• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Financial Advisor Platform Gets Biometric Security

September 4, 2020

U.K.-based financial services company BNY Mellon Pershing has announced that it has added biometric authentication to its NetX360 desktop software for its advisors, compatible initially for iOS devices, with support for Android coming some time in 2021.

Financial Advisor Platform Gets Biometric Security

The move to touchless and passwordless authentication comes at a time where the popularity of the solutions is growing globally, due in part to the fact that biometric authentication is considered more secure than the traditional PIN/password methods, and also as a result of the COVID-19 outbreak that has forced a rise in remote banking for both clients and advisors that requires safer remote authentication options.

For its part, Pershing is highlighting the increased security of biometrics and the convenience of no longer having to remember and rely upon passwords, something that experts have long pointed to as a leading cause of cyber-attacks and compromised accounts.

“This moves [advisors] away from having to remember all the time what their password is and type it into their desktop,” said Pershing directory of technology and client engagement, Michelle Feinstein.

In order to enable the new biometric features, advisors still need to use a secure password to access the app and select biometric authentication. They then will receive a link sent to their mobile device that will ask them to authenticate using either fingerprint or face biometrics, depending on the capabilities of the device they are using.

For added security, users will also be required to change their ‘core’ password every 60 days.

Feinstein adds that Pershing has a lot of confidence in the growth of biometrics for authentication, and that the firm is planning on going beyond using it for logins, implementing it for other processes like client authentication when moving money.

Pershing’s client portal has supported fingerprint and facial recognition for authentication for some time already, though this latest news marks the first time the firm has introduced the option for its advisor portal.

As Financial Planning notes, there appears to be a growing trend of biometrics being used to help advisors securely conduct their business remotely. Fidelity Institutional has plans to add the feature to its Wealthscape Investor portal for advisors, while Cetera Financial Group unveiled plans that will see facial recognition used to analyze client emotions when filling out advisors’ questionnaires.

“You’re starting to see different major players think about how they can move towards a password-less experience,” Feinstein says. “This is one step forward towards that. In the future, I think we can get there.”

Source: Financial Planning

–

September 3, 2020 – by Tony Bitzionis

Related News

  • Take the FindBiometrics Year in Review 2021 SurveyTake the FindBiometrics Year in Review 2021 Survey
  • Biometric Banking on the Rise Thanks to COVID-19: Citibank TaiwanBiometric Banking on the Rise Thanks to COVID-19: Citibank Taiwan
  • Online Education Platform Adds Biometric Authentication OptionOnline Education Platform Adds Biometric Authentication Option
  • This Fall Join FindBiometrics for Our Finance and Enterprise Biometrics Identity SummitsThis Fall Join FindBiometrics for Our Finance and Enterprise Biometrics Identity Summits
  • Aware Brings Knomi to ID4AfricaAware Brings Knomi to ID4Africa
  • [Sessions Added] REPLAY: Travel & Hospitality Virtual Identity Summit[Sessions Added] REPLAY: Travel & Hospitality Virtual Identity Summit

Filed Under: News Tagged With: behavioral biometrics, Biometric, biometric authentication, biometrics, COVID-19, face biometrics, facial biometrics, fingerprint biometrics, passwordless authentication, passwords, remote authentication

Primary Sidebar

Want To Deploy Biometric Access? Download This First:

The resources in this bundle will give you the know-how to choose the right biometric access for your organization.

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • FaceTec Ups the Ante, Triples Spoof Bounty Prize to $600,000
  • Veridos Acquires Serbia-based Identity Management Specialist NetSeT
  • FindBiometrics and Acuity Market Intelligence to Unveil Biometric Digital Identity Prism at Feb 15 Virtual Event
  • Facial Recognition in Policing, COVID Screening, and Consumer Tech: Identity News Digest
  • Police Biometrics, a Data Breach, and Card-focused Partnerships – Identity News Digest

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics