Fingerprint in mobile banking ― gimmick or new standard?

Biometrics is something Polish banks use increasingly often. Some of them already allow their customers to logon to the mobile app and to confirm payments with a fingerprint. Also such technologies are appearing as voice biometrics, face recognition, hand geometry or iris recognition. 

― Biometrics is setting the course for development of mobile apps and payments, both from the point of view of technology as well as security. Beyond any doubt this technology will make electronic payments even more convenient and safe, which will strongly contribute to their popularity ― Ricardo Campos, Director of the Electronic Banking Department on Bank Millennium said. ― A recent breakthrough came with Bank Millennium introducing the possibility of confirming 3D Secure payments with a fingerprint. The option to confirm such transactions with a fingerprint is the first such solution on the market ― he added.

According to the “Millennium Generation in the World of Finance and New Technologies, Against the Backdrop of Generation X and Z” survey, the innovative solutions are of particular interest to the youngest customers of banks. Logging on to m-banking with a fingerprint is most popular among the youngest respondents (aged 16-19) and stands at a very high 50%. 38% of persons polled would opt for biometric logon if only given the opportunity. Meanwhile the Millennials – i.e. persons aged 20-32 – would rather logon to mobile banking in the standard manner (this is what close to 60% said), with biometrics preferred by approx. 40%.  

The full text of the “Millennium generation in the world of finance and new technologies against the backdrop of generations X and Z” is in Bank Millennium’s Press Centre: https://www.bankmillennium.pl/about-the-bank/press-centre