New Survey: Businesses Should Begin Preparing for the Death of the Password

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We’ve talked a lot about how today’s digital enterprises are racing to connect with consumers in innovative new ways while providing convenient and trustworthy customer experiences and tapping into the potential of big data to drive business value. Of course, the first step in building this experience is enticing customers to register, which in many cases requires them to create usernames and passwords. But when has that ever been a good experience? And is it really the most secure way to authenticate customer accounts?

To get some answers, Gigya recently conducted a survey among 4,000 adults in the US and UK, examining the ways that consumers are creating and managing their passwords and online accounts. We asked people how they approached traditional username and password processes in different contexts, including for their financial accounts. In particular, we wanted to find out the rate at which next-generation authentication methods like biometrics are gaining favor among various age groups.

The results may surprise you. While awareness of the dangers of identity theft and other types of cybercrime is at an all-time high, best practice recommendations for password creation management are rarely followed. There is also a marked trend toward wanting to eliminate the password altogether, with 52% responding that they would choose that option if they could. 

To learn more about how the death of the password may well be underway and how your business should be preparing for the future of authentication, download the survey guide and its associated infographic now.

By David Kerin