UX is king
The use of biometric technology has expanded significantly in both the public and private sectors.
This is hardly surprising considering that biometrics are more effective and reliable at uniquely verifying identities than knowledge-based verification systems (e.g., a password or pin code) or token-based systems (e.g., an ID card or license). Unlike the latter two, biometric characteristics are not easily duplicated, shared, or lost. Your biometric characteristics are unique to you, and, configured correctly, allow for fast and secure authentication.
But this is not always the case. An inefficient solution with a poorly designed customer onboarding experience could be slow and frustrating, leading to a loss in conversion rates and an increased security risk, which harms the company’s reputation, compliance rating, and bottom line. At a time when digital onboarding is virtually universally employed in every sector, competition is fierce and the slightest friction could lead a user to abandon the onboarding process and move to a competitor.
And users are indeed becoming less ‘friction tolerant’. According to a recent report on the European banking sector, the average onboarding drop-off rate jumped in the span of just one year from 38% in 2019 to 63% in 2020. Failing to successfully onboard clients costs financial services institutes over €5bn annually.
Privacy and ethical concerns
In addition to a frictionless user experience, institutions must ensure the use of biometric tech conforms to the public’s privacy and ethical concerns. With good reason, people are increasingly worried that:
- biometrics recorded for explicit authentication purposes might be used for unrelated secondary purposes
- biometrics are gathered without consent or knowledge
- biometric characteristics reveal sensitive secondary information beyond what they were collected for
- biometric technology exacerbates existing discriminatory practices, contributing to social exclusion
Privacy-by-design meets seamless UX
Our fully customisable and automated biometric solutions offer the ultimate user experience. In addition to passive liveness checks, which uniquely ensure a hassle-free experience, its UX and UI consultancy delivers superior value tailored to business needs.
At the same time, our solutions are ethical-by-design and purely consent-based when gathering data. To ensure users are aware of all implications and eventualities, our technology gives users the option to decide whether or not to use their biometric data.
Finally, at FacePhi we protect users’ data in the most secure way, ensuring data compliance at the highest level. Biometric patterns are tokenised, secured with proprietary and advanced AES 256 encryption standards and transferred directly to your data storage environment.
Learn how you can incorporate a superior customer experience and privacy with biometric-based digital onboarding and verification processes, get in touch today.