• 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
  • [*MORE* SPEAKERS ANNOUNCED] Join KLM Royal Dutch Airlines and the Cleveland Browns at the May 18 Virtual Identity Summit[*MORE* SPEAKERS ANNOUNCED] Join KLM Royal Dutch Airlines and the Cleveland Browns at the May 18 Virtual Identity Summit
  • New Sponsors Announced: Discover the Frictionless Future of Air Travel, Hospitality and More at FindBiometrics’ Next Virtual EventNew Sponsors Announced: Discover the Frictionless Future of Air Travel, Hospitality and More at FindBiometrics’ Next Virtual Event
  • ID Talk at ISC West 2022: SIA’s Jake Parker on Facial Recognition Privacy Legislation and the Security IndustryID Talk at ISC West 2022: SIA’s Jake Parker on Facial Recognition Privacy Legislation and the Security Industry

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

Join Us For Our Next Virtual Event:

Travel & Hospitality Biometrics Online Summit
Register now!

Sponsored Links

TECH5 showcase 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

cmitech logo

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.

Onfido logo

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

ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark’s AI-powered technology and behavioral biometrics to build secured banking experience to precisely verify their legitimate users, seamlessly across all digital channels. All while securing the users’ most precious assets and keeping the fraudsters away. Learn more: www.threatmark.com/

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

  • American Green Consolidates Business With Acquisition of Biometric Vending Machines Maker
  • Police and Industry Lobbyists Push Back Against Facial Recognition Bans
  • New FAST Survey Will Measure Compensation of Security Industry Professionals
  • French Senators Put Forward New Facial Recognition Guidelines
  • Miami Airport to See US’s Largest-ever Biometric Boarding Deployment

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 © 2022 FindBiometrics