EyeVerify Sees Increasing Role for Biometrics in Financial Services

“With more than 50 financial institutions having taken advantage of Eyeprint ID last year, the company says its eye vein-based mobile authentication platform represents ‘the most-integrated software biometric for mobile banking authentication.'”

EyeVerify is predicting a big year for biometrics in the financial services sector.

EyeVerify Sees Increasing Role for Biometrics in Financial ServicesIn a new blog post, the company forecasts that 2017 will see banks move beyond using biometrics for login to using the technology more sensitive activities like withdrawing from ATMs or making payments. It’s sound reasoning, given the rise of biometric authentication in transaction verification on services like Apple Pay and Samsung Pay.

The company’s second prediction is that multimodal biometric security will become more prevalent, particularly as more phones start to feature support for multiple modalities. With Samsung expected to start supporting iris scanning, in addition to fingerprint scanning, on Samsung Pay, there is good reason to expect such a development.

That would all be good news for EyeVerify, of course. With more than 50 financial institutions having taken advantage of Eyeprint ID last year, the company says its eye vein-based mobile authentication platform represents “the most-integrated software biometric for mobile banking authentication.” It could prove even more popular as more financial organizations look for easy-to-implement biometric security solutions.

January 30, 2017 – by Alex Perala