Offshore Development Companies Are Bringing Biometric Identification Management Technology in Banking Sector

use biometrics to identify customers and employees in banking

What impact has biometric identification had on the global banking industry? (Photo courtesy of pixabay)

The followin guest post on biometric identification in banking was submitted by Vin Boris.

BIMT (Biometric Identification Management Technology) has been in use for decades. This form of technology has proven its metal and has entirely changed the way security practices are conducted in every field of our life.

What is Biometric Identification Management Technology?

Biometric identification management is an effective technological medium of ensuring security in every walk of life. This technology makes use of completely unique process to identify a person via scanning of fingerprints, hand & earlobe geometry, voice waves, signature, DNA and retina and iris patterns.

Areas of Biometric Identification Management Technology’s Application:

Most of the common people are using this form of technology. They are using it unconsciously. They see it being used everywhere but they know what it is called. They know much about it. They go to airports, schools, polling booths for voting, blood banks and tap their fingers on security devices to get their eyes etc. scanned for security purpose. This form of technology is now also being used in banks to prevent theft yet most of the people don’t know much about it.

Now it is Entering the Banking Sector:

Now banks across the world are also going digital. The inception of digital technology’s application in banking sector has made life easier for people. But gone are the days when hackers used to steal vital information of some country’s or company’s information for fulfilling their evil intentions. The application of digital technology has always drawn the attention of unethical hackers in this direction.

This is why banks and other financial institutions are fast embracing biometric identification management technology for the safekeeping of their customers’ sensitive information to be able prevent hackers from stealing their money.

Initiative Being taken in This Direction:

Taking this into consideration, web application development service providers are seeing it as an opportunity to stamp their authority in the domain of onshore and offshore development services to grow their business.

Constant cyber-attacks by hackers have drawn the attention of IT service providers towards the baking sector. Now they are turning their attention towards user’s mobile banking accounts. This is why the IT companies are now coming forward to offer the development of website security applications. Some of the software development companies in India are already providing biometric identification management technology in the form of features and web and mobile apps.

Some Mediums of Biometric Identification Management Developed for Banking:

Passwords applied to internet banking accounts no longer guarantee security. Increasing cyber-attacks on banking websites prove it. Hackers have easily been able to crack millions of passwords applied internet banking accounts for stealing money.

This is why some software development companies in India are providing biometric identification management technology in various forms mentioned below:

Fingerprint Identification:

This specific feature was being demanded by users for a very long time. Since banks have also given green signal to this biometric identification management technological feature/tool developed by offshore software outsourcing companies, considerable increase in the security of user’s data has been noticed by the banks. As for reason, the maximum control of their accounts lie in user’s hands through their mobile apps.

In accordance with Betty Riss, a Spokesperson of The Bank of America, customers have welcomed fingerprint identification feature in their mobiles. This feature has helped them secure their accounts.

However, fingerprint scanner incorporated in mobiles or mobile banking apps by software developers cannot be trusted blindly as it is not 100% secure. Banks need to get in touch with the software development companies hired by them to find new ways to make it 100% flawless and secure.

Voice Recognition

No one generally likes to get engaged in long term conversations with bankers to get answers to their banking queries. This one special thing is very annoying for any customer. In other words, this is the most annoying and tedious part of calling a bank through their IVR system. Users have to answer a number of questions related to their account security such as mother’s maiden name, favorite dish to help banks verify their identity. Even bankers also don’t like to ask users such questions but they have to do so in order to verify their identity.

Taking this into consideration, a number of government, semi-government and private banks are calling software development companies in India for the development of vocal biometric identification management technology to help them verify customers through their original voice and ensure fool-proof security of their banks accounts and internet/mobile banking accounts.

According to a research, some banks have even collected more than 260,000 voice prints of their customers by the end of 2016. This biometric identification management technology matches customers’ data and verifies their identity against the stored data within a few seconds.

This form of biometric identification management technology is now being accepted by many banks. Even some offshore software development companies in India are working closely with banks in this direction.

Face recognition

According to the web application development service providers, facial recognition system is another form of biometric identification management system being provided to banks as a solution. This system is turning out to be very effective as most of the customers are using selfies as a medium to help banks verify their identity to make payments using mobile banking apps or internet banking services.

USSA was the first organization to utilize facial recognition as a medium for biometric identity management system. Now a lot of famous companies like MasterCard are also using facial recognition for the same purpose in the form of selfie-pay for customers in many countries of the world.

As far as the privacy of customers is concerned, IT experts are making sure that the biometric identity management technology developed and provided by them to banks don’t store customers’ actual photo. Instead, it should just store a coded version of it in their records.

Final Thoughts:

Biometric identity management technology has entered the banking sector. On the other side of it, web application development service providers are also seeing it as an opportunity of seeking new business growth for their business and customer base like never before. Now let’s see how far this technology goes in banking sector? Let’s see how powerful it turns out to be for preventing cyber-attacks on banking websites and mobile applications thereby securing customers’ hard earned money and in turn saving their reputation.

Vin Boris is a Social Media Marketer & Content Writer at SoftProdigy, a web design and development company. SoftProdigy has been outshining in the IT industry for more than 10 years. The experts at SoftProdigy have worked for numerous clients including both small and high-end brands.

How Law Enforcement Agencies are Using Biometrics

How Law Enforcement Agencies are Using Biometrics

Biometric identification management technology is so efficient for security purposes that law enforcement agencies around the world are embracing it with open arms. They strategically use either a physiological modality, a behavioral modality or a combination of both — the most common modalities in use are fingerprints, iris and facial recognition, gait, and voice recognition. The rapid implementation of biometrics has sparked a revolution within the global law enforcement and security industry.

Law Enforcement Biometrics

Source: Pexels.com

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The Benefits of Biometric Technology & How It Protects Your Identity

biometric technology expanding across the world

Biometric technology is rapidly expanding as a trusted, secure means of personal identification. (Photo courtesy of pexels.com)

The following guest post on biometric technology was submitted by James Daniels.

The utilisation of biometric technology to identify individuals has been in use for years all over the world. As technology continues to advance, biometric technology is also advancing.
Biometric technology refers to the ability to identify an individual based on their unique physical characteristic, behaviors and patterns. Most often biometrics can identify an individual through their fingerprints, the physical structure and characteristics of their face, thru the utilisation of iris and retina scans, and more.

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What the Biometrics Boom Means for Mobile Device Security

biometrics is increasing mobile device security

Mobile security is undergoing fundamental changes with the introduction of biometrics on smart devices.

The following guest post on biometrics for mobile device security was submitted by James Daniels.

The mobile biometrics market is booming. The global biometrics system market is projected grow at a compound annual growth rate of 16.79 percent between 2016 and 2022, expanding from $10.74 billion to $32.73 billion. Demand fueling this growth will be led by the financial sector, the healthcare industry, government initiatives and law enforcement. Fingerprint recognition is currently the most popular biometric technology, finding its most widespread application in the travel and immigration sector, but other technologies such as facial and voice recognition are expected increasingly gain currency as well. Here’s a closer look at the biometrics boom and what it means for your mobile device security and lifestyle.

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Why is Iris Recognition Biometrics Becoming Dominant?

Iris recognition is a biometric modality which captures a photo of the eye pattern, converts the photo to a binary template and then saves the data to a server for future matching. Iris cameras are used to recognize an individual’s unique identity by analyzing the random, unique patterns which visibly appear inside their eye from a certain distance. It utilizes multiple technologies including optics, statistical conclusions, pattern recognition, and computer vision.

Iris recognition biometrics is widely considered to be the most accurate biometric modality among those currently available in the market. A recent Twitter poll we conducted asked what the public feels is the most reliable biometric modality and results indicated that most people trust the reliability and accuracy of iris recognition technology over any other biometric alternative.

IRIS Camera

IRIS

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How Body Guards Use Biometric Technology on the Job

biometric technology for bodyguards

What are some of the most common uses of biometric technology by bodyguards?

The following guest post on the use of biometric technology by body guards was submitted by Jason Mueller.

The idea for biometric scanners and biometric technology has been around for decades and people have been recording fingerprints for more than a century, but this technology has advanced dramatically in the past 20 years along with the advent of computers and more capable electronics. Today biometrics are used for computer access, to screen employees, to secure buildings and for many other purposes. They’re highly reliable, and cost-effective to use. Even personal body guards are putting biometric technology to use during their jobs.

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5 Factors to Consider in Choosing the Best Biometric Modality

The success of a biometric system often depends on choosing the right biometric modality, but it isn’t easy. Careful research that includes rigorous comparisons of modality strengths and weaknesses is an important element to help select the right hardware. Factors to consider in the comparison may include: specifications, convenience, usability, acceptability, effectiveness, and budget.

biometric modalities

Choose the right biometric modality

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Which is The Most Reliable Biometric Modality?

We recently conducted a Twitter poll: “What is considered to be the most accurate biometric modality among the following options?

We received a large number of responses from our community reflecting the following results:

  • 58% chose iris recognition
  • 32% chose fingerprint
  • Palm vein and facial recognition both got 5% of the votes

It’s interesting that people immediately gravitate towards iris recognition as the most accurate biometric than other modalities, with only fingerprint as a distant second. What is the reason behind the result?

best biometric modality

The best and most practical biometric modalities for individual identification

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Why We Love Biometrics (And You Should, Too!)

As biometric technology deployments continue to spread around the world, we are witnessing a historic shift change in how individuals identify themselves in a variety of settings. We are entering a digital era where the use of passwords to provide access to and security for a host of services has become intertwined in everyone’s lives. However, relying on passwords to secure our identities is increasingly becoming a security risk whereas biometrics has proven to be a more secure and convenient way of self-identification to secure our information without memorizing truckloads of numbers and characters. Biometrics also offers additional benefits such as improving workforce management, more secure online banking, more efficient and equitable government service distribution, and increasing patient safety in healthcare – all examples of why you should embrace the use of the technology to protect your individual identity.

Top 25 terms in biometrics explained

25 popular biometric terms

 

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The Top 5 Uses of Biometrics Across the Globe

Uses of biometrics across the globe is on the rise.

From border and immigration control to identifying criminals to time and attendance in workforce management, the practical uses of biometrics are growing rapidly.

Over the years, we have seen steady upward growth of biometric technology across the globe for myriad reasons but mostly due to the fact that personal identification and authentication is considered more and more important. From border and immigration control to identifying criminals to time and attendance in workforce management, the practical uses of biometrics are growing rapidly.

Many businesses consider biometrics to be applicable for government use only but they are quickly learning that the applications of biometrics extend far beyond the government use exclusively. In this post, we will discuss the top 5 uses of biometric technology across the globe — places where the technology is used to create more security and convenience for everyday citizens.

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