As the culture of convenience pushes boundaries across segments, banking sees accelerating adoption of biometrics as the way to access personal accounts – Spanish heavyweight BBVA inches closer to Samsung to bring the biometric authentication on Android devices to its banking app.
BBVA, the first bank with access to its mobile app via iris scanning, thanks to Samsung
On Nov. 16, 2017, Samsung and BBVA presented the iris scanning feature, which will allow BBVA customers with Samsung-compatible smartphones to log on to the bank’s Spanish mobile banking app just by looking at their displays.
- BBVA becomes the first Spanish bank to deploy Samsung’s advanced biometric authentication technology, Samsung Pass, which will permit customers to bypass cumbersome login/password authentication methods.
- Iris recognition is currently considered to be the most secure form of identity verification.
- Samsung Pass, based on FIDO (Fast Identity Online) technology, frees the user from having to write identifiers and passwords to start each session.
BBVA is not really the first bank to allow users access to their accounts through iris scan. This year, Bank of America and TBS bank are also on one stage or the other with adopting similar technology for app access.
Sensory, Fujitsu Partner to Bring Face Biometrics to Banking, Enterprise, Retail
- Sensory Inc., a Silicon Valley company enhancing user experience and security for consumer electronics, announces that it has partnered with Fujitsu Limited to assist more banks, financial institutions, enterprises and others in adopting face biometrics within their mobile apps.
- Sensory’s TrulySecure™ face biometric authentication is FIDO-certified and provides users an extremely secure mobile banking experience without compromising convenience.
- The first customer to be announced as a result of the Fujitsu and Sensory partnership is Mizuho Bank, which will be integrating Sensory’s TrulySecure facial recognition into their mobile banking app.
Biometrics to replace PIN code in Nigeria
- The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing PIN code.
- "That means if you want to transact with your ATM, you will need to use your biometrics. There is no way you can give your finger to a third party. If that is enabling, it will make our system to be more secure and make all our transactions to be validated."
- Senior officials also said >90,000 military pensioners in Nigeria are to be identified as part of a national biometric verification exercise.
Credence Research forecasts biometrics in healthcare market growth
- The global healthcare biometrics market will grow at a CAGR of 22.9% to surpass $13.9 million in revenue in 2025.
- Demand is increasing for optimum certainty in patient identification to reduce healthcare fraud while protecting patient data privacy and security. In combination with increasing concern about cybersecurity, this is driving growth in the use of IT applications for healthcare, as well as the development and deployment of biometric technologies catering to the healthcare industry.
- Current prominent global market players in healthcare biometrics include BIO-key International, TOC Biometrics, Princeton Identity, BioConnect, NEC Corporation, Crossmatch Technologies, NuData Security, FST Biometrics Corporation, HID Global Corporation, Iris ID Systems, and MorphoTrak.
- Niche players have also emerged with developments in DNA biometrics and behavioral recognition technologies.
Voice Biometrics, Phone and Network Imaging – A Magic Mix for Intelligent Authentication
- Eckoh, the London-based provider of global payment products and customer service solutions, will be awarded a patent that combines voice biometrics with phone ‘footprinting.’
- When one considers that a phone ‘footprint’ is also regarded as a unique template, very much like a biometric template (voice, finger, face, etc.), this combination of factors actually satisfies all three criteria: 1) Multi-layer – speaker and device, both components that make up the ‘edge’ of a connection; 2) Multi-modal – voice and phone ‘biometrics’; 3) Multi-factor – something you are (voice) and something you ‘have’ (phone).
- The application of Big Data Analytics on various network components such as the SIM card (the primary network authentication layer), phone, carrier network(s), internal enterprise systems and other nodes across the entire voice ecosystem is yielding immense improvements in caller authentication. AT&T, Sprint, T-Mobile and Verizon announced in September that they have joined their considerable resources to create the Mobile Authentication Taskforce, whose goal to develop mobile authentication solutions using components such as network-based device authentication, geo-location and SIM card recognition.
Featured image source: IriTech.