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 Customers also increasingly view passwords as outdated and insecure, particularly for use on mobile devices.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

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 [...]

FIDO Adoption Pushes Passwords the Way of the Dodo

By | 2017-03-24T12:46:59+00:00 October 19th, 2016|

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

By | 2017-03-24T12:47:00+00:00 September 29th, 2016|

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

By | 2017-03-24T12:47:00+00:00 August 18th, 2016|

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 [...]