80% of fintech execs worry about authentication security tools

According to an industry survey conducted by biometric authentication provider authID.ai in partnership with Market Measurement, 80% of fintech decision-makers harbor moderate to high levels of concern about the risks associated with legacy identity authentication options. Three-quarters of the executives also expressed at least a moderate degree of concern about potential customer dissatisfaction with one-time passwords (OTP) and knowledge-based authentication (KBA) questions.

Legacy IT security tools possess vulnerabilities capable of being exploited, including seizure of SMS pin codes by cyber criminals or fraudulent account takeovers using easy-to-guess security prompts.

Despite executives’ concerns of these tools, fewer than a quarter (22%) of respondents are currently using an alternative system, such as facial biometric identity authentication. However, of significance, the majority of respondents (70%) are likely to consider switching to that alternative in the next year. In fact, over the next 12 months, 75% of respondents said they plan to increase their investment in IT security, including identity authentication.

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Mots-clés : cybersécurité, sécurité informatique, protection des données, menaces cybernétiques, veille cyber, analyse de vulnérabilités, sécurité des réseaux, cyberattaques, conformité RGPD, NIS2, DORA, PCIDSS, DEVSECOPS, eSANTE, intelligence artificielle, IA en cybersécurité, apprentissage automatique, deep learning, algorithmes de sécurité, détection des anomalies, systèmes intelligents, automatisation de la sécurité, IA pour la prévention des cyberattaques.