Consumers are increasingly fed up with standard authentication processes as they look to voice as the future
ATLANTA – March 3, 2022 – Pindrop, a global leader in voice technology, today released the findings of a commissioned survey that explores how 2000+ US-based consumers feel about the future of voice-enabled technology and how it will impact their everyday lives. The report uncovered that consumers are so fed up with passwords and KBAs (Knowledge Based Authentication Questions) to access accounts or verify identity that many would be less annoyed by having their flight delayed or having to shovel snow.
Key findings include:
- Nearly 70% of those surveyed believe securely unlocking their vehicle and starting it using only their voice would be very or extremely helpful in their day-to-day lives, while 54% are eager to be able to access an ATM with just their voice.
- One third (33%) of consumers have had their bank card stolen at some point, and nearly half (46%) felt answering KBAs was frustrating or completely unnecessary when dealing with that issue.
- 55% of individuals have been really stressed out by a digital identity verification system that didn’t work the way they wanted it to, with Captchas and multi-factor authentication considered the most inconvenient forms of digital identity verification.
- 63% feel resetting their password is a huge inconvenience and believe that there has to be an easier way; 14% of those surveyed would rather be stuck in traffic at rush hour than reset their passwords.
“As the world shifts to increasingly digital interactions and transactions with the advent of the Metaverse, our voices will eventually be the only thing that reliably authenticates us,” said Vijay Balasubramaniyan, CEO and co-founder of Pindrop. “As the data indicates, consumers are starting to realize the value of voice enabled technology and the convenience it can provide. If brands want to remain competitive and build trust with consumers, they’ll need to think about how to integrate this technology to create seamless, yet secure, customer experiences.”
As human beings our voice is unique. It holds massive potential for the future of both security and customer experience and has the power to improve consumers’ lives across the board. The survey details how consumers are embracing voice authentication, their hopes for future applications of the technology and their distaste for the approach most brands currently employ, particularly in the following three areas:
Voice enabled technology holds great promise for consumers. It has the power to open new worlds and generally make life easier for frustrated consumers.
- Nearly half of all consumers surveyed (43%) use voice technology on a daily basis. That number increases to 70% when you add weekly users of voice technology.
- Consumers believe it would be extremely helpful to put voice-enabled parental controls on streaming services to protect young children from mature content (71%), securely unlock and start their vehicle (70%) and accessing their bank account at the ATM (54%).
Not only can voice enabled technology make life easier for consumers and create seamless customer experiences, but in the era of the metaverse, a person’s voice is a consistent individual attribute in both the digital and physical worlds.
- Voice authentication is essential to keep consumers safe and secure and protect them from fraud.
- Consumers are fed up with other methods of authentication, with many ranking the answering of KBAs as more annoying than a flight delay, snow shoveling, or rain on their vacation.
The customer experience, either digital or physical, can have a massive impact on a brand’s reputation. Regardless of whether or not this consumer sentiment is justified, it’s happening and brands need to be prepared.
- When those surveyed have to answer more than two KBA questions to access an account, they feel frustrated (55%) and annoyed (57%) versus comforted (11%) or confident (9%) by the security the brand has in place.
- One quarter of consumers indicated that when their bank makes them answer KBAs, they view the brand as antiquated and inconvenient.
- A bank that enables users to authenticate themselves with voice only is viewed as tech savvy (38%), secure (31%) and trustworthy (28%).
- When those surveyed get locked out of their account because of a forgotten password or incorrectly answered KBAs, nearly 10% will abandon the account or brand entirely, and 14% blame the brand for a poor user experience.
For more information about Pindrop, please visit www.pindrop.com.
In an increasingly digital world, Pindrop lets people use their voice to seamlessly connect to, enter and unlock new experiences while helping safeguard their privacy. Using its patented voice authentication technology, Pindrop is leading the way to the future of voice by establishing the standard for identity, security, and intelligence for voice interactions. Working with some of the world’s biggest banks, insurers, and retailers, Pindrop enables customers to quickly, conveniently, and securely connect to the information and resources they need. Its voice authentication technology analyzes unique features within the human voice and surrounding audio that enables its customers to prevent fraud and deliver exceptional customer experiences in call centers, when obtaining information from smart devices, and even when activating cars. A privately held company, Pindrop is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, IVP, and Vitruvian Partners. Visit pindrop.com for more information.
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