30 years ago, a person would’ve never dreamed that they would need to remember multiple passwords to log into different accounts on the internet. Yet, everybody is now familiar with entering a password when they want to log in to their social media, banking and entertainment accounts online.
Cybersecurity and the continued threat from hackers means that passwords may not be enough to keep accounts safe. While a person’s password is only as good as its strength, new technologies are emerging that will bolster or take the place of the username/password option that is currently used on the majority of sites.
Some companies have been introducing new technologies to help consumers stay safe. Apple has implemented facial recognition and fingerprint technology, which eliminated the need for typing in a four digit code.
Hesitancy For Change
While a person would think that many companies would get on the bandwagon for making changes for their customers, many businesses are still hesitant in changing the status quo.
It’s interesting that when a study was conducted that gave consumers a choice when logging into a site in the gift idea generation space. 70 percent of the individuals chose to not use the username/password option. Instead of using the traditional combination of username/password, they chose a password-less multi-factor authentication option.
Results Reveal A Preference By Consumers
The results of the study showed that individuals who chose the username/password option had a login success rate of 56 percent. When compared to the 99 percent success rate for individuals who chose the other option, it shows that using the new method produced better results.
A second study run by IBM showed that while individuals do rank security as a high priority, less than 33 percent would implement passwordless multifactor authentication after data has been breached, which was disappointing
However, it also showed that they are willing to try new methods. Over 50 percent were willing to at least try the new option when it was presented to them.
Passwords In The Future
From these two studies, it’s clear that consumers are willing to adapt to change. Large and small organizations will have to decide when they are going to eliminate the username/password option and provide more stealth with options that don’t require the use of a password.