financial services

BIO-key Sees Trend Taking Shape with Latest Financial Services Clients

BIO-key Sees Trend Taking Shape with Latest Financial Services Clients

“Both financial services organizations have embraced BIO-key’s PIV Pro fingerprint readers and ID Director software for employee authentication, using the biometric technology to regulate access to sensitive IT assets.” BIO-key has two new clients in the financial services sector, and the company’s leadership believe it’s a sign of more good things to come. The company…

Verint Provides Anti-Fraud ID Solution for VyStar Credit Union

Verint Provides Anti-Fraud ID Solution for VyStar Credit Union

The Vystar Credit Union is upgrading its contact center security with Verint’s anti-fraud technology. The latter’s Identity Authentication and Fraud Detection platform uses behavioral biometrics and voice biometrics to analyze the speech and navigation patterns of people calling into the contact center and assess the validity of a call before it ever reaches a VyStar…

Unisys Study Highlights the Importance of Data Security for Hong Kong Banking Customers

Unisys Study Highlights the Importance of Data Security for Hong Kong Banking Customers

A new report from Unisys suggests that data security is crucial for Hong Kong banking customers. The regional study looked at people’s banking preferences in Australia, the Philippines, Australia, New Zealand, and Hong Kong, and found that the majority (61 percent) of those in Hong Kong cited safety as their primary criteria when searching for…

Jumio and Monzo Renew Award-Winning Partnership

Jumio and Monzo Renew Award-Winning Partnership

“As Monzo continues to grow, we know that Jumio will scale with our business, helping Monzo create the best-possible experience for our banking customers while fighting financial crime,. – Natasha Vernier, Head of Financial Crime, Monzo Jumio has renewed its award-winning partnership with Monzo. The two parties first teamed up back in 2017, with Jumio…

IDEX On Verge of Big Fingerprint Biometrics Deal with IT Provider

IDEX On Verge of Big Fingerprint Biometrics Deal with IT Provider

IDEX may have some big news in the pipeline: The company has announced that it expects to win a contract with a global IT solutions provider serving the financial services market. The deal hasn’t yet been finalized, but in a statement announcing the development IDEX was able to provide a few early details. The company…

New Board Member Brings Sage Experience in Financial Services to V2verify Board

New Board Member Brings Sage Experience in Financial Services to V2verify Board

Omaha-based voice biometrics specialist V2verify is welcoming a new Board member, and the appointment may signal a strengthening focus on the financial services sector. The new appointee, Grant Gregory, was a co-founder of DoubleClick Inc., a digital marketing agency that was acquired by Google in 2008. Perhaps more to the point, though, is that Gregory…

Unisys: Filipinos Trust Banks, but Remain Wary of Behavioral Biometrics

Unisys: Filipinos Trust Banks, but Remain Wary of Behavioral Biometrics

Unisys has released the results of its 2019 Asia Pacific Banking study, finding that customers in the Philippines place the most trust in banks as an institution. They also considered security to be the single most important factor when choosing where to bank. Digging into the numbers, 63 percent of respondents named security as a…

OneSpan: Most Financial Institutions Still Rely on Outdated Password Security

OneSpan: Most Financial Institutions Still Rely on Outdated Password Security

In recent years, more and more financial institutions have turned to biometric technology to improve security and customer service, incorporating solutions that range from voice banking software to facial recognition scans at ATMs. However, a new report from OneSpan suggests that it will take a considerable push to make the full transition to biometric authentication…

Alhamrani and ShoCard Team Up to Bring Biometric ATMs to Saudi Arabia

Alhamrani and ShoCard Team Up to Bring Biometric ATMs to Saudi Arabia

Alhamrani Universal is hoping to use blockchain and biometric technologies to eliminate the need for PIN entry at its ATMs. The company is Saudi Arabia’s largest provider of ATMs, and has announced a new partnership with ShoCard to introduce facial recognition software to verify user identities regardless of their chosen banking partner. “The ShoCard solution…

Japan’s Largest Bank Deploys Nok Nok Labs’ S3 Authentication Suite for Online Customers

Japan’s Largest Bank Deploys Nok Nok Labs’ S3 Authentication Suite for Online Customers

“Thanks to MUFG Bank’s embrace of Nok Nok Labs’ S3 Authentication Suite, customers can now access mobile services using biometric authentication on their Android and iOS devices.” Japan’s largest bank is now offering online customers enhanced authentication security thanks to Nok Nok Labs and its partner Hitachi. Thanks to MUFG Bank’s embrace of Nok Nok…

NEC Corporation Supplies Taiwanese Bank with Biometric ATMs

NEC Corporation Supplies Taiwanese Bank with Biometric ATMs

Taiwan’s E. Sun Commercial Bank is partnering with NEC Corporation to make ATM transactions more secure. The new ATMs are equipped with NEC’s NeoFace facial recognition technology, and can create a unique customer profile for anyone using the machine. So how does it work? When someone first inserts a cash card, the ATM will take…

BioCatch Explains How Behavioral Biometrics Reduces Friction in Digital Transactions

BioCatch Explains How Behavioral Biometrics Reduces Friction in Digital Transactions

Financial security is important. It can also be frustrating when a transaction gets declined while you’re using your own credit card. According to BioCatch, false declines – that is, legitimate transactions that are flagged as potentially fraudulent – have a footprint 13 times bigger than the cost of fraud itself, a number that reflects the…

Argus TrueID Announces the Acquisition of Biometric Identity Solutions

Argus TrueID Announces the Acquisition of Biometric Identity Solutions

Argus TrueID has announced the acquisition of another Australian biometric services provider. Queensland-based Biometric Identity Solutions is now under the Argus TrueID umbrella thanks to a deal that reflects Argus’s current mergers and acquisitions strategy. Argus TrueID provides identity and security solutions for industries ranging from banking to criminal justice. It is also one of…

BioCatch Explains How Behavioral Biometrics Can Stop Vishing Fraud

BioCatch Explains How Behavioral Biometrics Can Stop Vishing Fraud

These days, voice phishing – or vishing – is an increasingly lucrative scam. It’s also becoming more difficult to identify. Successful scammers are able to pose as a legitimate representative of an organization like a government or a bank, right down to the phone number and company logo in the call log. Thankfully, behavioral biometrics…

Nuance Gets Another Bank Deployment for Voice Authentication Tech

Nuance Gets Another Bank Deployment for Voice Authentication Tech

“Once a customer has registered their voice into the system, the technology can match their voice on a live call to the biometric profile on file.” Nuance Communications has snagged another bank deployment for its voice biometrics technology. Its latest client is Kennebunk Savings, a community bank located primarily in Maine and with $1.25 billion…

Year in Review: Banking’s Branchless Future

Year in Review: Banking’s Branchless Future

Physical banks aren’t going anywhere anytime soon, but they are clearly becoming less necessary as more financial services business is conducted online and through mobile devices. And with that trend in mind, one of the more forward-looking results of the 2018 FindBiometrics Year in Review survey makes a lot of sense. Question 15 of the…

Canadian Bankers Association Calling for National Digital ID

Canadian Bankers Association Calling for National Digital ID

The Canadian banking sector’s leading business association is calling for the creation of a digital identity system for use in the nation’s financial services. Founded toward the end of 1891, the Canadian Bankers Association is an integral position in the discourse between the country’s banks and government authorities. And it has published a new video…

Year in Review: The Top Applications for Biometrics in 2018

Year in Review: The Top Applications for Biometrics in 2018

People in the biometrics industry were really into FinTech last year, suggest the results to the second question of FindBiometrics’ Year in Review survey for 2018. The question asked, “Which of the following areas of application for biometrics has been the most interesting to you in 2018?” and listed answers such as “Healthcare”, “Border Control”,…

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