According to a recent consumer survey, a vast majority of U.S. consumers trust in the convenience and security benefits of fingerprint authentication, especially as it relates to online banking, PC security and electronic commerce (e-commerce) applications. The survey indicates that a clear majority (77%) is ready to begin using fingerprint sensors as part of their part of their day-to-day activities, signaling the strong growth potential for broad consumer adoption.
The independent survey of U.S. consumers, sponsored by leading fingerprint sensor and solutions provider AuthenTec (NASDAQ:AUTH), shows two-thirds (66%) of consumers trust fingerprint biometrics as a means of authentication more than traditional PINs or passwords while 68% perceive the use of a fingerprint sensor to be more convenient.
Surprisingly, a similar majority (67%) claimed to have little or no knowledge of mainstream consumer electronic devices such as PCs and cell phones that feature a fingerprint sensor, despite their widespread availability. According to the survey results, 43 percent of respondents believe that less than one million fingerprint sensors are in use today. In fact, AuthenTec recently celebrated the shipment of its 25 millionth fingerprint sensor to the global marketplace in November, 2007.
“The survey reveals the chasm between strong end-user acceptance for fingerprint sensor-enabled devices and yet the low level of awareness of the widespread availability of products that feature our fingerprint sensors,” said AuthenTec Chairman & CEO Scott Moody. “This feedback is a reminder to the industry and consumer electronics manufacturers that there is a receptive buyer eager to enjoy the convenient security of fingerprint sensors.”
Correlation: Adoption and Online Comfort Level
According to the survey, the more often an individual conducts online banking and e-commerce, the more likely that person is to perceive the value of using fingerprint sensors and to consider more online activity. Two-thirds of survey respondents see the advantages of fingerprint sensors and their associated benefits for online banking and e-commerce, and would use the technology today to authorize payments and transactions online. As well, information security concerns among respondents also increased with more online activity.
Online Banking Rated as Most Desirable Application
When asked to rate their most desired application, online banking was the clear winner with information security second.
75% of respondents said they use online banking services and 78% of those respondents said that, if available, they would use a fingerprint sensor to make online banking transactions more convenient and secure.
More than one third of those who do NOT use online banking would be more inclined to do so if a fingerprint sensor was part of the experience.
Consumers Think Creatively About Biometrics Applications
The broad consumer openness to using fingerprint-enabled devices revealed in the survey mirrors the enthusiasm and creative thinking on the part of hundreds of consumers who recently participated in the international Big Ideas contest sponsored by AuthenTec. 25 winning ideas, including the Grand Prize winning idea – a lockable diary that can only be opened by its owner – were selected by a panel of technology enthusiasts.
Because of the low cost and small size of AuthenTec’s sensors, many of the contest ideas for fingerprint sensor uses are already being implemented today – from fingerprint sensor-enabled PCs to uses in cell phones, GPS navigation devices, door locks and a host of other consumer and business applications.
AuthenTec’s fingerprint sensors are based on the Company’s patented TruePrint® technology which reads below the surface of the skin to the live layer where the true fingerprint resides. The sensors bring Power of Touch® features including security, convenience, personalization and navigation to over 17 million PCs and more than 8 million cell phones worldwide.
About the Survey
The survey, conducted in December, 2007 by independent online service Zoomerang, sampled U.S. men and women between the ages of 21-55. AuthenTec sponsored the survey as part of its ongoing effort to track consumer, business and government market security trends. Complete survey results are available at http://www.authentec.com/technology-market-surveys.html.
About AuthenTec
With 25 million sensors in use worldwide, AuthenTec is the world leader in providing fingerprint authentication sensors and solutions to the high-volume PC, wireless device, and access control markets. AuthenTec's award-winning sensors take full advantage of The Power of Touch® by utilizing the Company's patented TruePrint® technology to deliver the most convenient, reliable and cost-effective means available for enabling touch-powered features that extend beyond user authentication. The Company's customers include: Acer, ASUSTeK, Fujitsu, HP, Hitachi, HTC, Lenovo, LG Electronics, Samsung, and Toshiba, among others