TOC Biometrics is showcasing its Approve app at this year’s Money20/20 Europe conference.
Available for iOS and Android, it’s a system that could have potentially broad applications. TOC Approve essentially acts as an independent verification mechanism for other businesses, apps, and so on. And it revolves around a simple concept: When a user needs to confirm her identity, she simply scans her fingerprint on her mobile device. That data is sent through TOC’s “trusted third party” system, which provides independent verification of the user.
Explaining the system and its potential uses in a statement, TOC CEO Ricardo Navarro said it “checks anyone’s ID with its corresponding fingerprint to perform operations such as bank transfers, ATM login or online purchases, in a 100% safe and efficient way,” adding that the data is not stored in any databases, helping to further ensure that it is secure.
As fingerprint authentication is increasingly used to govern user access to the sensitive data of bank accounts and mobile payment transactions, TOC Approve could prove to be an appealing solution for a range of companies looking for a simple and effective third-party authentication solution.
April 4, 2016 – by Alex Perala