MITEK
3.10.2022 15:39:39 CEST | Business Wire | Press release
New research by Mitek, a global leader in digital identity and digital fraud prevention, and YouGov has found that banking customers’ trust in technology remains low in the United Kingdom. Only half (52%) of UK bank customers feel that technology like artificial intelligence (AI) and biometrics positively impacts their trust in banks, and only 5% would prefer all interactions with AI/automated systems when engaging banks. These findings are based on a survey of more than 2,200 adults across age groups and UK regions.
The industry has undergone a rapid digital transformation in the last few years, with Gartner predicting IT spending by banking and investment services firms growing by 6.1% by end of 2022, to US$623 billion worldwide. While nearly eight in 10 (79%) customers are satisfied with their bank’s digital experience (rating it “good”, “very good”, “or “excellent”), banks are in danger of facing a market-driven stalemate in their research and development should the tech trust gap continue to widen.
According to Mitek and YouGov’s research, account security is ranked as the top priority for UK bank customers over ease of access or ease of opening an account, with 79% wanting banks to adopt the latest technology built to keep their accounts safe. This sentiment is strongest amongst those aged 45 and above (83%). Yet despite this finding, only 35% who are comfortable using a mobile banking app say they have set up face biometrics to log in. While the number is at 50% for ages between 18-34, it drops to 20% for those aged 55+ - suggesting there may be a lack of awareness of the benefits of biometrics in securing accounts.
When it comes to trusting a bank, 77% of UK bank customers said that the ability to speak to a human when needed would have a positive impact on their trust. This percentage is higher for those aged 55+ (85%) compared to those aged between 18-34 (71%). The latter group are also less likely to cite the ability to go to a local branch office than those aged 55+ (55% vs 65%).
Sanjay Gupta, VP at Mitek, says: “At Mitek, we believe in the power of technology to help financial institutions keep peoples’ accounts safe and secure, and in building consumer trust and loyalty. It is critical to close the tech trust gap and educate people on more advanced technology like biometrics and AI to supersede outdated and vulnerable ones like passwords.”
Research Methodology
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,225 adults, of whom 2,202 have bank accounts. Fieldwork was undertaken between 13th – 19th April 2022. The survey was conducted online. The figures have been weighted and are representative of all UK adults (aged 18+).
About Mitek
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies new levels of control, deployment ease and operation, while protecting the entire customer journey. Trusted by 99% of U.S. banks for mobile check deposits and 7,500 of the world’s largest organizations, Mitek helps companies reduce risk and meet regulatory requirements. Learn more at www.miteksystems.com. Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s latest blog posts here.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005229/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
European Wealth Firms Build Private Markets Capability Faster Than They Communicate It, Peregrine Report Finds20.10.2026 10:15:00 CEST | Press release
Capability outpaces communication: 73% of the 30 firms show visible private markets engagement, yet only 40% have a dedicated landing page explaining it to clients Swiss private banks set the benchmark: 70% maintain dedicated private markets destinations, led by Julius Baer, UBP, Pictet and Lombard Odier Visibility is concentrated: five firms generate half of all wealth management media coverage, and alternatives just 7% Europe's leading wealth managers have built genuine private markets capability but most have yet to explain it to the clients they built it for, according to The Wealth 30, a new report from Peregrine Communications. The study analyses how 30 leading UK and European wealth managers and private banks position private markets. It concludes that communication, not product, is now the biggest barrier to differentiation in the wealth channel. Capability outpaces explanation 73% of the Wealth 30 engage in private markets yet only 40% operate a dedicated landing page explaini
Infobip and Yamaha Power Conversational Customer Engagement in Indonesia’s Automotive Sector20.10.2026 10:00:00 CEST | Press release
Global AI-first cloud communications platform Infobip strengthens its collaboration with Yamaha Indonesia Motor Manufacturing (YIMM) to transform customer engagement through WhatsApp-powered conversational experiences designed to drive stronger personalization and faster customer interactions. As Indonesia’s consumers increasingly adopt digital-first purchasing behaviors, Yamaha Indonesia is evolving how it connects with customers across the buying journey. Today’s motorcycle buyers often research products through Yamaha’s social media, websites, and video reviews on YouTube before visiting dealerships, raising expectations for brands to deliver fast, seamless, and highly personalized communication. For more than two years, Infobip has supported Yamaha Indonesia in building connected customer engagement strategies that integrate WhatsApp across the company’s wider digital ecosystem, including its websites, social media platforms, and customer touchpoints. The collaboration reflects the
BRG Survey Finds 71% of Competition Lawyers Say Global Antitrust Policies Grew More Fragmented over Past Year20.10.2026 09:00:00 CEST | Press release
BRG's inaugural Global Antitrust & Competition Report surveys 155 senior attorneys across 15 countries, mapping a new era of enforcement shaped by expanding priorities and mounting political stakes. Global antitrust enforcement is pulling apart along national lines, with 71% of senior competition attorneys reporting that policy became more fragmented across jurisdictions over the past 12 months, according to BRG’s inaugural Global Antitrust & Competition Report. Nearly four in five (78%) also cite cross-border antitrust requirements as a significant or recurring challenge. The report draws on a survey of 155 senior antitrust and competition attorneys across the U.S., Europe and Asia-Pacific (APAC) and in-depth interviews with 18 leading lawyers. It also finds that about 60% of respondents expect antitrust enforcement to expand in scope and intensity over the next 12 months. “Domestic politics and geopolitical considerations increasingly influence the application of competition law acro
Finsei Selects Thredd to Power New Debit Offering20.10.2026 09:00:00 CEST | Press release
Partnership brings scalable payment processing, digital wallet capabilities and advanced fraud controls to integrated business finance platform Thredd, the AI-first issuer processing platform, today announced a new partnership with Finsei, a London-based payments company, to power the processing infrastructure behind Finsei’s new Mastercard debit offering. The partnership reflects a shared focus on simplifying an increasingly complex payments environment. Businesses operating across markets often rely on multiple providers to manage accounts, payments, foreign exchange, cards and expenses. Finsei is designed to bring those capabilities together, while Thredd provides the underlying payment technology and infrastructure needed to deliver a secure, digital-first debit experience at scale. At launch, physical and virtual cards will be available, followed by both Apple Pay and Google Pay. “Businesses increasingly expect their financial tools to work together rather than operate as a collec
Murata Develops World’s Smallest 008004-inch Size (0.25mm × 0.125mm) NTC Thermistor for Space-Constrained Temperature Sensing20.10.2026 04:00:00 CEST | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) announces the development of the world’s smallest* 008004-inch size (0.25mm × 0.125mm) NTC thermistor, the NCU01 series. Compared with Murata’s previous smallest 01005-inch size (0.4mm × 0.2mm) product, the new series reduces mounting area by approximately 60% while achieving equivalent temperature-sensing performance, with resistance tolerance of ±1% and B-constant tolerance of ±1%. Its ultra-compact size enables temperature sensing to be positioned in increasingly restricted spaces and closer to heat-generating components, supporting more accurate and responsive thermal monitoring in smartphones, wearable devices, and other densely integrated electronic devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019189089/en/ [Murata Manufacturing Co., Ltd.] World’s smallest 008004-inch size (0.25mm × 0.125mm) NTC thermistor Murata plans to begin sample shipm
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom