Zurich, 22 September 2021 – Internet users are afraid that their data may fall into the wrong hands, as a representative study conducted for the Nevis Security Barometer 2021 shows. Around 95 percent of those surveyed indicated that they are concerned about the security of their personal data; for 31 percent, their use of mobile devices is the main cause of concern. This is because many activities today – from online banking to shopping to finding a date – can be handled simply and conveniently on a smartphone or tablet. Some online service providers, however, still neglect security. Outdated password procedures are not only a gateway for cybercriminals; laboriously typing in passwords or waiting for an mTAN tries users’ patience and in the worst case can even cause them to abandon their shopping carts or turn to competing providers. The answer is cloud-based solutions for passwordless authentication that combine multiple benefits.
1. Passwordless login in seconds
Today’s passwordless logins work with a smartphone app and use multi-factor authentication to verify access authorisation to the desired account through several independent factors. These include biometric methods such as fingerprint or facial recognition as well as context-based recognition via device ID or geolocation. Another method, which is already well established, is behaviour-based recognition. It analyses aspects such as user-specific typing behaviour or gestures on mobile devices. For users, the process is very simple: they enter their user name on the registration page, click on the registration button and receive a push notification on their smartphone. Then they can authenticate themselves using the biometric method they have chosen; the access app confirms their identity and logs them in automatically.
2. Convenience boosts customer loyalty
Authentication using biometric features saves users time and aggravation. That is because the frustration of forgotten passwords does not arise in the first place. In addition to this key technical aspect, brand perception also plays a vital role in customer loyalty. A brand is usually built up over years and aims to generate positive emotions in customers in order to achieve customer loyalty on the one hand and differentiation from the competition on the other. That is why today’s access apps can be adapted to match the company’s visual language in terms of colour, font, formatting, background image, icon and logo. This consistent look inspires confidence and gives users the reassurance they need that their data and account are in safe hands.
3. Higher operating efficiency, lower costs
Investing in anti-fraud technologies such as passwordless authentication reduces the number of illegitimate transactions as well as the number of false alarms that can block or delay financial transactions. That saves time, costs and hassle both on the customer side and on the company side. It also increases operational efficiency considerably by cutting down on the time employees spend dealing with actual or supposed fraud. Last but not least, it does away with costly transaction fees such as those involved in mTAN authentication.
Nevis develops security solutions for the digital world of tomorrow. Its portfolio encompasses passwordless logins, which are intuitive to use and offer optimal protection for user data. Nevis is the market leader for Identity and Access Management in Switzerland and secures over 80 percent of all online banking transactions. Public authorities, leading service providers, and industrial enterprises worldwide rely on Nevis solutions. The authentication specialist has locations in Switzerland, Germany, and Hungary.
LEWIS Communications GmbH
Ingo Geisler, email@example.com