State of Authentication in the Finance Industry
Project Information
Client name:
HYPR
Published:
Jul 2022
Number of interviews:
500
Countries:
United States of America, United Kingdom, France, Germany
Organisation size:
50+ employees
Topic:
Cybersecurity
HYPR's State of Authentication in the Finance Industry report explores insights from 500 IT security decision-makers in the financial sector, spanning the U.S, U.K, France and Germany. We partnered with them to investigate the burden that current authentication practices are leaving on financial organizations globally, specifically the high-risk cracks in security, strain on budgets and overall operational disruption.
80%
of financial services organisations have experienced a breach that was likely related to authentication weaknesses
90%
of respondents consider their organisation’s authentication approach to be secure, yet widespread use of insecure methods is prevalent
89%
state that organisations need to adopt passwordless authentication to ensure the highest level of authentication security
Callum Budd
Research lead
Scott Dodgson
Head of New Business Strategy & Partnerships
Press attention:
- Authentication weakness responsible for 80% of financial breaches - SC Media - 20 Jul 2022
- Financial Firms Failing to Fix Authentication Breaches - Infosecurity - 15 Jul 2022
- Report: Financial Institutions Overly Complacent About Current Authentication Methods - Yahoo! Finance - 13 Jul 2022
- Report: Financial Institutions Overly Complacent About Current Authentication Methods - PR Newswire - 13 Jul 2022
