EN Consumer preference drives shift in authentication In 2020 consumers were forced to change the way we live and were required to shift to digital channels for their payments and banking needs. This also meant a change in how financial institutions were expected to authenticate consumers’ identities. According to Javelin’s 2021 Identity Fraud Study: Shifting Angles, combined identity fraud losses reached $56 billion in 2020, with many of those losses attributable to poor authentication during new account opening. This study, authored by Javelin and sponsored by Mitek, explores shifting consumer preference in authentication methods and what financial services can do to both instill consumer confidence and maintain continuous authentication across the account and transaction life cycle. Topics discussed include: Biometric authentication Phasing out one-time passcodes Continuous user authentication across the customer lifecycle Adoption of layered, multi-factor authentication Reinforcing consumer trust Please tell us a little bit about yourself First Name Last Name Email Phone Company Title - Industry - ▾ - Location - ▾ I accept that Mitek may send me information or contact me. I prefer Mitek to not contact me. Stepping away from traditional passwords This report, sponsored by Mitek Systems, explores shifting consumer preference in authentication methods and what financial services can do to both instill consumer confidence and maintain continuous authentication across the account and transaction life cycle. The report is derived from the 2021 Identity Fraud Study: Shifting Angles, published by Javelin Strategy & Research in March 2021. Methodology: In October 2020, Javelin conducted a nationally representative online survey of 5,000 U.S. consumers to assess the impact of falling victim to fraud, uncover where fraudsters are making progress, explore consumers’ actions and behaviors, and identify segments of consumers most affected by fraud. Consumer preference drives change Download now San Diego Amsterdam London New York Paris Barcelona Copyright © 2021 Mitek Systems, Inc. Terms and Conditions | Privacy Policy | Admin By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Accept All Cookies Cookies Settings