We are now living on the edge of the technological revolution. Especially in the last decade, we observed tremendous advancements in technology. For example, ten years ago, most people didn’t think that biometric identification would be one of the most common features of a smartphone. However, keeping in tune, criminal, and fraudulent activities are also getting new dimensions like identity theft, transaction fraud, cybercrime, or data breach. These threats lead the biometric identification as a security measure for the coming days. Though biometric identification is now a very familiar technology in the business world, the deployed scopes are not enough for the coming days.
Why Choose Biometric Identification as a Security Measure?
Biometric identification is recognized as the most secure and accurate method of identification since ancient age. Followings are the reasons behind choosing biometric identification as a security measure for the coming days:
Biometric data is non-transferrable and too complex to forge. There is only one way to get biometric data of an individual, and it is by getting himself or herself. If you are thinking about biometric data spoofing, it’s too complicated and could be replicated your biometric successfully after several trial and errors. Moreover, liveness detection technology is on the horizon that identifies only live biometric data and denies any artificial objects.
Recently synthetic identity fraud has exposed as a severe threat for banking and financial institutions. It’s a combination of real and fabricated information that doesn’t belong to anyone. Fraudsters use different personal information like social identification number, name, DOB, address, or of different individuals to create a synthetic I.D. that creates a new user and authenticates a transaction. Using behavioral biometrics for banking transactions can prevent synthetic identity fraud not only matching the credentials but also matching the input pattern.
Creating Audit Trail
Biometric identification keeps a record of each authentication with the details of a particular date, time, and terminal. The analytics associated with the biometric system can detect suspicious access easily and enables the authority to take precautions. For example, if an organization maintains a secure database or a particular record room where the access is restricted to the authorized persons only, and anyone access that in an unusual time the analytics will show the event.
In a biometric identification system, no one is entertained with their access to the designated system or area or workstation without their biometric data. It raises accountability among the employees as they know that their existence is recorded and there is no way to bypass that. It helps an organization to move on establishing an ethical culture among the employees.
Easy to Deploy
Now a day implementation of biometric identification is quite affordable. Along with the on-premises system, many vendors are offering Biometrics-as-a-Service that eliminates the burden of managing dedicated I.T. infrastructure and investment in developing a new biometric identification system. Unlike other industry vendors, M2SYS technology offers the Biometric API that allows the user to integrate a biometric identification system with their web or mobile apps within a few hours.
The above factors indicate that it’s high time to think about biometric identification as a security measure for the coming days and save millions of dollars from being lost due to lack of having an effective security measure.