Security Requirements Push Customers Away from Banks

05 Oct 2020
Company
Date submitted
05 Oct 2020
Resource type
White paper
File type
pdf PDF file (83.02K)
Regulations and requirements aimed at making retail banks more secure are driving customers away, according to Aarti Samani, SVP of product and marketing at iProov.

A report by IPSOS Mori showed that on average, two-thirds of customers are unsatisfied with their bank in the UK, something that Samani blames on the cumbersome security experience, in particular the use of complex passwords and one-time-passwords (OTPs).
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