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Tag Archives: Identification

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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2020 predictions for biometrics and digital identity

There are few more exciting topics in 2020 than biometrics and digital identity. That being said, here are 4 predictions on the topic for 2020: Series players will emerge to offer digital identity as a service. 2020 will be the year of the single digital identity. Serious industry players will …

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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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BFC FinTech Monitor 20th – 27th February

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor and telegram channel FinTech Wave. Around the World: In 2019, FinTech startups attracted a total of USD 34.5 billion in investments (1,913 total transactions). Nearly half of this amount (USD …

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An overview of biometrics in the former Soviet Union

How are financial institutions in the former Soviet Union using biometrics? Are investments made into these solutions always justified? This short overview will get you up-to-date. Russia: Leading Russian developers are currently implementing the Unified Biometric System project, which is being led by biometric specialists who have strong experience in …

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Snapshot of biometrics across the world

Biometric identification has finally advanced to the point where it is starting to radically change the way we interact with the world, making life more convenient for users and helping businesses reduce costs, shorten customer service time, increase security, optimize business processes and, ultimately, increase profits. Here’s a quick look …

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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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BFC FinTech Monitor 13th-20th February

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor and in the telegram channel FinTech Wave.   Around the World: Analysts with Juniper Research predict that the volume of contactless payments will triple within just 4 years’ time. …

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A brave new world of biometrics

The use of biometric solutions is becoming increasingly popular with retailers, financial institutions and consumers due to the convenience and security they offer. Given the biometric world that appears to be in our not-too-distant future, the editors of BFC’s FinTech Bulletin and the telegram channel FinTech Wave put together this …

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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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Video: how secure is biometric authentication technology?

Security for important areas and sensitive information has been a continuous struggle for much of human history. With the rise of biometrics however, we may have stumbled onto the best possible security device of all – ourselves. But just how secure are biometric solutions? Our friends at DW Shift explore …

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Video: China facing a new payment technology

China has been an early adopter of modern payment solutions, with its mobile payment infrastructure being one of the most advanced in the world. Now, the digitally-savvy country is moving on and installing facial payment technology. Take a look at the future of payments in the short, insightful video. Video: …

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Infographic: 10 biometric examples reshaping our world

Biometrics is a buzzword flying around the world today. Here’s a glimpse of 10 major uses of biometrics that are reshaping the world we live in and ushering in the biometric revolution. 3 Reasons to Build with Blockchain Video: 2020 payment trends The rise of biometric bank cards

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Video: the business of biometrics

Biometrics is becoming big business as its use continues to expand. But in giving away some of our most sensitive data, we are opening ourselves up to potential crimes, discrimination and even mass surveillance. In this illuminating TEDx Talk, Madhumita Murgia chronicles the rising use of biological data and its …

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