www.forbes.com
Open in
urlscan Pro
151.101.66.49
Public Scan
URL:
https://www.forbes.com/sites/renehendrikse/2021/12/17/ive-got-99-passwords-but-i-only-need-one--thanks-to-my-voice/?sh=...
Submission: On April 16 via manual from IE — Scanned from GB
Submission: On April 16 via manual from IE — Scanned from GB
Form analysis 1 forms found in the DOM
<form class="search-modal__form"><input class="search-modal__input" type="text" placeholder="Search" autofocus=""><button class="search-modal__submit" role="button" tabindex="0" title="Submit"><svg class="fs-icon fs-icon--arrow-right"
xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20">
<path transform="rotate(-180 8.964 11)" d="M1 10h16v2H1z"></path>
<path transform="rotate(134.999 14.965 13.124)" d="M11 12.1h8v2h-8z"></path>
<path transform="rotate(-134.999 14.965 8.877)" d="M11 7.9h8v2h-8z"></path>
</svg></button></form>Text Content
Explore
* Billionaires
* All Billionaires
* World's Billionaires
* Forbes 400
* America's Richest Self-Made Women
* China's Richest
* India's Richest
* Indonesia's Richest
* Korea's Richest
* Thailand's Richest
* Japan's Richest
* Australia's Richest
* Taiwan's Richest
* Singapore's Richest
* Philippines' Richest
* Hong Kong's Richest
* Malaysia's Richest
* Money & Politics
* 2020 Money
* Innovation
* All Innovation
* 5G
* AI
* Big Data
* Cloud
* Cloud 100
* COP26
* Cognizant BrandVoice | Paid Program
* Consumer Tech
* Cybersecurity
* Enterprise Tech
* Future Of Work
* Games
* Google Cloud BrandVoice | Paid Program
* Healthcare
* Innovation Rules
* SAP BrandVoice | Paid Program
* Science
* ServiceNow BrandVoice | Paid Program
* Social Media
* Splunk BrandVoice | Paid Program
* Sustainability
* Venture Capital
* Wind River BrandVoice | Paid Program
* Leadership
* All Leadership
* Careers
* CEO Network
* CFO Network
* CHRO Network
* CIO Network
* CMO Network
* Crowe BrandVoice | Paid Program
* CxO
* Dell Technologies BrandVoice | Paid Program
* Deloitte BrandVoice | Paid Program
* Diversity, Equity & Inclusion
* Education
* Forbes EQ | Paid Program
* Forbes The Culture
* ForbesWomen
* Leadership Strategy
* Under 30
* Working Remote
* Over 50
* Money
* All Money
* Banking & Insurance
* Crypto & Blockchain
* ETFs & Mutual Funds
* Fintech
* Forbes Digital Assets
* Hedge Funds & Private Equity
* Investing
* Investing Basics | Q.ai
* Markets
* Personal Finance
* Premium Investing Newsletters
* Retirement
* Taxes
* Top Advisor | SHOOK
* Wealth Management
* Business
* All Business
* Aerospace & Defense
* Energy
* Food & Drink
* Hollywood & Entertainment
* Manufacturing
* Media
* Policy
* Retail
* SportsMoney
* Tableau BrandVoice | Paid Program
* Transportation
* Small Business
* All Small Business
* Entrepreneurs
* Franchises
* Small Business Strategy
* Lifestyle
* All Lifestyle
* Arts
* Boats & Planes
* Cars & Bikes
* Dining
* ForbesLife
* Forbes Travel Guide
* Spirits
* Style & Beauty
* Travel
* Vices
* Watches
* Real Estate
* All Real Estate
* Commercial Real Estate
* Forbes Global Properties
* Residential Real Estate
* Store
* All Store
* Vetted
* All Vetted
* Gear
* Health & Wellness
* Home & Kitchen
* Style
* Tech & Electronics
* Coupons
* All Coupons
* Purple
* Squarespace
* Verizon
* Lululemon
* AT&T
* Lowe's
* Brooks Brothers
* Tory Burch
* Dr Martens
* Dell
* Chewy
* Advisor
* All Advisor
* The Best Credit Cards Of 2022
* Best Balance Transfer Credit Cards
* Best Cash Back Credit Cards
* Best 0% APR Credit Cards
* Best Travel Credit Cards
* Best Business Credit Cards
* Today's Mortgage Rates
* Today's Refinance Rates
* Best Mortgage Lenders 2022
* Best Crypto Exchange 2022
* Best Life Insurance Companies
* Best Travel Insurance 2022
* Covid-19 Travel Insurance
* Car Insurance Companies
* Cheapest Car Insurance
* Pet Insurance
* Personal Loans
* Debt Consolidation Loans
* Student Loan Refinance
* Business Loans
* Forbes Advisor UK
* Forbes Health
* Wheels
* All Wheels
* Best Sedans
* Best Luxury SUVs
* Best SUVs
* Best Pickups
* Best Performance Cars
* Best Family Cars
* Best SUVs & Crossovers
* Best Electric Cars
* Best Sports Cars
* Used Cars For Sale Near Me
* New Cars For Sale Near Me
* Lists
* All Lists
* Video
* All Video
* Newsletters
* Crypto Confidential
* Editorial Newsletters
* Investing Digest
* Premium Investing Newsletters
* Forbes Magazine
* All Forbes Magazine
* Forbes Asia
* Free Issue of Forbes
* Latest
* Coronavirus Coverage
* Daily Cover Stories
* Dark Capital
* Editors' Picks
* Visual Web Stories
* Featured
* 4 Steps To Help Your Kids Build Smart Money Habits
* 5 Steps To Jump Start Savings Early In Your Career
* 30 Under 30 2022
* Best-In-State Wealth Advisors
* Buying A Car In A Red-Hot Market - Without Getting Burned
* DNA of Success
* Forbes Billionaires 2022: The Richest People In The World
* Forbes Leadership Lessons
* Kyndryl BrandVoice | Paid Program
* NTT DATA BrandVoice | Paid Program
* The Investment Guide: Your Life Your Priorities 2022
* The Leukemia & Lymphoma Society BrandVoice | Paid Program
* Advertise with Forbes
* Report a Security Issue
* Site Feedback
* Contact Us
* Careers at Forbes
* Tips
* Corrections
* Privacy
* Do Not Sell My Personal Information
* Terms
* AdChoices
* Reprints & Permissions
© 2022 Forbes Media LLC. All Rights Reserved
Subscribe
Sign In
BETA
This is a BETA experience. You may opt-out by clicking here
MORE FROM FORBES
Apr 14, 2022,10:01pm EDT
Will Jefferies Succeed In Bringing ESG Credibility To Wall Street?
Apr 14, 2022,05:32pm EDT
Why Jack Dorsey’s First-Tweet NFT Plummeted 99% In Value In A Year
Apr 14, 2022,01:00pm EDT
‘Jack Dorsey’s First Tweet’ $2.9 Million NFT Gets $277 Bid At Auction
Apr 14, 2022,03:00am EDT
Lucid Or Elusive Dreams: Generation Z To Alpha On Financial Freedom And NFTs &
Web3
Apr 10, 2022,07:00pm EDT
‘Breakout’: Apple’s Plan To Pump Up Apple Card And Apple Pay And Win The
Payments War
Apr 7, 2022,05:45pm EDT
Remember Card Fraud?
Apr 7, 2022,09:15am EDT
Putting The “Green” Back Into Greenbacks With Climate Fintech.
Edit Story
Fintech
I’VE GOT 99 PASSWORDS BUT I ONLY NEED ONE – THANKS TO MY VOICE
Rene Hendrikse
Former Contributor
Opinions expressed by Forbes Contributors are their own.
I cover the impact of identity on banking, fintech and the economy
Dec 17, 2021,10:17am EST|
* Share to Facebook
* Share to Twitter
* Share to Linkedin
Are you using the same password for every online account?
Maybe not – after all, consumers have been hearing this message for years, and
diligently creating new passwords in response. The real question should be:
Can you easily remember which password matches with which website, app, and
account?
Probably not. Thanks to the pandemic, we now have a huge number of online
accounts and an average of a hundred passwords, each one our key to
participation in modern society: connecting with friends, banking online, doing
your weekly food shop, and so on.
We can’t stop using these socioeconomic tools, but we also value our security –
so, we keep generating password after password. The more passwords, the more
wrong attempts, the more getting locked out of these essential apps. It’s a
losing game for consumers.
Plus, after all that, fraud is still on the rise! The more passwords, the more
there is to steal. While we’re getting slower access to vital services,
fraudsters are getting their hands on our details faster.
Consumers must suffer no longer. We won’t reduce our online engagement, not in
2021. The answer? It’s passwords that need fixing.
(Photo by Leon Neal/Getty Images)
Getty Images
MORE FROMFORBES ADVISOR
BEST TRAVEL INSURANCE COMPANIES
By
Amy Danise
Editor
BEST COVID-19 TRAVEL INSURANCE PLANS
By
Amy Danise
Editor
Consumer confidence in passwords is dropping
Research shows that organisations and consumers are trying hard to implement the
current password advice.
Technological solutions like password managers are seeing strong uptake. We’re
using the complex passwords that websites generate for us. There are even
campaigns to allow us to copy passwords within sites to streamline user
experiences. Fraud, however, is not reducing. More than £4 million was stolen
from UK citizens by fraudsters every single day last year, a huge increase on
2019.
PLAY Forbes Money Video Settings Full Screen About Connatix V158870 Read More
Read More Read More Read More Read More Read More Can Emmanuel Macron Beat
MarineLe Pen? 1/1 Skip Ad Continue watching after the ad Visit Advertiser
websiteGO TO PAGE
When consumers are punished either by continued hacking, having to wrack their
brains for the password, or being locked out of their accounts after too many
wrong attempts, they lose confidence. This jeopardises a burgeoning
post-pandemic economy. Now, more than ever, businesses need our commerce.
Innovation in helping humans remember passwords is misplaced. We need a fresh
start for consumer security that works with, not against, natural human ability.
But what’s next?
When we want access, why not simply ask for it?
Devices like Alexa and Google Home are revolutionising consumer tech today.
Statistics show that half of UK citizens already have a voice assistant. Their
seamless integration into the way we live our lives points clearly to the fact
that voice technology has that instantaneous quality we’re seeking.
When we want to know the weather, we ask our smart assistants. When we want a
reminder of our to-do lists, we ask our phones. Today, when you want help, you
ask.
The same should go for access to our apps and accounts. When we want access, all
we should be doing is asking for it. Plain and simple – nothing to remember,
nothing to copy and paste.
Voice technologies can grant us access to our online accounts in two ways: once
a person enrolls with their voice, a template is created. Then, they can
authenticate in just two steps: first, the system matches their voice with the
biometric template to verify identity, and second, it determines the liveness of
the voice. This ensures the person asking for access is really there behind the
screen, rather than a voice recording.
In combination with face technology, which we’re increasingly seeing in a vast
array of consumer-friendly, speedy, and secure use-cases, voice creates a
powerful security seal upon the account that’s one hundred times stronger than
face alone, according to data from ID R&D, a Mitek company.
All organisations that require consumers to log into online accounts should
strongly consider adapting their apps to use these advanced technologies.
Through this, they can achieve security that is highly intuitive and simpler for
the customer, whilst also being far stronger in the face of fraudsters. However,
to get consumers on board, they will have to prove the value of voice.
Voice technology
getty
Businesses must deliver on the customer experience
Unlike a random string of letters and numbers, our voices are precious to us.
The opportunities brought about by faster and more secure voice authentication
are numerous, but organisations will only benefit from them if they can prove
that sharing this personal information brings value to people.
Critically, it’s our phones and smart devices that store the biometric
information – not the bank or retail app. This means organisations can’t look at
the voice data and interpret it to understand who the customer is, regarding
their age, gender, or ethnicity, for instance. For banks and app providers to
truly get closer to their customers, they will need to make themselves more
access-friendly, by allowing voice authentication to users of Apple, Android or
other operating systems. Once the customer is into the app, they can be rewarded
for using the smarter and stress-free voice option.
It’s an investment for organisations, but the benefits in consumer loyalty are
worth having. Research from Javelin, conducted for Mitek, shows that consumer
preference is pushing organisations to embrace automation. The majority of
customers consider biometric solutions to be the most effective way to validate
identity; an average of 64% across the surveyed biometric types. On the other
hand, password approval has plummeted another 10% over the last year.
The price for failing to implement voice authentication isn’t just that
customers will become increasingly weary of passwords and turn away from sites
that require them. Fraudsters are stealing passwords at every opportunity.
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.
Organisations must get biometrics right first time to avoid compromising
customer data. Mitek and Javelin estimate that, in 2023, 60% of midsize and 40%
of large and global enterprises’ biometric authentication initiatives will
experience failure or be compromised, due to incomplete assessment and
mitigation of risks. The work starts now to ensure your company isn’t one of
those.
Start now to reap the benefits of voice technology
To implement the future of biometrics successfully, organisations should start
assessing the benefits of voice technology now by consulting customers. This
way, they can take the first steps towards a cleaner, simpler, safer
authentication process for their customers, to ensure a perfect, end-to-end
customer experience.
Rene Hendrikse
I head Mitek's business in EMEA. During my 20-year career, I have worked for
global technology companies such as IBM and Verizon. In this time, I have seen
the
... Read More
* Editorial Standards
* Print
* Reprints & Permissions
Tarek Mansour On Developing Company Values
Cookies on Forbes
YOUR CHOICES REGARDING COOKIES ON THIS SITE
Please choose whether this site may use cookies or related technologies such as
web beacons, pixel tags, and Flash objects ("Cookies") as described below. You
can learn more about how this site uses cookies and related technologies by
reading our privacy policy linked to below. Your choices on this site will be
applied globally. This means that your settings will be available on other sites
that set your choices globally. You can change your mind and revisit your
preferences at any time by accessing the "Cookie on Forbes" button on the left
side of this site.
While we need to use required cookies to make our site work, we won't set
optional cookies unless you enable them.
WE AND OUR PARTNERS
We and our partners: process personal data such as IP Address, Unique ID,
browsing data for: Store and/or access information on a device | Personalised
ads, ad measurement, and audience insights | Personalised content, and content
measurement | Develop and improve products | Use precise geolocation data |
Actively scan device characteristics for identification.
Accept All Choose Cookies
Privacy Statement
Powered by: