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5 Industries Getting Disrupted by Biometric Technologies

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With the rising concern for security, biometric technologies have made its presence known throughout. According to Global Markets Insights, the biometric market’s global value is projected at 50 billion by 2024.

Biometrics is the analysis of an individual’s physical or biological statistics. These biometrics are unique for each individual and features like voice or fingerprint can be used for authentication and accessing control.

In this modern-day, ensuring maximum efficiency and security for identification has become a necessity. And biometric technologies play a major part in solving security issues for enterprises and individuals alike.

Listed below are 5 industries that are getting disrupted by biometric technologies:

  1. Financial Services

PIN codes and passwords are a tale of the past. They give poor protection to a bank’s customers as they are easier to counterfeit and hence lead to theft. They also have poor usability as they are often difficult to remember making them inconvenient for security.

The banking sector has now leveled up its security by making use of biometric technologies to keep track of its clients. Security to one’s account has been tightened by technologies such as fingerprint scanners, facial recognition, etc.

Banks use biometrics for advanced authentication to protect the data of customers. It is a long-term market shift that has been gradually taking over the traditional means of securing one’s financial data.

And when it comes to securing our finances, biometrics are much safer as compared to passwords and pins because it requires your authentic authorization. The banking industry is also looking for further solutions in the use of biometric technologies to protect the financial data of its consumers.

  1. Healthcare Services

With the advancement of technology, gathering and storing the data of patients in hospitals have become easier and safer. Biometric technology in health services can help both time management of the staff and the security of the patients.

Hospitals and clinics are making use of biometric technologies to verify the identity of the patients and help caregivers in providing proper medical services according to the latest information concerning their patients.

Facial recognition tech, iris scanner, and finger scanner are some of the most used biometric technologies in hospitals to get access to or control data. It is a more reliable means of access as compared to key cards which can be easily misplaced or lost.

It also gives the healthcare providers easier and quicker access to the data they need to provide care to the patients.

Hospitals are becoming more concerned with providing better privacy protection and safety measures to their clients, hence the increased use of biometric technologies for documentation and monitoring purposes.

The productivity of doctors and nurses can also be easily monitored through the use of biometrics.

  1. Hospitality Sectors

The hospitality sector is all about providing comfort, luxury, and security to its clients. The organizations that are keeping up with the pace of this change in technology are slashing down their rivals easily in this highly competitive industry.

Imagine never having to stand in lines for checking into a hotel during their busy season or having to concede for security checks. This is what biometrics is bringing to the hospitality sector.

Biometric devices are used in most of the high-class hotels due to its safe and customer-friendly features. To have access to exclusive rooms and places, the guests can simply provide biometric data required by the hotel.

Check-in and check-out with fingerprints or facial recognition can make it easier and convenient for the guests and make their stay comfortable and safe.

  1. Air Travel & Migration

The use of biometric technology in the travel and migration industry links the e-passport (electronic-passport) and its holder. It is a convenient way to speed up check-ins of travelers while maintaining security and controlling the flow of migration.

It is a great opportunity for airlines and airport industry to provide every passenger with a safe and enjoyable travel experience.

For the said reason, biometric technologies have made its mark in the travel industry by complying with its requirement of being efficient while monitoring security.

It is not possible to manually and accurately capture every information of travelers entering the country. But biometric technologies like fingerprint scanners are helping in the control of migration.

  1. Commercial Industry

In a quest to prevent theft, many retailers are relying on the biometric technology that provides facial recognition of its customers.

It is used against a database of known shoplifters to monitor any potential thieves by comparing the scanned facial data.

Facial recognition can also enable retailers to promote relatable items to the customers according to their views and interests in a particular product.

The commercial industry is disrupted by biometric technologies mainly because the retailers are motivated to cut down theft by customers and even employees.

Conclusion

Biometric technologies are reshaping the traditional way of data collection and security. It has brought a revolution in many industries and has completely disrupted the following 5 industries:

  • Financial Services & Banking
  • Healthcare Industry
  • Hospitality Sector
  • Air Travel & Migration
  • Commercial Industry

Guest Author’s Bio:

Aditya Sharma assist job-seekers land their dream job in today’s highly treacherous job market; Aditya lives and breathes Hiration — a startup and AI-powered online resume builder to help professionals around the globe frame job-winning resumes.

 

M2SYS Technology simplifies the development and deployment of biometric projects