Aware's 2024 Consumer Trust in Biometrics Report Reveals Growing Adoption and Trust in Biometric Authentication

New Consumer Report from Aware Reveals Widespread Trust in Biometrics By Investing.com

BURLINGTON, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Consumers are increasingly adopting biometrics as this technology becomes more integrated into everyday devices like smartphones and laptops. More than 50 percent of all users now authenticate with biometrics daily, signaling a clear path toward mass adoption. However, consumers have a keen awareness of the sensitivity of their biometric data and are looking to use biometrics with providers who have clear policies around data management. These trends are among the key findings from Aware's newly released '2024 Consumer Trust in Biometrics Report,' which reveals important insights into consumers' perceptions and usage of biometric authentication. Aware's team conducted a diverse survey of U.S. consumers with questions aimed at uncovering their perceptions, knowledge, usage and concerns about biometric authentication. The results: an in-depth understanding of consumer sentiment and experiences surrounding biometric authentication usage. An overwhelming majority of respondents agree that biometric technology will become more prevalent over the next five years. This isn't altogether surprising, given that consumers generally recognize biometrics' superiority to passwords in the areas of security, convenience, and speed of access, says Heidi Hunter, Chief Product Officer, Aware. However, what's remarkable is that a large percentage of respondents stated they are more willing to trust some organizations than others, based on a demonstrated ability to responsibly collect and manage biometric data. Clearly, the desire for convenience and speed is winning out, because the rise in use cases is expanding. But we think there's a huge opportunity for brands to build on the benefits of offering biometrics by clearly communicating with consumers, addressing their concerns about data usage and offering alternative authentication options. Other key findings from the survey include: Companies are looking for ways to drive brand loyalty by delivering great user experiences combined with the utmost in security. Biometric authentication can be the answer, and if they're hesitating because they're unsure if it will be accepted, that should not be a concern, concludes Hunter. Our survey clearly demonstrates that consumers are very comfortable with biometrics, and companies can reap further customer loyalty benefits if they work with the right partners and position themselves as excellent stewards of biometric data. For more information on the survey, visit here. About Aware Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we've been a trusted name in the field. Aware's offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company (NASDAQ: AWRE) based in Burlington (NYSE:BURL), Massachusetts. To learn more, visit our website or follow us on LinkedIn and X. Safe Harbor Warning Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that i) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; ii) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; iii) we face intense competition from other biometrics solution providers; iv) our business is subject to rapid technological change; v) our software products may have errors, defects or bugs which could harm our business; and vi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2023 and other reports and filings made with the Securities and Exchange Commission.

New Consumer Report from Aware Reveals Widespread Trust in Biometrics - Aware (NASDAQ:AWRE)

BURLINGTON, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Consumers are increasingly adopting biometrics as this technology becomes more integrated into everyday devices like smartphones and laptops. More than 50 percent of all users now authenticate with biometrics daily, signaling a clear path toward mass adoption. However, consumers have a keen awareness of the sensitivity of their biometric data and are looking to use biometrics with providers who have clear policies around data management. These trends are among the key findings from Aware's newly released '2024 Consumer Trust in Biometrics Report,' which reveals important insights into consumers' perceptions and usage of biometric authentication. Aware's team conducted a diverse survey of U.S. consumers with questions aimed at uncovering their perceptions, knowledge, usage and concerns about biometric authentication. The results: an in-depth understanding of consumer sentiment and experiences surrounding biometric authentication usage. "An overwhelming majority of respondents agree that biometric technology will become more prevalent over the next five years. This isn't altogether surprising, given that consumers generally recognize biometrics' superiority to passwords in the areas of security, convenience, and speed of access," says Heidi Hunter, Chief Product Officer, Aware. "However, what's remarkable is that a large percentage of respondents stated they are more willing to trust some organizations than others, based on a demonstrated ability to responsibly collect and manage biometric data. Clearly, the desire for convenience and speed is winning out, because the rise in use cases is expanding. But we think there's a huge opportunity for brands to build on the benefits of offering biometrics by clearly communicating with consumers, addressing their concerns about data usage and offering alternative authentication options." Other key findings from the survey include: Consumers are more comfortable with biometrics than you think: over half of those polled indicated they use biometric authentication technology regularly; nearly 50 percent state they use biometric authentication "often" or "always" to access mobile apps.Security and convenience are the two main reasons for using biometric authentication, and they tend to hold more clout than trust concerns - 62 percent of respondents noted they have never refrained from using the technology as a result of trust issues.Still, significant concerns linger, especially when it comes to data breaches and trust in supporting technologies. An overwhelming majority of respondents felt neutral or uninformed about how their biometric data is used and stored by companies.While over 50 percent of respondents are either very comfortable or comfortable with using biometric technology in public places like airports and stadiums, over 40 percent are still either neutral, uncomfortable, or very uncomfortable with this idea.For more than one half of respondents, transparent communications from companies about biometric data use would change their trust in biometrics. In addition, 60 percent of all respondents stated that offering opt-out alternatives and user-controlled privacy settings would increase their trust in biometric technologies.Across industries, trust is lowest in the online gambling sector and highest in banking; also trust in biometrics is higher among Gen Z and lower across older generations including Millennials, Gen X and Baby Boomers. "Companies are looking for ways to drive brand loyalty by delivering great user experiences combined with the utmost in security. Biometric authentication can be the answer, and if they're hesitating because they're unsure if it will be accepted, that should not be a concern," concludes Hunter. "Our survey clearly demonstrates that consumers are very comfortable with biometrics, and companies can reap further customer loyalty benefits if they work with the right partners and position themselves as excellent stewards of biometric data." For more information on the survey, visit here. About Aware Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we've been a trusted name in the field. Aware's offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company AWRE based in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X. Safe Harbor Warning Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that i) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; ii) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; iii) we face intense competition from other biometrics solution providers; iv) our business is subject to rapid technological change; v) our software products may have errors, defects or bugs which could harm our business; and vi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2023 and other reports and filings made with the Securities and Exchange Commission. CONTACT Company Contact Delaney Gembis Aware, Inc. 781-687-0393 [email protected] Market News and Data brought to you by Benzinga APIs