Financial Biometrics

Explore the Financial Biometrics directory

What are financial biometrics?

Among the most popular and mainstream applications of biometric technology, financial identification, verification, and authentication in commerce is helping make banking, shopping, and account managing more safe, convenient, and accountable. In the financial space, biometrics solutions help ensure that a customer is who she claims to be when accessing sensitive financial data by capturing her unique biometric characteristics and comparing them to a template, stored either on the device being used or on a secure server. Banking and payments solutions available today utilize a wide range of biometric modalities: fingerprint, iris, voice, face, eyeprint, palm vein pattern, behavioral and other types of biometric recognition are all used, either on their own or combined in a multi-factor system, to lock down accounts and crack down on fraud.

Where can I find financial biometrics?

Mobile wallets such as Apple Pay and Samsung Pay, which allow users to make credit card payments online and at physical points of sale, use biometric authentication for security. Apple Pay leverages the iPhone’s Touch ID fingerprint sensor to ensure a payment is being made by the authorized user, for instance, while Samsung Pay gives users the option to shop by scanning their irises.

Banking apps use biometric authentication for login procedures. The matching method and modalities used vary from institution to institution, but face, voice, and fingerprint recognition are common among mobile banking applications. USAA was a pioneer in this respect, leveraging face, voice, and fingerprint biometrics for convenient security, and giving users the power to choose their preferred login method.

Call centers used for phone banking are increasingly turning to voiceprint security to mitigate fraud. By matching the unique characteristics of a caller’s voice to a template as she speaks to a customer service agent or IVR system, banks can verify her identity without resorting to belaboring security questions.

ATMs are being outfitted with biometric sensors—most commonly fingerprint and face recognition—enabling customers to conveniently do away with card and PIN transactions.

Points of sale around the world are on the verge of embracing Naked Payments solutions, which leverage biometric sensors at retail checkouts that allow customers to simply pay by being themselves.

How are financial biometrics making a difference?

Facial recognition security is used on the Humaniq digital banking platform, which aims to promote financial inclusion using blockchain technology, cryptocurrency, and mobility.

Biometrics are set to enable tourists visiting Tokyo for the 2020 Olympic Games to pay for goods and services with nothing by the touch of a finger.

New initiatives from biometric vendors and their partner financial institutions are paving the way for credit cards with embedded biometric sensors, promising stronger-than-PIN security with the convenience and familiarity of paying with plastic.

Read on to meet the leading providers of Financial Biometrics solutions.

Aerendir Mobile Inc. is the pioneer developer of a novel physiologic biometric authentication technology called NeuroPrint™ (NP). Our company’s patented technology extracts a unique proprioceptive signal from micro-vibrational patterns in the user’s hands, using the accelerometers and gyroscopes that are standard in today’s mobile devices. Products & Services: Financail, Healthcare, Mobile, Biometric Sensors & Detectors, Physiological.

Iris ID has been the key developer and driver of the commercialization of iris recognition technology since 1997. IrisAccess, now in a 4th generation, is the world’s leading deployed iris recognition platform. Found on 6 continents, in thousands of locations, authenticating the identities of millions and millions of persons, more people in more places authenticate with IrisAccess than with all other iris recognition products combined. Products & Services: Iris Recognition, Physical Access Control, Time and Attendance, Border Control/Airports, Financial, Healthcare

NEC has been at the forefront of defining leading-edge biometric identification solutions for over 40 years. NEC’s identification technologies include finger/palm print, DNA and face recognition solutions. NEC has developed some of the world’s largest and most complex identification infrastructure projects for government and law enforcement. Our mission is to help government and businesses use technology to build a safer environment for life and work. Products & Services: Fingerprint Readers, Mobile Biometrics, Facial Recognition, Justice/Law Enforcement, Financial and Transactional, Border Control/Airports, Healthcare Biometrics, Multi-modal Biometrics, Logical Access Control, Physical Access Control

BIO-key International (NASDAQ: BKYI), provides biometric identification solutions that scale to any size application. Our superior matching technology is compatible with EVERY major fingerprint reader manufacturer. BIO-key application engineers are available to assist in identifying the most appropriate fingerprint reader(s) to meet you application needs. Partnering with vertical solution providers, OEMs, and integrators, BIO-key delivers convenient, cost-effective and easy-to-deploy solutions to identify and authenticate individuals. BIO-key’s strong authentication is the ideal choice to satisfy industry regulations including HIPAA and FSTC, or to establish user identities as part of an audit trail. NIST ranks BIO-key in the top tier of MINEX and SDK performers. Products & Services: Fingerprint Readers, Biometric Security, Consumer/Residential Biometrics, Financial, Fingerprint & Biometric Locks, Healthcare Biometrics, Logical Access Control.

Aratek boasts of millions of installations worldwide. It is at the very forefront of harnessing the power of biometric technology to help governments, law enforcement agencies, banks, retailers and other enterprises mitigate risk, drive productivity and improve service levels. Our solutions are known to make a real difference, being the result of intensive consultation with experts, active listening to customers, and the application of advanced biometrics technologies. Products & Services: Facial Recognition, Fingerprint Readers, Financial, Mobile Biometrics

TECH5 is an international technology company headquartered in Geneva, Switzerland, with branches in the US, Europe and ASIA, dedicated to the design, development, and distribution of biometrics-driven Identity Management solutions. Target markets include Government and Private sectors with products powering Civil ID, Private ID, Law Enforcement and others. Learn more: www.tech5.ai Products & Services: Financial, Healthcare, Facial Recognition, Fingerprint Readers, Iris Recognition.

CMITech is a leading provider of high performance, cost effective iris recognition systems. The company is setting the industry standard for advanced user interfaces that are fast, intuitive and effortless. Serving enrollment and authentication solutions of all sizes, CMITech systems include binoculars-type, wall mount, desktop, and kiosk-type product configurations. Products & Services: Iris Recognition, Border Control/Airports, Financial, Physical Access

IDentek Search is an established recruitment partner to the global Biometric and Identity Solutions market. We work with a wide range of clients from start-ups and early stage companies through to established global brands, to help create successful senior teams in this fast-moving, cutting-edge technology area. We hire both technical and commercial roles at a mid to senior level. IDentek Search is well-known for helping Biometrics Identity Solutions companies gain competitive advantage by attracting the best niche talent in the global market. Our expertise covers roles within Digital onboarding, Citizen Identity, Biometric Smartcards and physical and logical access. Our network of highly qualified candidates spans the globe, with many successful recruitment assignments completed in EMEA, Asia, LATAM and the US. Find out more at www.identeksearch.com

BioCatch is a cybersecurity company that delivers behavioral biometrics, analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to reduce online fraud and protect against a variety of cyber threats, without compromising the user experience. Products & Services: Behavioral Biometrics, Middleware/Software, Mobile Biometrics, Financial

FaceTec provides the most secure and highest-rated Liveness Detection and 3D Face Matching biometric AI, enabling true secure password-less authentication from any device. FaceTec’s software is deployed via device SDKs and a server SDK to provide a complete authentication platform with the customers’ user data encrypted behind their own firewall. With a patented UI and developer tools that easily integrate into any app or web page, hundreds of organizations on six continents use FaceTec’s AI to authenticate millions of users and provide new account onboarding and ongoing access to banks, financial and government institutions, telecoms, ecommerce, insurance, and more. Products & Services: Facial Recognition, Financial, Healthcare, Mobile

Onfido is building the new identity standard for the internet.Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access. For more information, please visit www.onfido.com. Products & Services: Biometrics Security, Financial, Mobile Biometrics, Facial Recognition

IDEMIA is the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment. Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors. Product & Services: Fingerprint, Facial, Iris, Healthcare, Border Control/Airports, Financial, Justice/ Law Enforcement, Logical Access, Physical Access, Smartcards, Time & Attendance.

Crossmatch® solutions solve security and identity management challenges for hundreds of millions of users around the world. Our proven DigitalPersona® composite authentication software is designed to provide the optimal set of authentication factors to meet today’s unique risk requirements and afford complete enterprise authentication coverage. Crossmatch identity management solutions include trusted biometric identity management hardware and software that deliver the highest quality and performance required for critical applications. Our solutions support the financial, retail, commercial, government, law enforcement and military markets. With 300 employees and customers in more than 80 countries, Crossmatch sets the standard for innovation and reliability. Learn more: Crossmatch.com Products & Services: Biometric Security, Border Control, Financial, Healthcare, Justice/Law Enforcement, Mobile Biometrics, Biometric Sensors & Detectors, Facial Recognition, Fingerprint Readers, Hand Readers, Iris Scanners, Middleware & Software.

CLEAR makes life easier and more secure by using biometrics to confirm that you are you, creating a more frictionless customer experience whenever an ID is needed. Now in 50+ airports and other venues and trusted by millions of members, CLEAR is transforming how people live, work and travel. Products & Services: Airports/Border Control, Financial, Fingerprint, Iris Recognition

TypingDNA recognizes people by the way they type. Their mission is to improve online security without compromising user experience. The proprietary technology allows an outstanding matching accuracy working with one previous typing pattern sample. Products & Services: Behavioral Biometrics, Biometric Security, Financial, Logical Access Control.

The world’s leading provider of advanced, optical fingerprint technology, SECUGEN designs and develops FBI-certified fingerprint readers, sensors, and software, including NIST/MINEX-compliant algorithms. SECUGEN products are sold through an extensive network of reseller partners including OEMs, ISVs, and system integrators to world-leading financial, medical, government, educational and corporate institutions. Products and Services: Border/Airport Control, Financial & Transactional, Logical Access, Physical Access, Mobile, Fingerprint Readers.

Aware is a leading global provider of software products and solutions for biometric identification and authentication. They are used for variety of applications including financial services, enterprise security, border management, and law enforcement. Aware has the largest portfolio of biometric software products and solutions and a broad selection of biometric modalities. Products & services: Fingerprint Readers, Middleware / Software, Justice / Law Enforcement, Facial Recognition

FacePhi is a global leader in Facial Recognition technology. With a strong concentration in the financial sector, our product is rapidly becoming a service used by banks all over the world. Our technology enhances the client experience effortlessly by simply using the camera on their smartphone to take a selfie; this then becomes their method of identification and interaction with the bank’s mobile application.