Financial servicesFinancial Services

Aware offers solutions for user authentication on a mobile device using biometrics. Aware’s Knomi® mobile biometric authentication framework allows banking customers to use their mobile banking apps to login and perform transactions without using passwords.

Financial Services Solutions

Mobile Biometric Security in Digital Banking

2020-01-20T11:30:08-05:00By |

The financial sector is doing a better job preventing cyber security breaches and fraud than other industries. According to a report from the Identity Theft Resource Center and CyberScout, the banking, credit, and financial sector experienced fewer data breaches in 2016 than any other sector. That doesn't mean banks are clear of threats. Financial institutions [...]

How Biometrics Expand the Reach of Mobile Banking

2020-01-20T11:30:14-05:00By |

For financial institutions, mobile banking is a cost-effective way to reach new consumers. The technology offers financial inclusion and unprecedented convenience. The Nielsen Mobile Shopping, Banking and Payment Survey found 47 percent of consumers across the globe used their mobile phones to check their account balances at least once in the six months prior to March 2016. 42 percent said they had used their mobile devices to pay bills.

The State of Biometrics Solutions: Use Cases and Advances

2020-01-20T11:30:19-05:00By |

Global Market Insights estimated that the biometrics market will be worth $31 billion by 2023, with future growth driven by consumer-facing applications like mobile authentication. Consumer electronics, healthcare, banking, and even the home safety industry are integrating advanced biometrics capabilities into their products, services, and operations. This is in part because biometric technology is performing [...]

Why Biometrics Will Replace the Password for Mobile Banking

2020-01-20T11:30:25-05:00By |

Banks are starting to question just how effective passwords really are at protecting their customers’ accounts. Customers also increasingly view passwords as outdated and insecure, particularly for use on mobile devices. Tech pundits have speculated that biometrics will soon replace use of passwords on mobile devices and that the financial industry will be the leading [...]

Reaching the Next Level of Banking Security with Biometric Facial Recognition

2020-01-20T11:30:33-05:00By |

The number of identity fraud cases increased 16 percent between 2015 and 2016, according to Javelin Strategy & Research. The finance sector still struggles to combat fraudsters. Despite increased adoption of EMV cards and robust password creation policies, banking customers are still falling victim to fraudsters, and it's costing banks big. U.S. financial institutions alone [...]

What is Biometrics as a Service? Benefits and Use Cases

2020-01-20T11:30:39-05:00By |

Infographic Biometrics-as-a-Service (BaaS) solutions from Aware are an attractive alternative to traditional biometric software models. This technology allows organizations of all types - from governments to telecommunications companies - to quickly deploy and start using biometrics technology in their day-to-day identity management operations. In other words, with BaaS, you [...]

Biometrics for banks: identity protection and regulatory compliance

2020-01-20T11:33:46-05:00By |

Identity authentication based on biometric matching continues to grow along with consumer acceptance in both private and public sectors. Biometrics, the unique physical characteristics that all human beings have, include fingerprints and iris scans, as well as facial and voice matching. These modalities can all be used – to various extents – to clearly identify [...]

FIDO Adoption Pushes Passwords the Way of the Dodo

2020-01-20T11:34:05-05:00By |

Of all the things we do online, managing our passwords has to be our least favorite. The horror stories are told over and over again – password phishing, stolen identities, data breaches. Billions of dollars are spent every year by business, government, and consumers in an attempt to safeguard our most cherished belongings: our identities. [...]

Going Branchless – Mobile Onboarding for Banks

2020-01-20T11:34:10-05:00By |

Banks keep making banking easier, and that means cutting down on branch visits or eliminating them altogether by giving customers really great mobile apps. Perhaps more than any type of business, banking and financial services firms increasingly rely on the sophistication and ease-of-use of their mobile applications to attract new customers and keep them. They [...]

Biometric Authentication Part IV – Spoof Detection Is Critical For Mobile Facial Biometrics

2020-01-20T11:34:21-05:00By |

Facial recognition is here to stay for mobile authentication. It’s fast, easy, and familiar to anyone who has taken a selfie. And thanks to the universal appeal of the selfie, even lower-cost mobile handsets just about now have a front-facing camera. This is important because it means that biometrics can be used to strengthen the [...]