CSC reveals that data generation at its current levels is set to grow by 4300% annually by 2020 – an astonishing increase.
The challenge now is ensuring that your company, employee and customer data is safely and securely stored and managed.
The Rise of Biometrics
New technologies are being created in response to this threat, both to negate data security risk and improve the digital customer experience. Biometric authentication is one of the fastest-growing solutions.
It is estimated that by 2020, biometrics will be used to authenticate almost 65% of all mCommerce transactions. Other estimates indicate that the global biometrics technology market will reach $22bn by 2020.
Second-generation biometric authentication options are rapidly entering the mainstream, with adoption from major technology players. These include iris, facial recognition and fingerprint options, most notably Apple’s Touch ID.
Biometric authentication is growing in trust among consumers, as passwords and PINs impede the customer experience and trust in their effectiveness continues to decline – more than three-quarters of consumers in a recent Accenture survey indicated they were ready to move beyond passwords.
Even as biometric authentication moves to the mainstream, next level solutions are being developed.