Incode Releases "Consumer Pulse on Biometrics" Survey Report

Nearly half of survey respondents say privacy and security issues block trust in digital ID verification technology 

SAN FRANCISCO, May 10, 2023 /PRNewswire/ -- Incode Technologies Inc., a leading provider of world-class identity verification and authentication solutions for global enterprises, today released its inaugural "Consumer Pulse on Biometrics" survey report, with indicators about consumer priorities and beliefs about biometrics.

The report is based on a survey of global consumers with experience using digital identification apps and services. Over half (54%) of survey respondents indicate that digital authentication methods such as biometrics are revolutionizing the customer experience when it comes to online transactions and payments. However, they are not fully committed. Consumers are hesitant to embrace digital identification. Nearly half (48%) of survey respondents do not see digital authentication as contributing to trust in the online world. This is due to concerns about fraud protections, privacy, and security. 

"Early releases of identity verification and facial recognition technology failed to deliver on the promise of trustworthy digital identification," said Ricardo Amper, CEO and founder of Incode Technologies. "To regain consumer trust, app developers and companies must deploy next-generation, privacy-powered biometrics models that uphold the highest industry and technical standards for facial recognition and fraud prevention."

"Incode's 'Consumer Pulse on Biometrics' study shows that there's a massive opportunity to rebuild consumer trust, particularly in financial services, retail, hospitality, and travel," Amper added.

Survey results reveal that consumers would like to see companies in these sectors offering more digital authentication methods:

• Finance (35%)
• Retail & eCommerce (34%)
• Hospitality (31%)
• Travel (30%)
• Sports (21%)
• Gaming (16%)

The survey further explored consumer attitudes and beliefs about the use of biometrics apps and services for onboarding; frictionless, safe payments; and privacy to power a world of digital trust.

Revolutionizing the customer experience – while grappling with lack of trust

Consumers are witnessing the powerful and transformative impact of digital authentication for logging in and onboarding, resulting in an unparalleled customer experience. The majority of respondents, 58%, agree that digital authentication methods improve the customer experience by simplifying the log-in and onboarding process. Fifty-seven percent of respondents would be more likely to re-engage with a brand that uses digital authentication methods on their website.

Despite successful innovations like self-check-in to hotels and streamlined payment processes,  a "passwordless world" remains elusive due to user concerns about privacy and security when it comes to trusting biometrics to protect their data. Nearly half (47%) of respondents cited not having to remember a password as the top benefit of using digital authentication/biometrics. However, of this segment, 38% do not trust passwords to protect their online payment processes.

Building trust in the online world through privacy-centric identity verification and authentication solutions

To fully embrace the revolutionary power of digital authentication, consumers need their concerns about privacy, fraud, speed, safety, and ease of use to be addressed. Although consumers see the transformative benefits of the digital landscape, many refuse to embrace the technology without proper trust assurances.

"The industry demands revolutionary and user-centric identity solutions that are reimagining the relationships between organizations and their customers across every vertical," Amper continued. "Companies owe it to consumers to provide secure, state-of-the-art digital authentication technology, that reifies trust in the online world."

View the report here: https://incode.com/blog/incodes-consumer-pulse-on-biometrics-report/

To learn more about how Incode is powering a world of trust, please visit: https://incode.com/

Methodology:
1,000 global consumers over the age of 25 were surveyed. Consumers represented individuals in English-speaking countries across North America, the UK, and Asia Pacific to understand consumer sentiment toward biometrics and digital authentication.

About Incode
Incode Technologies is revolutionizing the trust industry by transforming Identity Verification and Authentication across every major vertical. Incode serves the Financial Services, Gaming, Hospitality, Government and Entertainment sectors with the most accurate, flexible, and easy-to-integrate proprietary technology. Incode's fully automated AI-powered platform solves Onboarding (KYC, KYB, Age Verification), Passwordless Authentication, and Payment Verification (AML) to reduce fraud and increase conversion rates with the highest privacy and safety standards.

With over $220 million raised from investors such as General Atlantic, Softbank, and JP Morgan, Incode's "One Identity Everywhere" mission is rapidly gaining global adoption. Based in San Francisco, with offices and operations worldwide, Incode is partnering with the most innovative brands to reimagine trust.

Join the identity revolution at www.incode.com

Media Contact
Katherine Benfield
Lumina Communications for Incode
incode@luminapr.com

SOURCE Incode