Biometrics

Biometrics are the new weapons of war against online fraud and supporting financial services with biometric authentication and their KYC (Know Your Customer) procedures. ​ There are many different areas where biometrics are being deployed. For example in digital identity; an alternative to user names and passwords; protecting against ID theft; account takeovers and multiple accounts. ​ Mobile biometric authentication is helping to verify new and returning customers at the point of log-ins, payments and digital on-boarding.

Michel Roig President Payment and Access at Fingerprints

Biometric payment cards: Benefits, misconceptions, and future adoption

Adoption of biometric payment cards is increasing across the globe, and there are many reasons for this. Let’s start with regulatory compliance and enhanced security. The recently imposed Strong Customer Authentication (SCA) under the Second Payment Services Directive (PSD2) requires banks to perform more checks to confirm the identity of a consum...

29 June 2022 /security /payments

Retired Member 

Five strategies to avoid the true cost of identity fraud

Customers across financial industries are increasingly using services almost entirely online. It’s a consumer shift that was gaining momentum before the pandemic, with the rise of neo-banks, but digital-first services became essential to keeping us financially connected over the last two years when there were physical restrictions and lockdowns. N...

11 April 2022 /security /identity

Barley Laing UK Managing Director at Melissa

Biometrics: 2022 is the year of facial verification

Biometric technology has only been taken seriously by many in financial services since the start of the pandemic, which made the remote onboarding of customers a necessity. Biometrics is already proving itself to be an important identity verification option for financial institutions, particularly as technology continues to evolve in this area. In...

22 February 2022 /identity /crime

Retired Member 

Building Trust with Biometric Cards—Less Friction, More Security

How we managed payments only few years ago is now going through a big change on every level. Not only are we seeing the expansion of digital platforms, but also new products like digital wallets and biometric cards are popping up everywhere. Biometrics are used to identify individuals using unique identifiers such as facial recognition, iris verifi...

15 November 2021 /security /payments

Ed Ackerman Director of Alliances & Partnerships at Onfido

Don’t let a lost phone lose you revenue

Of the 333,000 items found on the London Transport network each year, around one in ten are mobile phones. And while we may not have all experienced losing this most treasured of items, we can empathise with the massive inconvenience. And with good reason. New research from Onfido and Okta found that 35% of customers would find it difficult to acc...

04 November 2021 /security

Ed Ackerman Director of Alliances & Partnerships at Onfido

Why COVID-19, NFTs, and the crypto-boom have accelerated the end of passwords

Passwords have long been an archaic form of access security. A recent survey showed that one in 10 people would rather get a root canal or a filling than create a unique password for every online account they have. It’s not surprising to learn then that 50% of those surveyed reuse passwords and one in five have a core password that they adapt to ...

25 May 2021 /security /crypto

Eduardo Castro Head of Identity and Fraud at Experian

How sophisticated security methods can help in the battle against online fraud

New official figures have revealed the extent of the threat posed by online fraudsters. The National Cyber Security Centre (NCSC) has removed more scams in the last 12-months than in the previous three years combined. The surge in scams has been fuelled by the pandemic, with fraudsters launching a host of phishing attacks via email and text message...

20 May 2021 /security /identity

Michael Boukadakis CEO at ENACOMM

Voice Biometrics Are Ready for Prime Time in Banking

Banks have been dealing with a balancing act between “fast and frictionless” and “secure and accurate” for many years, with consumers long pushing to move away from traditional, friction-based means of authentication. Thankfully, ditching outdated ID methods is now feasible, with recent improvements in biometric technology tipping the scale toward...

19 May 2021 /retail /cloud

Steve Cook Head of Business Development at ID R&D

Biometric liveness detection for digital onboarding and authentication

Today, there is key requirement for remote digital onboarding and authentication practices, and that is biometric liveness detection. Biometrics provide a secure method for matching a person's face, voice, iris, fingerprint or palm, but how do you prevent spoofing attacks or someone trying to impersonate you. This is where liveness detection plays...

11 March 2021 /security /identity

Paul Hampton Security Expert at Thales

The Hand of Amazon: How the financial industry must keep up

Last year Amazon announced the adoption of a game changer for payments; Amazon One, which allows shoppers to pay at stores by placing their palm over a scanning device when they walk in the door or when they check out. A bold move by the retail giant which aims to offer the complete shopping journey for customers by changing how identification at ...

01 February 2021 /security /payments