We are less than three months away from the second annual Biometrics UnPlugged event and, in preparation, findBIOMETRICS will be spending the whole summer building up to the gathering of identity industry trailblazers.
The topic for this year is Mobility at the Crossroads of Commerce and Privacy and as such, July will focus on the topic of next generation commerce. Welcome to the Road to Biometrics UnPlugged 2014!
Let’s start by reducing the topic of commerce and biometrics down to its most fundamental aspects. Strong authentication, in finance, inevitably boils down to fraud protection. Are people accessing accounts, making transactions or providing services who they say they are? A card number, a password or PIN and some biographical information are all that is needed to pretend to be someone else in the world of online shopping and banking. All it comes down to is “what you know” and occasionally “what you have.”
But that is all changing thanks to biometrics. By bringing an element of “who you are” into the financial world not only do online transactions become more accountable and secure, but there stands a potential to bring banking to the underserved billions of the world and provide enough trust for the financial industry to embrace a workable BYOD policy.
The articles listed here will give you an idea of what sort of biometric deployments we are seeing in finance, and some ways that strong authentication is changing the way we interact with money:
In terms of the actual scanning of biological features, there doesn’t seem to be any biometric modality that can’t find its way into the realm of biometric payments, banking and general accountability. Again, when it comes down to the moment of authentication, the thing that really matters is that you are who you claim to be, not which body part you’d like to submit.
The following links will provide you with an idea of the wide variety of biometric solution types that have already found a home in the financial industry:
Money and Mobility
The effect that mobility is having on the strong authentication world can’t be understated (it’s the very basis for Biometrics UnPlugged), and that impact carries over prominently to financial markets.
The following articles will provide you with some highlights regarding the intersection of mobility, commerce and biometrics:
What We Talk About When We Talk About Biometrics and Finance
As usual, there really is nothing better to illustrate current ideas in a market than hearing from the people who live and breath it on a daily basis.
Here are some interviews and webinars that have their vital sensors on the pulse of biometrics and commerce:
Webinar: The Password is Dead!
Stick with findBIOMETRICS all summer as we, along with our sister site Mobile ID World, get ready to take the next big step in these discussions. Be sure to follow us on Twitter and get the conversation started in preparation for September by using the hashtag #Road2BUP.
July 2, 2014 – by Peter B. Counter