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.
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
Ipsidy Inc. is a provider of secure, biometric identification, identity management and electronic transaction processing services. Our identity transaction platform creates a trusted transaction, embedding authenticated identity and event details with a digital signature and using a participant’s mobile device to approve everyday transactions. Products & Services: Facial Recognition, Biometric Security, Mobile Biometrics, Financial
At Sterling Identity, we believe that capturing your fingerprints can be convenient, safe, secure, and fast. Backed by nearly two decades of experience, we redesigned the electronic fingerprinting process to create the best possible customer experience. With over 800 collection stations covering all 50 states and DC, we are one of the largest fingerprinting networks in the country, and our state-of-the-art technology provides the simplest interface with best-in-class security. We have the best team in the industry, providing the best support and experience possible for our valued customers. Products & Services: Fingerprint Readers, Hand Readers & Finger Scanners, Financial, Logical Access
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.
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.
Voice Biometrics Group™ (VBG) is a leading provider of voice biometric identification and verification software, delivery systems, and related consulting services. Companies use VBG’s technology to verify and protect their customers and detect fraud using the unique characteristics of spoken voice. Products & services: Biometric Security, Voice and Speech Recognition, Middleware and Software, Financial.
Enabled by its patented NEXT Active Thermal principle, NEXT Biometrics (www.nextbiometrics.com) offers high quality area fingerprint sensors at a fraction of the prices of comparable competitors. A wide range of product formats including Smartphones, Tablets, PC’s, Doors, Time registration systems, Wearables, Payment terminals, Flashdrives, USB-tokens, Key fobs and many more are targeted. Products & Services: Financial, Mobile Biometrics, Physical Access Control, Biometric Sensors & Detectors, Fingerprint Readers, Smart Cards
IDEX Biometrics, legal name IDEX ASA (OSE: IDEX), is the leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast-growing multi-billion-unit opportunity. Products and Services: Fingerprint, Smart Cards, Access Control, Financial, Healthcare, Mobile.
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.
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.
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.
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
FaceTec’s patented, class-leading 3D face authentication software, ZoOm®, anchors the chain of trust for mobile and web applications requiring certified, high-performance liveness detection. Leveraging decades of experience in computer vision, artificial intelligence and advanced biometrics, ZoOm is fast becoming the global standard in onboarding, KYC and identity access management solutions. For more information visit https://zoomlogin.com. Products & Services: Facial Recognition, Financial, Healthcare, Mobile
Biometric Signature ID’s patented biometric password uses gesture biometric technology for identity verification online. This smart software offers the highest level of security on the market today without hardware or downloads. The secret is drawing your password, not typing it.Users draw 4 characters with mouse or finger to log in with multi-factor authentication assurance. Login takes just seconds. Products & Services: Biometric Security, Behavioral Biometrics, Financial, 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
Paravision provides face recognition SDKs for enterprises and system & device integrators who need mission-critical face recognition that excels at accuracy, provides superior levels of security, and can be deployed in any environment. Ever AI’s face recognition algorithm excels across challenging scenarios including light & angle variability, blur & pixelation, racial and ethnic diversity, and occlusions. Products & Services: Facial Recognition, Financial, Consumer/Residential, Biometric Security
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people’s identity. We develop and sell fingerprint software and mobile smart card readers that provide the market’s best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world. Products & Services: Fingerprint, Mobility, Smart Cards, Financial, Middleware/Software
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
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.
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
Biocryptology® is a disruptive biometric-based authentication technology. The name references this platform’s high-quality encryption algorithm, which is combined with unique biometric identification and (in the case of the Swipe ID device) anti-tampering mechanisms to keep all ID verification and electronic transactions completely secure. Products & Services: Fingerprint, Financial, Logical Access, Mobile, Physical Access
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
Aware provides COTS, standards-based biometrics software for law enforcement, border management, defense, credentialing, and access control. Each product provides granular functionality and is available a la carte:
- SDKs for fingerprint, face, and iris
- Capture device hardware abstraction
- Image quality assurance
- Standard-compliant data formatting and validation
- BioComponents™ enrollment applets and controls
- URC™ .NET biometric enrollment application
- WebEnroll™ browser-based biometric enrollment
- Biometric Services Platform (BioSP™)
- Nexa™ fingerprint, face, and iris search and match SDKs
- INQUIRE™ identity data analytics SDK
Products & services: Fingerprint Readers, Middleware / Software, Justice / Law Enforcement, Facial Recognition
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
Sensory, Inc. creates a safer and superior UX through vision and voice technologies. Sensory’s technology is widely deployed in consumer electronics applications including mobile phones, automotive, wearables, toys, IoT and various home electronics. With its TrulyHandsfree™ voice control, Sensory has set the standard for mobile handset platforms’ ultra-low power “always listening” touchless control. Sensory’s TrulySecure™ is changing the authentication landscape with highly accurate voice and facial biometric fusion. To date, Sensory’s technologies have shipped in over half a billion units of leading consumer products. Visit Sensory at www.sensory.com
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.
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.