Business technology solutions provider Equiniti has launched its own biometric authentication platform. Called Prequel, it’s based on Daon’s IdentityX platform.
Equiniti is offering Prequel as a mobile authentication system for financial services organizations, particularly as a solution for ‘Know Your Customer’ requirements. Like the USAA mobile app, which also used Daon’s IdentityX platform, Prequel will feature an authentication process based on face and voice recognition, leveraging hardware that now comes standard on most smartphones to enable secure biometric identification.
In a statement announcing the new system, Equiniti asserted that “[b]iometric technology lends itself perfectly to the banking industry” thanks to its convenience and security. Company executive Andy Edler added, “Biometric solutions that have been implemented recently show a reduction in fraud, improved customer satisfaction and increased brand loyalty due to a positive customer experience.”
Equiniti began to explore the potential of biometrics in earnest last autumn, when the company teamed up with Belfast’s Centre for Secure Information Technologies. The ensuing research has evidently led the company to Daon, a company that has been at the forefront of the ongoing biometrics boom in the financial services sector.
September 28, 2016 – by Alex Perala