Financial ID Briefing: Banking With A Selfie

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.

Banking With a Selfie in Argentina

Financial ID Briefing: Selfies For Banking ICBC, the largest bank in the world by asset volume, recently embraced facial recognition based security at its Argentinian subsidiary. The biometric security comes via FacePhi’s FIDO Certified mobile authentication platform, Selphi. ICBC customers will be able to contactlessly authenticate into their mobile bank accounts with the front-facing cameras on their smartphones.

Facial recognition technology like Selphi is emerging as a popular authentication method in mobile banking. The software-based nature of face recognition enables users who own smartphones from the pre-biometric era to benefit from the enhanced security and convenience of strong authentication. And what’s more, as BioConnect CEO Rob Douglas mentioned on the Money20/20 Europe biometrics panel two weeks ago, facial recognition is the most intuitive and human identification method, therefore making selfie-finance the natural way to bank via mobile.

Paying With iPhones in Italy

Financial ID Briefing: Selfies For Banking Last week, Apple Pay expanded throughout Europe. The mobile wallet scored new bank support in France, Italy, and Spain. Apple Pay is now available now though Banca Mediolanum in Italy, and N26 in Spain, as well as four new financial institutions in France: Crédit Mutuel de Bretagne, Crédit Mutuel du Sud-Ouest, Crédit Mutuel Massif Central, and Crédit Mutuel Arkéa.

Apple Pay is also continuing to gain popularity stateside. Recently, 21 American banks and credit unions threw in their support for Apple’s mobile payment platform, which uses the built-in biometric functionality of the iPhone to authenticate payments at contactless terminals and online.

Shopping By Voice in Chinese

Financial ID Briefing: Selfies For Banking Alibaba is preparing to launch its Tmall Genie X1 smart home assistant, and in doing so will bring contactless biometric shopping to Chinese speaking users. Positioned as a low-cost competitor to Xaioyu and LingLong DingDong, the Tmall Genie X1 performs much like the Amazon Echo—it allows users to control connected devices throughout their home via voice command. The smart home hub can recognize user voices via biometric functionality, enabling contactless online shopping through the Tmall e-commerce website.

The biometric shopping functionality of the Tmall Genie X1 is an encouraging development as voice command continues to gain traction as the preferred user interface of the Internet of Things. While the consumer IoT’s promise of convenience is becoming apparent through its increasingly wide variety of use cases—from lighting control to door-locking—its breath of utility is stunted without an easy and assured identity management component. With voice-enabled e-commerce, Tmall Genie X1 joins the trend of bringing biometric recognition into the connected home, and giving residents a reason to use it too.

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

Banking With a Selfie in Argentina

Paying With iPhones in Italy

Shopping By Voice in Chinese

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