Financial ID Briefing: Money Talks Down Under

The Financial ID Briefing brings you top highlights from the world of biometrics, mobile ID and finance. It is powered by FindBiometrics and Money20/20.

Samsung Pay Launches in UAE

Samsung Pay has come to the United Arab Emirates. Initially arriving via an early access program, Mastercard quickly announced its support for Samsung’s contactless mobile wallet in the region. As a mobile payments solution, Samsung Pay is notable for its biometric security features. Initially launching with fingerprint sensor support for transaction authentication, the recent integration of iris scanning on Samsung’s flagship Galaxy smartphones has brought multimodal flexibility to users who prefer to pay with their phones.

Sumitomo Mitsui’s Biometric Summer

Japanese financial institution Sumitomo Mitsui entered into a partnership with NTT Data and biometrics specialist Daon last autumn with the aim of developing a multimodal biometric banking app for its customers. Last week Sumitomo offered an update on the progress of its mobile app, stating that a full scale launch is planned for this summer.

The Sumitomo mobile app’s biometric security will be based on Daon’s Identity X platform, which has a strong reputation in the financial services arena. Multimodal and future-proof by nature, Identity X is behind the biometrics on USAA’s successful mobile banking app, which allows users to login via face, voice, or fingerprint recognition.

Money Talks Down Under

Australian bank ANZ is going to begin giving customers the option to authorize high-value transactions on mobile using voice biometrics. Traditionally, transactions valued at over $1000 have to be conducted online or in personal at a branch location, but this summer ANZ is using voice authentication to enable the process on mobile phones.

The voice authentication technology to be used in this deployment comes courtesy of Nuance Communications.

In a statement announcing the new biometric capabilities, Peter Dalton, ANZ’s managing director of Customer Experience and Digital Channels, said, “Voice biometrics is the next step in making banking more convenient for our customers while also strengthening security.”

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

Samsung Pay Launches in UAE

Sumitomo Mitsui’s Biometric Summer

Money Talks Down Under

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