Demographic data from USAA have shown that the elderly are among early adopters of their biometric authentication for mobile banking.
Of the more than 400,000 USAA customers who have opted in to use the face, voice or touch biometrics, the median age is 35 with 15% of the older half over the age of 65.
The demographic data was showed by Rick Swenson, from USAA, at a London roundtable hosted by the Center for the Study of Financial Innovation.
At the beginning of the year, USAA began offering biometrics solutions like face and voice recognition. Within a month a more than 200,000 members had signed up for the service. Also, fingerprint authorization was incorporated last month.
It is comprehensible that the elderly embrace technology relying on physical features because as hearing, motor skills and short-term memory slip, they may have difficulties when using a password or PIN, especially on the small screen of a mobile device.