“This will help the bank to detect potential duplicate accounts in its databases, and will allow registered customers to easily authenticate on subsequent visits to the bank when they’re seeking to perform actions such as applying for a loan or a replacement bank card.” As it continues to expand in the industry, biometric security is…
This week saw a significant portion of the biometrics industry flock to Las Vegas for the annual Money20/20 USA financial services conference. That’s because biometric technology has played an increasingly important role in the financial services industry over the last several years; and in keeping with the trend, there was a lot of chatter about…
“…just as younger consumers tend to show a higher preference for mobile banking, those in the 18-34 age range tend to prefer using the biometric authentication capabilities of those devices, whereas older survey respondents showed more of a preference for security questions.” Customers are increasingly accessing financial services on mobile devices, and providers need to…
The rise of the smartphone has been transformative in a number of profound ways. Just as pedestrians in the early 20th century couldn’t have imagined the preponderance of cars that would soon clog their streets, in the 21st century we’ve moved from landlines and answering machines to a smartphone in every pocket (not to mention…
Money20/20 organizers have officially announced the return of their China-based event. First launched last year, Money20/20 China drew a crowd of over 2000 professionals from 53 countries. Now, organizers say that Money20/20 2019 will have capacity for more than 2500 people, and will feature over 300 speakers. Organizers have also revealed an ambitiously wide-ranging slate…
Biometrics News – Financial Services NEC XON has released a self-service biometric kiosk that automates the distribution of SIM and bank cards. Developed in collaboration with Wavetec, the kiosk is essentially an ATM that gathers people’s personal information before dispensing a new bank card. The kiosk is built with NEC software and is able to…
Biometrics News The Bank of Thailand (BoT) has announced that it is moving forward with a test of biometric Know Your Customer (KYC) technology. The test will involve ten separate organizations, including commercial banks and other non-bank financial institutions. The test itself will not begin until some unspecified technical issues have been resolved, although Bank…
Pennsylvania’s Merck Sharp & Dohme Federal Credit Union is now using biometric technology from Fiserv to authenticate both customers and employees. There are three particular product solutions in play. Verifast Branch is being used to authenticate credit union members; Verifast SSO is the authentication solution used by Merck Sharp & Dohme employees for internal computer…