The European Banking Authority has approved the use of typing biometrics as a secure component for multi-factor authentication. The decision places typing biometrics alongside other forms of biometric authentication that are inherent to the user, like fingerprint and voice recognition.
The news comes courtesy of TypingDNA, which used the opportunity to promote its own typing biometrics platform. TypingDNA noted that typing biometrics is an ideal solution for elderly banking customers who struggle with face or iris scans, as well as younger customers who would rather type than talk to someone over the phone.
The EBA’s decision allows financial organizations to deploy typing biometrics in solutions that are PSD2 compliant, adding a passive layer of behavioral security to financial interactions.
TypingDNA has been enjoying a strong 2019 campaign that began with $1.5 million in seed funding at the beginning of the year. The company has since upgraded its platform with one-time password functionality, and appointed a new Vice President of Sales in an effort to capitalize on the growing demand for behavioral biometrics technology.
More recently, TypingDNA formed a partnership with XTN Cognitive Security to safeguard the latter’s Smart Authentication solution and its Mobile Operative Risk Evaluator.
July 18, 2019 – by Eric Weiss