Financial Biometrics Month 2017: The Roundup

November is coming to an end, and with it we must close out Financial Biometrics Month 2017. Presented on the heels of Money20/20 USA, which featured a greater biometrics presence than ever before, Financial Biometrics Month served as a platform to mark the accelerated evolution of strong authentication and FinTech.

Here’s a look back on the highlights from Financial Biometrics Month 2017:

Starting off Right

Money20/20 is the perfect starting point for in-depth discussions of biometrics in FinTech. This year, FindBiometrics reported live from the show floor in Las Vegas, with audio interviews, keynote and announcement coverage, and our annual biometrics panel that has become a staple of the conference. Of course, biometric finance is more than simply a show, it’s a major vertical market that has been driving the evolution and adoption of biometric technology for years. That’s why on our return from Las Vegas we published a biometric FinTech primer covering everything you need to know about financial ID before diving deep into November’s featured focus.

Financial Biometrics Month 2017: The Primer

Financial ID Briefing: Biometrics at Money20/20

FindBiometrics and Money20/20 Announce Premier Partnership

Smart Card Commerce

One of the strongest trends in 2017 has been the advent of the biometric payment card. Now that we’re reaching year’s end, and financial institutions are preparing to roll out the next big thing in convenience and secure transactions, the space is heating up like never before. Shipments of fingerprint-sensor-sporting smart cards are underway while new innovations are addressing adoption obstacles, paving the way for 2018’s credit card comeback.

For Financial Biometrics Month we took the time to trace the fingerprint-powered comeback of plastic payments, while our industry news was filled to the brim with new smart card happenings. Take a look:

Financial Biometrics Month 2017: The Fingerprint-Powered Comeback of Plastic Payments

Tactilis Smart Card Shipping With NEXT Biometrics Tech

Feitian’s Biometric Smart Card Uses IDEX Fingerprint Sensor

IDEX Solution Allows For Self-Service Biometric Smart Card Enrollment

IDEX Announces Expansion of Partnership with IDEMIA

IDEMIA’s F-Code Solution To Use FPC’s T-Shape Fingerprint Sensor Module

The F-Code Biometric Credit Card is Coming to Japan

Mega-Multimodality

In a similar manner to how fingerprint-powered smart cards blew up in 2017, behavioral biometrics emerged as a major modality in financial services this year. For Financial Biometrics Month we shed a spotlight on how behavioral biometrics are the next logical step in mobile and online banking, placing them in a long tradition of multimodality in that sector. Find the featured article below, along with some multimodal banking highlights from November’s news coverage:

Financial Biometrics Month 2017: Evolving Multimodality in Mobile Banking

BioCatch Shows How Behavioral Biometrics Work With Nexsign

Nations Trust Bank Uses Daon’s Biometric Tech In Two New Apps

Payment Options

Payments are biometrics’ killer app in terms of mainstream adoption. Nothing gets consumers scanning fingers, faces, and irises like being able to make easy and secure purchases. While the channel for payments began relatively simply in the initial days of Apple Pay, the landscape developed over recent years into a complex arena that favors diversity and user choice. For Financial Biometrics Month we looked at four completely different ways to pay with biometrics that perfectly illustrate just how robust the consumer-facing FinTech space has become thanks to the widespread availability of strong authentication. Read our featured article below, as well as some of November’s top news stories dealing with new ways to pay via biometry:

Financial Biometrics Month 2017: Four Ways To Pay With Biometrics

UnionPay Showcases Face-Based Naked Payments System at SFF 2017

UK Supermarkets to Trial Digital ID App at Self-Service Lanes

Smart Vending Machines to Incorporate EyeLock Iris Scanning Tech

The Evolution of Biometrics and Money

The theme of Financial Biometrics Month was evolution, and that’s why we centered November around our latest expert webinar: The Evolution of Biometrics and Money. The hour long webcast began with a review of the biggest FinTech biometrics news out of Money20/20 before Maxine Most, Principal at Acuity Market Intelligence, presented her firm’s latest guidance. Acuity’s research set the stage for a dynamic discussion of biometrics and identity in the financial space featuring expert panelists: Bianca Lopes, Chief Identity Officer, BioConnect; Frances Zelazny, VP Marketing, BioCatch; and Sanjib Kalita, Chief Marketing Officer, Money20/20.

A recording of the webinar is now available to watch at the following link:

WATCH: The Evolution of Money and Biometrics

*

Stay posted to FindBiometrics in December as we rev up our 2017 Year in Review. Participate in the 15 year industry tradition by taking our short survey.

Financial Biometrics Month 2017 is made possible by our sponsors BioConnect and BioCatch.

—

November 30, 2017 – by Peter B. Counter

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai