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'Until death do us part'? Possibly, where PINs are concerned

A new study has found that a British couple's four-digit ATM codes could be more durable than their wedding vows.

October 1, 2014

In the U.K., marriages that end in divorce generally last less than 12 years. But a Brit's commitment to a PIN? That lasts 15-plus years on average.

"Many Britons have a longer relationship with their PIN than they do with their spouse," said Clayton Locke, CTO at Intelligent Environments, the company that conducted the study. "With so many passwords to remember, no one wants to keep changing their four digit ATM codes. Unfortunately this increases the risk that a criminal could gain access to your accounts."

But perhaps Brits don't bother to change PINs because they don't believe it will help protect their accounts, anyway. Intelligent Environments research also found that the PIN number is losing cardholders' confidence. More than 40 percent of banking customers do not believe a PIN is a safe way to log in to an ATM. And 60 percent want banks to provide a better alternative.

Mobile access and biometrics could be the solution, Locke suggested.

"There's a great opportunity for banks to employ second factor authentication using these methods, for example by installing fingerprint scanners on their cash machines, or enabling remote identification through a smartphone," Locke said. "Second factor authentication has become a key method of keeping digital banking services secure, and this technology can be extended to the ATM."