Will Biometrics Usher in a New Era in Banking?

In an era where virtual banking is the norm, user

security is paramount for banks owing to cyber threats

While banks offer several security measures – for

instance, physical keyboards can be replaced with virtual

keyboards while logging in…

Banks have provisioned two-factor

authentication to improve user security.

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…

In order to overcome these challenges, banks

are increasingly inclined to biometrics..

Biometrics recognize individuals by their unique

physical characteristics. These include:

A. Facial Recognition

B. Iris Recognition

C. Fingerprint Recognition

D. Finger-vein Recognition

E. Key-tap recognition

F. Heart-beat Recognition

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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