One Vault News

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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Mobile Payment Forum of India to intro voice authentication

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November 21st, 2017

The Mobile Payment Forum of India (MPFI), a think tank, is looking to introduce several new user-friendly features such as voice biometrics authentication, according to a report by The Economic Times.

As part of a joint initiative of the Institute for Development and Research in Banking Technology, Hyderabad and Rural Technology Business Incubator, IIT Madras, the think tank strives “to enable mobile payments and financial services through secure, efficient and low-cost transactions.”

MPFI helped develop interoperability and security standards for Immediate Payment Service (IMPS), the basic platform for mobile payments, which would later be used to establish Unified Payments Interface (UPI). Read more…

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Report finds 63% of consumers willing to use biometric authentication

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November 20th, 2017

Worldpay has published a new report on consumer habits that finds that shoppers are becoming more comfortable using biometrics to pay when shopping, with fingerprint payments leading the way as the most popular biometric identification method, according to a report by ComputerWeekly.com.

The study found that 63 percent of consumers want to be able to use biometrically authenticated payments when shopping, while 69 percent said they would be most open to using fingerprint recognition.

Apple announced recently that its newer phones would introduce facial recognition as a means of identification and authentication. Read more…

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Why Alexa Won’t Replace Call Center Agents (Just Yet)

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November 17th, 2017

Remember how Barbie — at first just a popular doll with pretty hair and clothes — eventually became a teacher, gymnast, veterinarian, astronaut, paratrooper, NASCAR driver, business executive and even President of the United States?

Amazon’s Alexa has been building a similar resume, adding well over 15,000 skills to its voice-activated repertoire — a 50 percent increase just from February to July of 2017.

Last November, Amazon introduced the world to Lex, the artificial intelligence service that powers voice and text conversations for Alexa. In the spring, Lex became available to all developers who wished to include a voice assistant chat feature in their mobile apps. Read more…

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Human Rights Watch raises privacy concerns over Chinese voice recognition program

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November 16th, 2017

China’s government is collecting “voice pattern” samples from its citizens to build a database for use with voice recognition technology, Human Rights Watch (HRW) announced in a fascinating article published Sunday.

In collaboration with Chinese company iFlytek, which HRW says makes 80 percent of the country’s speech recognition technology, China’s Ministry of Public Security is working on a pilot project to identify the voices of targeted individuals in telephone conversations. Read more…

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Researchers using wearables to increase voice authentication security

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November 15th, 2017

Researchers at the University of Michigan have developed new technique that allows wearables — such as a security-token necklace, ear buds or eyeglasses — to be used to eliminate vulnerabilities in voice authentication, according to a report by Phys.org.

Researchers call sound an “open channel” that can be easily duplicated by novice impersonators and skilled hackers alike.

“Increasingly, voice is being used as a security feature but it actually has huge holes in it,” said Kang Shin, the Kevin and Nancy O’Connor Professor of Computer Science and professor of electrical engineering and computer science at the University of Michigan. “If a system is using only your voice signature, it can be very dangerous. We believe you have to have a second channel to authenticate the owner of the voice.” Read more…

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