Be Ready for Biometrics

Biometrics are becoming mainstream, as they offer improved security, convenience, and improved customer experience.

Boston, October 12, 2016 –  Ten years ago, biometrics were in the realm of sci-fi and action movies, and they were certainly not a part of the average person’s daily life. Biometrics have suffered from a “creepy” factor, enhanced by Hollywood depictions of dismembered hands and gouged eyeballs. Also, in many cases, specialized and expensive biometrics equipment was required. Today, this has all begun to change with the introduction of consumer-oriented biometrics, driven primarily through smartphone adoption.

Through the advancements in mobile phone technology thanks to innovations from hardware providers such as Apple, Google, and Samsung for integrating fingerprint readers and front-facing cameras, consumers are more exposed to biometrics and are more accepting of them. This is driven by convenience as much as security; just touching a thumb or looking at a camera is easier and quicker than typing in a code. Consumers have come to embrace this technology and largely accept that their biometrics are unlikely to be stolen or compromised—or at least conclude the risk is worth it for the improved convenience.

“Biometrics are more available and easier to use today than ever before. Mobile devices offer an array of sensors for a variety of physical and behavioral biometrics. Institutions can boost both user experience and security with a strong biometrics strategy,” says Aite Group senior analyst Ben Knieff.

Aite Group’s latest report, Biometrics: The Time Has Come, looks broadly at a variety of biometrics capabilities that are being deployed across the globe and a number of vendors supporting biometric authentication. It is based on Aite Group requests for information from 27 vendors from March to August 2016 and interviews of more than10 executives from large financial institutions and payments service providers.

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:

Jennifer Molgano
+1.617.338.6050
[email protected] 

How can we help?

If you have a question specific to your industry, speak with an expert.  Call us today to learn about the benefits of becoming a client.

Talk to an Expert

Receive email updates relevant to you.  Subscribe to entire practices or to selected topics within
practices.

Get Email Updates