Just 9.5 percent of all financial institutions offering mobile banking use fingerprint authentication, such as Apple’s Touch ID technology, for account access, according to figures released today by consulting firm Celent. However, the figures, drawn from the FI Navigator database, showed that financial institution uptake of fingerprint verification is growing fast, more than doubling since October 2015.
Even among the largest financial institutions, just 38.1 percent offer fingerprint authentication. Only 8 of the 21 institutions with assets over $100 billion that offer mobile banking include fingerprint access. Fewer smaller banks offer the service; of those with $10-100 billion in assets, 19.7 percent do. The share offering fingerprint verification falls to 13.5 percent for institutions with $1-10 billion, 11.7 percent for those with $500 million to $1 billion in assets, 8.8 percent for those with $100-500 million, and 6.7 percent for those with less than $100 million in assets.