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The rise of biometric banking and business

  • Author:zz
  • Source:zz
  • Release on:2016-12-08
Biometric technology is driving innovation at many of the world’s top financial institutions. As digital banking increasingly gains ground, banks are utilising the latest technologies to develop next-generation identification controls to battle fraud, reinforce weak points in their security systems and enhance the customer experience.
Thanks to Apple’s Touch ID, Samsung’s fingerprint scanner and a collection of new innovators entering web based time clock software the industry, biometrics are becoming more popular with businesses and consumers alike. This status means both hardware and software manufacturers are security steel door multi lock starting to see the wireless indoor security system value of investing in biometrics.
This trend is especially apparent within the financial sector as banks waterproof electronic door lock face a lot of pressure to enhance their digital wireless gsm security systems offering. With the news that HSBC and Lloyds will roll out biometrics in the UK, and MasterCard announcing that it will be offering selfie authentication in future, the technology certainly looks set to replace some traditional practices.
It remains to be seen how successful the implementation of these schemes will be, but most signs look positive. Mastercard, for example, claims that 92% of test subjects preferred the new system to passwords.