Passwords Are Unsafe in Digital Banking Says BofA Executive

Michelle Moore, an executive and head of digital banking for Bank of America, told the Charlotte Observer that the use of user IDs and passwords to access bank accounts online is an antiquated system that needs to be changed in order to better protect against hacking.

The Observer noted that Bank of America currently offers the use of fingerprints as a biometric means to verify users, with iris scanning and facial recognition alternatives that could be installed in the future.

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