Blog

Biometrics – Evolving Multimodality in Mobile Banking

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December 5th, 2017

Today’s biometric banking arena is a multifaceted and complex space, especially when observed from the consumer touch-points. Branches, ATMs, call centers, online portals, and mobile apps all offer the biometric experience in terms of security and convenience, thanks to fingerprint, voice, vein pattern, iris, and behavioral recognition technologies. Indeed, as or the writing of this article, there are probably more biometric modalities available to banking customers than there are channels through which they can bank. But it wasn’t always this way. Read more…

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Researchers turn sonar on voice spoofers

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December 4th, 2017

A team of researchers at the State University of Florida in Tallahassee say sonar is the way to beat spoofing attacks on voice biometrics.Yang and his colleagues have devised a technology that detects and defeats such misuse of recordings.

Called VoiceGesture, it is able to not only recognise that a passphrase has been said but also sonar vibrations caused by the user. Read more…

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Malaysian bank integrates face, voice recognition into app

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December 1st, 2017

Malaysia’s MayBank has launched a facial and voice recognition security authentication service in the Maybank2u App.

In a statement, the bank said its “Face ID”, not related to the iPhone X, and “Voice ID” services will enable its customers to access their accounts and check their balances via the Maybank app, with any further transactions requiring login with passwords, thus enabling multi-factor authentication.  Read more…

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Sri Lankan Bank Uses biometrics incl voice for Authentication on Two New Apps

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November 30th, 2017

Daon‘s flagship biometric authentication platform is being used in another bank’s mobile banking app, this time in Sri Lanka: Nations Trust Bank has announced that the technology is being used for user authentication on two of its mobile apps.

One of them is Mobile Banking, a relatively straightforward mobile banking app designed to let Nations Trust Bank customers do things like pay bills, transfer funds, apply for loans, and so on. The other app, FriMi, is designed to be its own, 100 percent mobile banking service, with customers able to sign up online with no need to visit a branch. From there, they can send and receive money between other banks and even users who don’t have FriMi accounts. Read more…

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Samsung partners with Reuters on biometric authentication

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November 29th, 2017

Tech firm Samsung is partnering with Reuters on biometric authentication for the latter’s web services and mobile apps.

Thomson Reuters will implement Samsung SDS Nexsign, a FIDO certified biometric authentication solution, into several of Thomson Reuters mobile and web-based news solutions.

The companies successfully completed a PoC earlier this year and Thomson Reuters is now deploying Nexsign into production across additional applications in their portfolio. Read more…

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Know the Difference: Cloud Vs Localized Biometrics

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November 28th, 2017

When selecting a mobile biometric identity verification solution, you will have to make a decision about whether you want to move forward with a localized or cloud-based model.

What’s the better option?

In a localized biometrics setup, the biometric engine is stored in the hardware of the actual device itself. Some companies use localized biometrics if they are skeptical about trusting biometric data in the cloud. It’s also slightly faster, but only in nanoseconds. Read more…

 

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Study: Biometrics leading the way in banking

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November 27th, 2017

Gemalto’s latest e-Banking survey results have highlighted the willingness – and appetite – of end-users to use biometrics. local banks have an opportunity to move past passwords and mere transaction security and add real value by introducing biometrics according to Marwan Elnakat, Director Digital Banking Solutions for the CISMEA region at Gemalto.

In the local banking context where competition is increasing, authentication is a critical means of building customer loyalty and improving the overall brand experience – making the experience about far more than just logging-in and accessing your money. Read more…

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Five popular misconceptions that keep enterprises from turning to biometric authentication.

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November 24th, 2017

Now that the dust is settling from the Equifax breach and 140 million Americas have all frozen their credit (you have frozen it, haven’t you? If not, go here right now. We’ll wait.), it is time to ask the question, “Why haven’t we gotten rid of PINs and passwords by now???”

At Nuance, we have been moving companies to biometric authorization for years all the while showing how biometrics are more secure, make customers more satisfied and save money for the enterprise. I am proud to say that scores of companies are rolling out Nuance biometric authentication and we have yet to have a security breach where the data is compromised. Read more…

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Can biometric technology make our society more secure?

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November 23rd, 2017

With cyber crime rates still on the rise, the need for strong, reliable security systems has never been greater. This is particularly true within the business world; according to the UK government’s Cyber Security Breaches Survey 2017, 46pc of companies suffered a cyber breach in the past 12 months; and nearly three-quarters of UK businesses (74pc) now say that cyber security is a high priority for their senior management.

And it’s becoming clear that security systems that rely solely on passcodes are not enough. On average, each person now has to memorise between 25 and 150 passwords or codes – a shockingly high number that hardly seems sustainable. Read more…

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AI: The next frontier in banking and financial services

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November 22nd, 2017

Last month, two Australian financial services companies announced notable artificial intelligence initiatives. NAB rolled out the ‘virtual banker,’ a virtual assistant, which uses artificial intelligence (AI) to answer more than 200 questions that were previously handled by call centre staff. ANZ Bank also launched voice authentication technology on mobile, allowing customers to authorise funds transfers using voice biometrics.

The accelerating pace of digital change is set to disrupt every industry — none more so than the banking and financial services industry, given the sector’s high daily volume of commercial and retail transactions. In particular, AI is set to spur monumental change in value generation, as financial services companies expand their reach beyond traditional arsenals of price and product features. Now, we are experiencing an era of ‘hyper-personalisation,’ which requires powerful AI structures to underpin complex customer journeys and extract insights from mountains of customer data. Read more…

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