VinCSS has released an industry first report on the authentication experience in apps for Vietnamese banks, and it shows a “strong shift from traditional to modern authentication methods” in the country’s banking ecosystem.
Biometrics rank as the most commonly used authentication methods for high risk transactions. It’s also rated as the most convenient, with 58.3 respondents listing it as such.
As usual, there are corresponding concerns about data privacy. One in three people worry their biometric data or digital credentials could be stolen or faked, leading to identity fraud. One in Authentication data theft is a top fear. “Many users feel that biometric authentication, though widely implemented, still is not secure enough for them or their digital assets.”
