In our digital world, we have multiple devices and accounts to our name. This increases the risk of breaches and gives malicious actors access to sensitive information and account credentials. Biometric authentication revolutionizes how we verify ourselves when opening any secure account or device.
This guide uncovers the benefits of biometric authentication and how it can help protect your business.
What Is Biometric Authentication?
Think of how you must verify your identity when logging into any account. These mostly include:
- Answering security questions
- Entering passwords and PINs
- Confirming identity with a one-time verification passcode
These outdated measures leave you susceptible to security breaches since the information is only sometimes iron-clad. Biometric authentication offers a much more secure way of logging in since it verifies users through unique physical characteristics. Using facial or fingerprint recognition is a highly secure method of ensuring only the rightful user can access an account.
Behavioral biometric authentication adds another layer of security. Devices can identify key characteristics that match someone using knowledge based on their activity, such as swiping or scrolling patterns.
Benefits of Biometric Authentication for Businesses
Why are experts recommending this technology for business leaders? Adjusting authentication measures can have a tremendous impact on how businesses operate as well as their reputation. Take a look at some of the biggest benefits biometric authentication offers below.
Reduced Cyber Threat Risk
By doing away with vulnerable passwords and security question answers, your company can minimize the threat of security breaches. Threat actors will have a harder time trying to infiltrate accounts within your network if you utilize unique physical features as the primary form of user verification. Safeguarding accounts with either fingerprint matching or facial recognition scans makes you less prone to experiencing identity theft, ransomware, and other threats.
Improved Customer Loyalty
Say you operate a major financial institution and have many customers moving their funds elsewhere due to security concerns regarding your mobile banking app. By implementing biometric authentication to your mobile app, customers now have a safe and efficient way to access and monitor their accounts.
This is a great way to instill a customer’s confidence in your brand and increase loyalty. Satisfied customers are a boon to your business, allowing you to expand outreach and operations whenever they recommend others to use your services.
Money Savings
Having a large, loyal customer base that recommends your business to others means you can save on customer acquisition costs. In addition, the lower risk of cyber threats gives you a chance to cut back on expensive cybersecurity programs and software. Just by adding biometric technology, your business can see savings stack up.
Boost Your Business Security With Biometric Technology
With so many benefits of biometric authentication, why not take advantage of this technology within your business? You can easily reduce the risk of device hacking with one-of-a-kind biometric identifiers. Consider implementing this technology into your daily life to make sure that only sanctioned users can log in to important devices and accounts.