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Will Biometrics Usher in a New Era in Banking


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Account security is paramount to banks. Despite taking several precautions and beefing up security levels, there have been many instances of security breaches. Biometrics is seriously being considered as a viable option to meet these security threats. Biometrics - unique to each individual - when layered with another authentication factor (such as One-Time Password, etc.) can become a potent mechanism to protect individual accounts from getting hacked. Learn more in this presentation.

Published in: Technology
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Will Biometrics Usher in a New Era in Banking

  1. 1. Will Biometrics Usher in a New Era in Banking?
  2. 2. In an era where virtual banking is the norm, user security is paramount for banks owing to cyber threats
  3. 3. While banks offer several security measures – for instance, physical keyboards can be replaced with virtual keyboards while logging in…
  4. 4. Banks have provisioned two-factor authentication to improve user security.
  5. 5. And yet, user security gets compromised many a times. Since many users find remembering bank account related information cumbersome… …such users note down confidential information on a piece of paper exposing themselves to further risks…
  6. 6. In order to overcome these challenges, banks are increasingly inclined to biometrics..
  7. 7. Biometrics recognize individuals by their unique physical characteristics. These include: A. Facial Recognition
  8. 8. B. Iris Recognition
  9. 9. C. Fingerprint Recognition
  10. 10. D. Finger-vein Recognition
  11. 11. E. Key-tap recognition
  12. 12. F. Heart-beat Recognition
  13. 13. G. Voice Recognition While external biometrics such as fingerprint is relatively easier to replicate, internal metrics such as heartbeat and finger vein are almost impossible to replicate making these near failproof.
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