Banks Are Seriously Considering Multi-Factor Biometrics for Authentication

For years, passwords have been the most widely used tools to protect data and systems. As technology has evolved to a greater extent in recent times, it has been found that passwords can be easily broken. System security professionals agree to the fact that passwords are too weak an authentication technique. So what are the alternatives? Biometrics, for one, can be used as a replacement for passwords. Biometrics measure, store (or encrypt and store), use biological characteristics of an individual for identification or verification purposes.

First let’s have a look at what "individual" biometric solutions are available today:

Fingerprint

Fingerprint biometric technology refers to the use of a person's fingerprint characteristics to identifying that person. Fingerprint payment, based on finger scanning, is the most common biometric payment method. It was made popular by Apple Pay and now expected to be adapted by other systems in the future. Touch ID by Apple works on fingerprint recognition. MasterCard along with biometrics company Zwipe are bringing world's first fingerprint authenticated payment card for contactless payments.

Voice Biome ...