It’s World Password Day and we decided to mark the occasion by sharing some password stats from a recent consumer survey that we carried out in the US and UK. The full report will be released in mid-May but a few findings stood out:
The average US consumer abandons 16 online purchases a year due to password frustration
This is a staggering number. It means that almost every three weeks, every American citizen is abandoning a purchase online because they forget their password and the process for retrieving it takes too long. And it's a similar story in the UK, with 15 online purchases a year being left at the checkout by the average consumer.
This results in two key problems. Firstly, it means enormous frustration for the customer. Imagine the steps involved: a customer spends valuable time deciding what to buy. They make the decision to purchase and are faced with a request to Register or Login. Have I bought something on this website before? I’m sure I have. Several attempts at remembering their login details later, the customer becomes extremely frustrated and requests a password reminder. This either doesn’t arrive quickly enough or goes into spam. Purchase abandoned.
The Financial Conduct Authority (FCA) in the UK has extended the deadline for implementation of strong customer authentication rules by six months. The deadline is now 14 September 2021.
Other regulators across Europe are expected to make similar moves.
From 14 September 2021, financial institutions must ensure that customers are completing strong customer authentication (SCA) before they carry out online processes, as set out in the EU Revised Directive on Payment Services (PSD2).
These processes include:
By Andrew Bud, Founder and CEO of iProov
iProov is currently providing biometric authentication services free of charge to start-ups that are working on solutions to assist the COVID-19 crisis.
A number of projects are already underway, using our Genuine Presence Assurance technology to great effect.
One area where we’re seeing a lot of focus is safeguarding.
There has been a tremendous surge of kindness, generosity and community spirit around the world, as people offer their time and resources to help others in need.
But criminal behaviour is never far behind. You only need to take a quick glance at the news to find examples, such as this 92 year-old woman robbed by thieves who persuaded her that her neighbour had the virus.
Safeguarding allows genuine offers of help to be encouraged and utilised, by putting processes and systems in place to protect the vulnerable.
We’re very pleased to announce that iProov is bringing Genuine Presence Assurance to the web browser, with the launch of iProov Web.
Since 2018, over 3 million people have used iProov’s patented Flashmark technology in mobile apps to confirm their genuine presence. The world’s most security-conscious organizations, including the US Department of Homeland Security, the UK Home Office, Standard Bank in South Africa, and ING in the Netherlands, are using iProov technology in large-scale applications.
iProov Web now extends effortless genuine presence assurance to web browsers, allowing users to securely “iProov” themselves on their laptop and desktop computers, tablets, kiosks, and other devices. Watch the 12 minute webcast.
iProov works in partnership with a number of technology companies around the world. WorldReach Software, based in Canada, is a world leader in government travel and citizen services. We asked Jon Payne, Executive Director, Global Partnerships at WorldReach, to tell us about their work and why they chose iProov for genuine presence assurance.
WorldReach is expert in government travel and citizen services. How has your business evolved since it was originally set up?
WorldReach was founded in 1998 after a five-year software development partnership with Canada's foreign ministry. As our international government client list grew, we quickly gained a reputation as a highly trusted government partner and advisor specialising in consular assistance including crises, and passport issuance solutions. This was our primary focus, until about five years ago.
In recent years, we chose to apply our expertise to create a new process for remote Identity and Document Verification (IDV), recognising the combination of the growth of smartphones as a mobile platform and the steadily increasing proportion of ePassports. In effect, turning the smartphone into an ePassport reader and allowing the owner to verify their identity in much the same way as an e-Gate or e-Kiosk in an airport does it, using facial biometrics.