The Entrust Cybersecurity Institute recently surveyed 1,450 people worldwide, with 400 from the Asia Pacific region to get insight into their views on passwordless authentication, hybrid identities, and ownership of personal identifiable information (PII). Results of the survey indicate that customers want more convenience when it comes to credentialing, with biometrics replacing passwords. Consumers are having trouble remembering their passwords, making them reset it frequently; thus showing the increasing demand for digital identity solutions despite limited awareness of them. Customers are willing to share their data in order to gain convenience, however, they are divided on whether organizations can be trusted when it comes to safeguarding such information.
Passwords Outrun Their Course
The survey results reveal that passwords are no longer the optimal means of validating identity, and customers want a simpler and more secure way to validate their identity. With the abundance of digital services, customers are struggling to keep track of their ever-expanding list of passwords. This makes remembering & saving credentials more difficult and time-consuming. According to survey results from the Asia Pacific region, 41% of respondents have to reset their password at least once a month due to not remembering it, and 10% do so on a weekly basis. Therefore, biometrics are expected to dethrone passwords, with three-quarters of respondents choosing biometrics half the time or more, and one-third choosing biometrics always when available.
Digital Identity Picking up Steam but Awareness Lags Behind
The market for digital identity is expected to reach $70.7 billion by 2027, but consumers are struggling to keep up. One-fifth of the respondents in Asia Pacific are not sure whether they have an electronic ID. However, most consumers are on board with the concept of digital identities, with seven out of ten respondents in Asia Pacific saying they would likely use a digital form of government-issued ID if it were available, primarily because of convenience.
Convenience and Control Drive Consumer Trust
According to the survey results, three-quarters of customers in the Asia Pacific region are willing to share their personal data if it means they can enjoy a more convenient experience. This demonstrates that most consumers recognize the importance of making this kind of trade-off. Yet, the survey has revealed that customers are divided in their opinion on whether they trust organizations with keeping and managing their digital identity. Furthermore, they are uncertain if those companies can truly protect their data securely.Delivering a hassle-free digital experience is a must for organizations that are dealing with PII. In addition, they need to equip their customers with data privacy controls in order to re-establish their trust.
Also Read: The Unlikely Success Story of Barbie: A Polarising Icon
The Entrust Cybersecurity Institute recently conducted a survey and the findings from the research report are ideal for IT and business professionals who strive to guarantee secure networks & optimization of their IT infrastructure. This is the first survey from the Institute’s insights division that provides updates, analysis, and commentaries on pertinent topics.According to the Institute, there is no one-size-fits-all approach for verifying customer, employee, or citizen identity. The authentication methods must be adjusted in correlation to the sensitivity of data accessed by users and the service being provided to customers or employees. Organizations must strike a balance between providing a smooth user experience and implementing safeguards to verify the identities of users. This way, both usability and security can be achieved.