A little over a year ago, as most of us across the globe entered an unprecedented lockdown period, both consumers and businesses alike realized what a crucial part of our lives the Internet has become. As platforms and online retailers welcomed the added boon to sales and revenue, many more companies, public services, and even public authorities struggled to compensate for the lack of online and mobile offers. And customers were quick to note which companies and services they could turn to for a reliable, convenient, and seamless user experience.
One year later, consumers have gotten ever savvier when it comes to online shopping, banking, entertainment, and more. And they have also become more demanding. Customer retention no longer hinges on a great product and an affordable price point. Studies have clearly indicated that consumers primarily base their purchasing decisions on their customer experience.
The Login Dilemma
Along with ease and speed, the Internet has gifted us with variety. There are countless products and services to choose from when location no longer plays a role. So how can businesses differentiate their offers from the competition and attract and retain customers? The login process is a great place to start.
Does this sound like a familiar experience? While travelling for work (or pleasure!), you spend a few nights in a hotel. At the end of a long day, you look forward to unwinding in your room. When you switch on the television, you realize that it has Netflix pre-installed. What luck! Instead of catching up on the newest episodes of your favorite series on your tiny laptop or mobile phone screen, you can lay back on the bed and watch it on the big screen TV. There’s just one thing standing between you and a night of entertainment — your extra-long, super-secure password, which you now have to enter using a remote control. As you slowly click the left-right-up-down arrows on the remote, you find yourself very aware that there’s much room for improvement when it comes to this user experience. And this is the best-case scenario. What do you do if you’ve forgotten your password?
As hackers get more intelligent and the data we share with businesses and service providers becomes more sensitive, the need for more complex and uncrackable security solutions becomes imperative. However, many businesses choose to place this burden on users by requiring long and complex passwords to register and log in. What happens as a result? Users...
- Forget their passwords and have to create new ones.
- Write down their login credentials, and then they fall into the wrong hands.
- Reuse the same login credentials across several services and platforms.
Each scenario creates either an added hassle for users or increased risk for both users and businesses. How can companies resolve this dilemma and simultaneously attract more customers?
The Passwordless and Biometric Solution
There’s a good chance that you’ve already experienced the perfect solution, especially if you use mobile banking. Thanks to built-in biometric sensors on newer mobile devices, it is easy to provide access based on passwordless verification. Account-holders can open their banking app, look into their mobile device screen or place their finger on the biometric sensor and authenticate themselves. By integrating this state-of-the-art security solution into their mobile apps, financial institutions eliminate the need for usernames and passwords. And they simultaneously make access much easier. Anytime and anywhere.
This past year has given significant impetus to the digital transformation as more traditional and analog businesses have scrambled to digitize and remain accessible to their customers. Offering your products and services online is no longer enough. Now it’s time to make sure there are no obstacles standing in between you and your customers. Don’t let security be a deterrent to choosing your business. Instead, make sure your safe, convenient, and user-friendly solution is the reason consumers flock to you!