India leads in adopting biometric technology among 11 countries surveyed by HSBC

A survey among 11 countries by HSBC showed that 9 percent people in India have used an iris scanner which is three times more than the countries surveyed. India also ranked second (31 percent), after China (40 percent)  in adapting the fingerprint recognition technology. The western countries surveyed, such as France (9 percent) and Germany (14 percent) scored lower than eastern countries such as China, India and UAE. [caption id=“attachment_384389” align=“aligncenter” width=“640”]  HSBC technology survey[/caption] The survey was conducted with over 12,000 consumers across 11 major economies to look at the level of trust in biometric security, attitudes to financial services and their feelings about adopting robotic intelligence in their lives. Out of all the people surveyed 98 percent own a laptop and 98 percent own a smartphone. 50 percent of people surveyed in India agreed that computers can provide more accurate financial advice than humans which was more than China (48 percent), Canada (185 percent), and UK (21 percent). 85 percent of the people in India agreed that advances in technology will make the world a better place and 89 percent agreed that technology makes their life easier. Fingerprint scanners have been used to identify themselves by 74 percent of the surveyed people in India and 20 percent think that technology to transfer money through brain signals will be available in the next year. 86 percent prefer doing most things using new technology if possible and 66 percent of the respondent said they are usually the first to try new things. [caption id=“attachment_384390” align=“aligncenter” width=“640”]  HSBC Technology Survey[/caption] Head of Retail Banking and Wealth Management at HSBC India, Ramakrishnan S said, “Consumers living in countries in the East seem to have a better understanding and greater trust of emerging technology and how it can benefit their lives. The speed of change and the insatiable rate of adoption put the likes of India, China and the UAE leaps ahead of most Western markets. In the case of India, a national mindset of openness coupled with government support for the rollout and promotion of new technology has had a transformative effect on the nation.” The number of people using passwords with a combination of letters, numbers, and symbols stood at 66 percent in India. Canada has the most number of password users. India ranks 2nd in terms of people using fingerprint sensors. Apart from adapting to new technologies, 41 percent of the people from India said, they are concerned over personal information leakage and many agreed that they are taking precaution over data security and protection. 71 percent used a different password for different banking products. Almost Half of the people (48 percent) surveyed agreed to use banking apps to manage their money, highest in all the markets surveyed in the report.  An Indian participant said “Apart from banking apps I do use a few payment wallet apps, I also use a financial app very regularly for tracking the stock market movements and stock news and rates, and another app from my stock broker for doing online trading from my mobile. Yeah I use a lot of Apps!”