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A Javelin Strategy & Research survey shows consumers’ preferred method of online authentication is challenge questions. Another method requiring little behavior change – computing device recognition – ranks number two.
Banks’ understanding of online consumers’ attitudes about fraud control and prevention provide a window for online merchants on bank card-using users’ preferences in terms of online identity authentication overall. A new survey of online banking consumers by Javelin Strategy & Research shows that more than half of those polled preferred challenge questions over other online authentication measures. More than one-third selected computer/device recognition among their top choices.
“Consumers react well to non-intrusive authentication methods that don’t require them to carry a token or plug a device into their PC,” says Bruce Cundiff, research analyst at Javelin.
The survey report further notes that consumers` preferred authentication solutions represent a balance between usability and security. The top selections, challenge questions and computing device recognition – are simple solutions that require little education or change in behavior, the report notes, adding that consumers “must be able to easily comprehend and employ any solution if it is to be widely adopted.”