Despite countless warnings and measures to safeguard customers, identity theft in South Africa continues to escalate. According to reports, someone’s identity is stolen every two seconds somewhere in the globe. According to recent figures from the National Council on Identity Theft Protection in the United States, identity theft would cost Americans about $6 billion in […]
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On January 23rd, Mastercard announced that they are developing a process for the users of Mastercard so that by April next year, all users will be able to authenticate themselves using biometric identity. This announcement probably came with the new PSD2 of the European Union that will allow the external third party companies getting access […]
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A recent study on biometric authentication for payments shows that 97% of Singaporeans are interested in biometric authentication technology to verify their identity and 96% are interested in making payments via this technology. They believe that using a biometric system is faster, easier and, more importantly, it is a secured way of performing transactions. More […]
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The following guest post on the use of biometric technology for individual identification in banking and financial services was submitted by Maricel Tabalba. A significant increase in data breaches in the past few years has urged many financial institutions to consider using biometric security. The Gemalto breach level index showed that there were 1,540 credit […]
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If you haven’t heard the news, more banks are adopting biometric technology for customer authentication to increase security. Banks all around the world have been searching for more advanced technologies such as biometrics for better protection against identity theft, fraud, and cyber-crime often perpetuated by stolen customer identities. Biometrics acts as a strong authentication tool […]
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As global financial entities become more digitally-based, banks are piloting new technologies to improve customer and employee identity management in an effort to combat fraud, increase transaction security, and enhance customer convenience. One cutting edge technology increasingly used at many of the world’s top financial institutions is biometrics. In today’s post, we have identified the […]
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As the volume of financial service security breaches, transaction fraud, and identity theft increases, the need for highly secure customer identification systems is becoming extremely important. As a result, in the banking and finance sectors, the “Know your customer” (KYC) initiative is getting more traction to prevent fraud and identity theft. One technology that is […]
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The rapid digitization of banking services combined with the continued need to adopt stricter customer and employee identification protocols to prevent identity theft and fraud has set the table for biometric identification technology to become an integral and strategic part of financial service security platforms. Acting as a strong authentication tool to help secure ATM, […]
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Perhaps foreshadowing a future shift for micro-credit banks across the globe to start using biometrics for customer identification, we distributed a News Release today announcing that ASMAB, a micro-credit bank in the country of Benin, has started to use fingerprint biometric banking technology for customer identification. The genesis for ASMAB’s decision to start using fingerprint […]
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Face Recognition |
Fingerprint |
Finger vein |
Iris |
