The Internet of Things will allow us to share more information at faster speeds on whatever device happens to be most convenient at the time.
However, that convenience also comes with risk. When everything is connected to the internet, the security of the network is only as strong as its weakest link. Sure, your smartphone might have a fingerprint sensor, but it’s not going to help you much if a hacker can access your bank account through your refrigerator.
Biometric authentication technology offers a solution to the problem. In the first in a series of blog posts dedicated to the Internet of Things, IDEX Biometrics CFO Henrik Knudtzon explains there’s currently no way to replicate biometric identifiers like fingerprints that are unique to the user, making them much more effective than vulnerable PINs and passwords.
“The safety of the IoT relies on the safety of all its components. This means that every device connected in the grand network of the IoT must be as secure as possible,” writes Knudtzon. “Only when all vulnerabilities are protected will the IoT be completely safe.”
Right now, only a relatively small number of industries have adopted biometric authentication. Getting every tech manufacturer to adopt those standards will make the IoT safer and ensure that every financial transaction is as safe as possible.
In a previous blog series, IDEX explained how biometric authentication can make banking more inclusive, especially as it relates to biometric payment cards. The company is expecting major growth in that market in 2019.
March 19, 2019 – by Eric Weiss