ENHow to safeguard Banking Login Access?
The banking business model has evolved from offline to online to mobile and today, almost all banking institutions offer some form of mobile banking for customers to have 24/7 access to their funds. With our increasingly digital lifestyles, accessing bank accounts via mobile and online platforms is no longer optional but rather a necessity that if not offered, a bank is at risk of losing customers.
According to the Financial Brand, it is predicted that 88% of consumer-bank interactions will happen through smartphones by 2022. Therefore, as the volume of digital transactions grows, it is imperative to ensure security against identity theft, fraud, and other cyber-crimes. Banks are increasingly seeking new technologies to not only secure the network connectivity of their digital banking platforms but also enhance the user identification process for banking login access. One such technology is biometrics and globally many banks are using biometrics with their banking systems to authenticate customers.
Biometrics technology is particularly well suited to the banking industry and offers a quick, secure, and effective way to authenticate the identity of users without passcodes or tokens – the “password” is your face or voice. How can our ID37 biometrics solution, more specifically our face/voice recognition capabilities, improve the identity authentication process for users?
Our solution uses face and voice recognition to baseline and later authenticate users – no need to remember any password. Your face or voice becomes the password
Mobile banking applications can be easily modified to integrate biometrics and authenticate customers
Users can be given an option to login by using their face, voice, or a combination of a passcode, plus one of the other authentication capabilities
Our ID37 Biometrics mobile solution combines mobile, data analytics and biometrics to track and monitor compliance while ensuring data integrity and ease of use. If you already have a mobile banking application, we can easily integrate our biometrics authentication solution so that it works seamlessly with your existing applications to provide that next level service to your customers.
Interested in learning more about ID37? Schedule a Demo Today!