banking Experiences

PYMNTS

And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.

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Payments 2016: The Year Mobile, Biometrics And Trust Converged

PYMNTS

As a result, authentication and identity verification practices that rely on data only, such as passwords and knowledge-based authentication questions, have been scrutinized and are largely seen as no longer sufficient. With this in mind, financial institutions have invested heavily in biometric authentication user experiences.

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FinovateSpring 2016 Live Blog – Day 2

William Mills

Demo: Sezzle app with knowledge based authentication to link bank accounts. Customers can store all of their online profiles in one secure location to improve user experience. Fiserv is meeting that need for FIs and millennials. Then confirm identity with knowledge based authentication. That’s new.

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