The cost of weak authentication
The financial implications associated with weak authentication can be disastrous. The average cost of a corporate security breach is $7.2M. Retailers lose an average of 7% of annual revenues to theft and fraud by employees. Patient misidentification errors cost more than $55B annually in the U.S. alone.
This reality, along with three global megatrends — globalization, decentralization and mobility — are driving a worldwide adoption of biometrics. Because, while passwords, tokens and ID cards can be faked, forged, stolen or otherwise compromised, biometrics are inextricably tied to individuals.