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Much like the fatigue being experienced due to COVID-19, your customers are inundated with news about data breaches and how their private data is at risk. But customers turn a blind eye and continue as usual, ignoring warning signs. They think it won’t happen to them, or they are not ‘important enough’ to be targeted. This is exactly when security fatigue sets in.
Customers are completely desensitized to security concerns and the many vulnerabilities that are left wide open, exposing them personally as well as your organization. They are aware that they have poor security practices but continue anyway because it all seems futile.
Bad security practices are especially true when it comes to password usage and habits. So how does the chronic effects of security fatigue impact your business? In this article we’ll uncover what is security fatigue, the consequences and the solutions available.
A National Institute for Standards and Technology (NIST) study describes security fatigue “as a weariness or reluctance to deal with computer security.” In the same study, many users expressed feelings of being tired of having to remember multiple passwords or feeling frustrated as they jump through security hoops to access their own information online.
As an organization, it is critical to recognize the security fatigue your customers are experiencing as it has direct implications on how your customers engage with your business. Customers are desperately searching for an identity experience that’s easy and pain free due to the exhaustion they already feel. When met with complicated security-related authentication processes, their immediate reaction is to flee. According to MasterCard, online retailers lose a third of all sales at checkout as a result of failed logins.
With customers left feeling inundated and overwhelmed by all of the security requirements needed to access their accounts, they tend to make decisions based on coping mechanisms, rather than following sound security practices. This is most evident with password usage.
According to new research by password manager NordPass, the average user has 70-80 passwords to remember. In order to cope with the excessive list of passwords and the draining side effects of another syndrome known as password fatigue, users often resort to bad password habits. These include using common passwords that are easy to crack, reusing the same passwords for multiple accounts and writing down passwords. According to a BBC report, 36% of online users reuse the same password in more than 25% of their online accounts.
Most customers know and fully understand that these are not good security practices but continue to do it anyway. This is evident when you think that the password “123456” is still used by 23 million account holders (First Contact). This practically opens the door for hackers to enter your organization. You might as well greet them with a warm welcome and a cup of tea. Compromised passwords are responsible for 81% of hacking-related breaches.
Referring back to the NIST study, the data they collected provided evidence to show that there are 3 ways to ease security fatigue and ensure that customers maintain secure and safe online habits. This includes:
Implementing a passwordless authentication solution would tick all these boxes. Here’s why. By removing passwords all together, customers won’t be bogged down with remembering tons of unique passwords. Instead, they can easily and securely use their biometric information to access their accounts.
Since the login or checkout process will be the same regardless of the device, app or browser, they will have a consistent identity experiences every time. Passwordless biometric authentication removes all other less secure forms of authentication like credential-based or social logins, making it easier for customers to choose the right security action.
Plus, by enabling your business with biometric authentication, not only are customers saved from the horrors of passwords, you, in turn, can build customer loyalty, increase business and personalize and tailor every identity experience.
Given the current state of authentication, the growing issue of security fatigue and the problems with passwords, Transmit Security set out to create a passwordless authentication service that would provide organizations with an easy-to-integrate, cross-channel authentication customer experience.
“BindID marks the end of an era. No more multiple IDs and credentials needed for each website. No more password resets and locked accounts. For the first time ever, customers can authenticate using biometrics using just their mobile device. BindID makes authentication simple, unified and much more secure.”
Mickey Boodaei, CEO and Co-Founder Transmit Security
BindID is the only natively passwordless service that provides a completely organic and password-free customer login experience. The development of this technology represents a dramatic leap forward in the industry because BindID improves both customer experience and security.
Are you ready to end your users’ security fatigue? Learn more about BindID today!
