Biometrics has become the stronger authentication solution that is inevitable in banking services because of the growing pace of technology adoption along with the unfortunate rise in security breaches.
FREMONT, CA: Banks and other financial institutions carry important information about the customers, and the attackers know it, so it important for banks and financial institutions to have robust security measures in place. The rapid digitization of banking services and the need to prevent identity theft and fraud has set the table for biometric identification technology to become an integral and strategic part of financial service security. Three biometric security methods that can assist banks in curbing risks are here.
Iris recognition technology involves scanning the eyes for security purposes. In the Iris authentication, the scanner takes an individual's iris image without any physical contact with the machine. It does not require any direct contact amongst the machine and user, making it under no conditions intrusive. This technology offers banks accurate image analysis or matching performance when associated with other biometric means. It is difficult to forge the iris impression as it is an internal non-touchable bodily part. Hence, Iris authentication determines to be safer and more dependable for banks.
Fingerprinting technology is a unique biometrics, as it is simple to install. It is reliable and comfortable to use also. Compared to other user authentication systems, such as iris scanners or facial recognition methods, fingerprint readers are more cost-effective too. Fingerprint-based time clock systems can generate payroll reports, eradicating the time and labor of manual tracking, and mitigating costly errors for financial institutions.
Voice recognition is a computer program with the ability to decode the human voice. It is reliant on the human voice and is a contactless, software-based technology that is considered among the most beneficial biometrics in banking. By measuring the sounds, a user makes while speaking, voice recognition software levels the unique biological factors. Voice recognition also empowers other biometric login solutions supporting banks to protect themselves with an added security layer.