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.
Millions of people in many parts of the world buy prepaid SIM cards to purchase mobile telephony and data services on a pay-as-you-go basis, as opposed to a subscription and contract. The vast majority of users are attracted to this model of service for its low cost, flexibility, and convenience. But the potential anonymity afforded [...]
Biometrics have been primarily the business of governments for many years, which—for applications like law enforcement, defense, and border control—applied biometric search to “identify” people, essentially verifying their claimed identity.
Today, biometric sensors are ubiquitous, and millions of people are using biometrics many times each day for authentication. It’s now hard to remember a time when the association of biometrics with criminality was reflexive; a notion that collection of my fingerprints—let alone a mugshot— represents accusation and inherent mistrust. This is a powerful paradigm shift for the industry not only in terms of market potential but for the change in how consumers view biometrics [...]