Outdated online security is losing banks business
New research from biometric authentication company iProov highlights that many US banks are falling short in delivering digital convenience to their customers.
The study looks at the range and usability of online services being offered to existing customers. Researchers looked at 39 data points, including how easy it was for a customer to move money, request a new debit card or change personal details online.
It finds banks are often making it hard for existing customers to access new products. 30 percent asked the researchers to complete an application process for an additional account completely from scratch, rather than using secure authentication to streamline the process.