Blog

The Future of Biometrics in Banking Is by the Books

By | 2017-08-09T10:21:18+00:00 August 9th, 2017|

Financial institutions in the European Union have long acted as fintech beacons for the rest of the world. Case in point, the chip-and-PIN card technology that the U.S. only started rolling out in 2014 has been in use throughout the EU since the mid-2000s. Now the EU is preparing to take its next leap forward [...]

Mobile Biometric Security in Digital Banking

By | 2017-07-25T15:40:37+00:00 July 25th, 2017|

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

By | 2017-09-08T15:35:12+00:00 July 10th, 2017|

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

By | 2017-10-11T15:23:34+00:00 June 15th, 2017|

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

By | 2017-05-25T15:20:53+00:00 May 25th, 2017|

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 Customers also increasingly view passwords as outdated and insecure, particularly for use on mobile devices.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

By | 2017-05-11T09:21:44+00:00 May 11th, 2017|

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

By | 2017-04-24T12:47:58+00:00 April 25th, 2017|

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 [...]

Biometric Data Interoperability Challenges Rise with Worldwide Adoption

By | 2017-03-24T12:46:59+00:00 March 8th, 2017|

“The nice thing about standards is that you have so many to choose from.” -Andrew Tanenbaum. As the biometrics market continues to mature, two phenomena become increasingly apparent. First, more and more institutions choose to adopt biometrics as an enhancement to their business. Secondly, these institutions seek to make use of existing standards for data [...]

Biometrics Untethered – Capture and Search with Better Accessibility and Ergonomics

By | 2017-03-24T12:46:59+00:00 February 9th, 2017|

Mobile technology has revolutionized many industries, and biometrics is one of them. As biometric authentication on handsets has become ubiquitous, the impact of its adoption has impacted biometrics beyond consumer applications. The mass-market scale of biometric authentication is driving useful technology improvements into biometric enrollment for search. One example is sensors. It wasn’t that long [...]

Biometrics for banks: identity protection and regulatory compliance

By | 2017-03-24T12:46:59+00:00 January 12th, 2017|

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 [...]