New Biometric Banking Solution to Enter Pilot Trial in December

A new biometric authentication solution for mobile banking applications is about get go into a pilot test.

New Biometric Banking Solution to Enter Pilot Trial in DecemberThe solution, CardLok, comes from New York-based Ipsidy. It’s a multi-factor biometric authentication platform designed specifically for use by financial institutions. It’s going to be trialed this December by Miami-based Intercredit Bank, N.A., which will offer it to debit card clients.

Ipsidy has not yet revealed which biometric modalities are supported by its CardLok solution, but has indicated that it supports Android and iOS applications, suggesting at the very least that it leverages the fingerprint scanners that are now widespread across such devices.

The solution arrives at a time of both rising concern around digital security, and growing enthusiasm for biometric solutions. In a statement announcing the CardLok trial, Intercredit CEO Simon Cruz explained that “[i]dentity and cyber security are major issues in the financial services industry,” adding later that Ipsidy’s technology “offer our customers secure identity authentication that is easy to implement, enhances the Bank’s mobile banking offering and gives our customers a user-friendly experience and peace of mind.”

Intercredit is the first bank in the US to launch Ipsidy’s solution, and the companies say that it is expected to expand the use of CardLok after the initial trial with debit card customers.

November 16, 2017 – by Alex Perala