A representative from biometrics specialist BioConnect is weighing in on last week’s Money20/20 expo in Las Vegas. Writing on the company’s blog, Bianca Lopes – the company’s VP Strategic Marketing and Global Alliances – says it was “the best show for financial services I have ever attended,” thanks in large part to the technologies showcased.
She also identifies three major themes of the show. One is the ongoing tension between traditional banks and cutting-edge technologies, with Lopes highlighting the importance of APIs in fostering innovative development for digital banking services. Another, related theme is concern about the security of these new technologies, with Lopes calling on banks to move beyond their archaic security architecture and calling on FinTech companies to work together to establish regulations. Indeed, the FIDO Alliance is starting to do just that, as indicated by its announcement that it will work with EMVCo to develop mPayment authentication standards.
But perhaps the biggest theme of the show revolved around authentication and biometrics. This was a breakout topic at last year’s Money20/20, and as Lopes asserts regarding this year’s show, “I continue to be amazed how now we are seeing this become more and more of a main stage hot topic.”
Copping to the “shameless plug”, Lopes notes that BioConnect’s biometrics-focused session with Visa was “extremely well attended”. But she also points to the case of the biometrics panel hosted by FindBiometrics President Peter O’Neill and featuring Mastercard’s Ajay Bhalla and other industry heavyweights. That event drew a sold-out crowd of about a thousand attendees, with fire marshals having to close the hall doors.
It was a huge reception, and one of many signs that biometric authentication continues to be an increasingly hot topic in the financial services industry.
November 2, 2016 – by Alex Perala