Biometrics specialists have a new opportunity to raise their profiles in the industry and in the financial services sector in particular, thanks to a newly announced Juniper Research awards program.
Dubbed “Future Digital Awards for Fintech & Payments 2022”, the awards program encompasses a number of overarching awards programs, including “Banking Innovation”, “Fintech Innovation”, “Fraud & Security Innovation”, “Retail Innovation”, “Fraud & Security Innovation”, and “Judges’ Choice”. The penultimate in that list includes a couple of categories that will be of interest to biometrics specialists, most notably “AI in Fraud Prevention Innovation”, “Fraud Detection and Prevention Platform”, “Fraud & Security Innovation of the Year”, and “Best Biometrics Use in Payments”.
These are areas in which the use of biometrics has flourished in recent years. Selfie-based onboarding and authentication solutions have proven especially popular, and a growing number of organizations have been adopting behavioral biometrics solutions to detect anomalous user activity that may signal fraud.
For its part, Juniper Research has been bullish on biometrics in its analyses of industry and market trends. Last spring, for example, the firm predicted that the number of consumers making payments using facial recognition would grow from 671 million in 2020 to 1.4 billion by 2025. More recently, in a report published this past May, Juniper forecast that the number of remote mobile payments authorized using biometrics would rise to 39.5 billion by 2027, an increase of 383 percent over current figures.
The firm’s Future Digital Awards program has been running since 2008, and is aimed at recognizing companies that have developed innovative and disruptive solutions for their ecosystems. For the latest round, Juniper will be accepting entries until August 26th. Those will be assessed by a panel of expert analysts, and the awards themselves will be announced on October 4.
Interested parties can apply for the awards through the firm’s website.
July 1, 2022 – by Alex Perala