Financial institutions must balance usability and security as well as privacy and disclosure to effectively implement biometrics.
Boston, October 13, 2016 – Through the advancements in mobile phone technology, consumers have come to embrace biometrics and are beginning to accept that their biometrics are unlikely to be stolen or compromised. Biometrics firms are moving past just fingerprints and facial recognition and are looking into voice, heart rhythms, iris and eye vein scanning, and many more. The time has come for financial institutions to strongly consider biometric authentication methods in a variety of contexts.
This report looks broadly at a variety of biometrics capabilities that are being deployed across the globe and a number of vendors supporting biometric authentication. It is based on Aite Group requests for information from 25 vendors from March to August 2016 and interviews of more than 10 executives from large financial institutions and payments service providers. It presents overviews of BehavioSec, BioCatch, BioTrust, Daon, Early Warning Services/Authentify, EyeVerify, Fujitsu Frontech, Gemalto, GreenKey Technologies, Hypr, LexisNexis Risk Solutions, NuData Security, Nice Systems, Nok Nok Labs, Nuance, Nymi, OneVisage, RSA, Say Pay, Sensory, Sestek, Vasco, ValidSoft, Verint, and VoicePIN.
This 35-page Impact Report contains four figures and five tables. Clients of Aite Group’s Wholesale Banking & Payments or Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Apple, Google, Samsung, and Microsoft.