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Technology’s influence on compliance

Compliance was once viewed solely as a tool to ensure regulatory compliance, but it has quickly become an integral element of corporate culture. Much of this change in perspective is due to the advent of new technological solutions. For example, compliance was once a largely manual process that could take …

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The case for creating enriched digital identification processes

As the world heads toward an increasingly digitized economy, there are more and more choices for how individuals and businesses consume financial services. But in working toward this future and its seemingly inevitable integrated digital ecosystem, some important issues remain unresolved. Perhaps one of the most important is developing efficient …

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Are biometrics foolproof?

Biometrics has become a USD 14 billion industry, largely driven by the rise of biometric security in mobile technology. In fact, 57% of apps today feature a biometric login option, and many are now choosing biometrics as the way to verify their identities or approve payments. But is the safety …

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7 typical use cases for biometric technologies in the modern world

Biometrics takes advantage of the unique biological characteristics of people to identify and authenticate individuals in a reliable and fast way. Here are 7 typical use cases for biometric technologies that best exemplify the promise of biometrics: Law enforcement and public safety – an automated biometric identification system (ABIS) can …

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Digital identity predictions for 2020

A number of companies with biometric, digital identity and cybersecurity space have shared their digital identity predictions for 2020. Here are the top 4: The biometrics market will continue to grow. The growth forecasts in the latest set of market analyst reports indicate an increase in the widespread adoption of …

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Understanding the total cost of multi-factor authentication solutions

With technology constantly evolving, many organizations are choosing to deploy multi-factor authentication solutions rather than two-factor authentication solutions because of the increased protection it provides their business. Multi-factor authentication requires users to authenticate themselves with something that they have (e.g. a mobile device), something that they know (e.g. a PIN) …

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Biometric eKYC solutions on the rise throughout the Asia-Pacific

Fraud has been an increasing issue for many Asian-Pacific countries, leading many financial institutions in the region to seek out the merits of adopting technology-based solutions for identification, especially ones that also have the added benefit of enabling enrollment through faster, easier and lower-cost digital channels. In such a context, …

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How machine vision can transform financial services

Machine vision is slowly but surely making inroads in the financial sector, with many financial institutions already examining its potential to make life easier for both consumers and financial institutions themselves. Here are some the most important ways machine vision is likely to transform financial services:  Know-your-customer (KYC) processes – …

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Pay with a smile

Imagine the convenience of being able to go up to a kiosk and simply smiling to order and pay for your food. So-called “pay-with-a-smile technology” is not just the dream of science fiction authors, it has become reality for millions. From KFC locations in China to CaliBurger restaurants across California …

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5 major uses for biometrics in the banking industry

With biometric solutions all the rage, it’s only appropriate to also look at how biometric solutions can be applied to the banking industry. Here are 5 major banking uses for biometric solutions: Know your customer – one of the most significant on-boarding steps for financial institutions is to be able …

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Biometric mobile wallets: an inevitability?

Biometric solutions are infiltrating every aspect of our lives, and biometric mobile wallets (using face, fingerprint and/or retina scans as authorization mechanisms) seem more and more like an inevitability. As more and more people become comfortable with using their bodies as a means of identification, biometric payment solutions will also …

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The FinTech bubble is about to burst

We live in a world of challenger banks, with new ones seemingly rising to new heights overnight. With them has come a hype surrounding the new innovations they offer and the flashy new services they provide consumers. This so-called HypeTech is derided by many as holding back true FinTech advances, …

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A quick glance at Asia’s FinTech prospects

Asia, driven by fierce competition, has been a global leader in terms of FinTech adoption. Let’s take a look at 3 key trends expected to define FinTech in Asia over the coming years: China continues to be a leader. China is still the market setting the pace for FinTech innovation …

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The shift toward consumer-centric in 2020

2020 has just begun, but it already promises to be yet another dynamic year in the financial world. While many top trends of the past decade have been heavily concentrated on technology, cybersecurity and regulatory compliance, there is a noticeable shift toward consumer-centric solutions under way. Here are 3 of …

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12 Fintech Trends To Watch For In 2020

Many experts think that 2020 will become a year of greater changes and transformation in financial industry. Let’s have a look at the trends that are expected to disrupt banking and financial services this year and beyond.   Digital Payments Apple Pay, Google Pay, Samsung Pay and other systems have …

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Digital alternatives continue to threaten traditional banking players

By now, alternative banking service providers (e.g. PayPayl, Venmo, Square) are well-known players in the payment industry. Less known is how many of these companies are expanding into other banking areas. For example, PayPal is rapidly growing as a digital lending alternative, recently announcing that it had crossed the USD …

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New payment solutions putting legacy banking providers at risk

With the rise of new payment solutions such as Apple Card and Amazon Go, we are seeing a disintermediating (or de-coupling) or the traditional banking industry from the business of payments. With traditional financial institutions seemingly having issues in providing consumers with the payment solutions they really want (e.g. Chase …

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Facebook launching Facebook Pay payment system

Facebook has introduced Facebook Pay, a unified online payment system for Facebook, Instagram, Messenger and WhatsApp. Facebook Pay is designed to simplify transactions made through the sites while also ensuring that payment data is secured. The new payment service, which supports most payment cards and PayPal, will first be piloted …

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3 key payment trends for 2020

The payment industry continues to expand and evolve, with digital payment vehicles and transaction volumes growing across the globe. Experts anticipate that 2020 payment trends will push the development of payments even further. Here are 3 payment trends for 2020: Competition between closed and open payments platforms – there is …

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