As digital platforms in financial services grow in sophistication and the idea of ‘branchless banking’ becomes a reality, customers have access to new efficiencies and personalised services.
The act of identifying ourselves is under rapid transformation, especially when it comes to using biometrics to access financial and governmental services. If executed correctly, this offers an opportunity for greater inclusivity than ever before.
Audio recognition technology has been an attractive security solution for financial services companies across the globe, with voice-based accounting enabling customers to deliver account instructions via voice command. Voice biometrics offers real-time authentication, which replaces the need for security questions or even PINs. Barclays, for example, integrated Siri to facilitate mobile banking payments without the need to open or log into the banking app. Visa partnered with Abu Dhabi Islamic Bank to introduce a biometric voice and voice-based authentication platform for e-commerce which uses biometric sensors built into a standard smartphone.
Introduction to KYC and Remote Biometric Authentication What is KYC? In short – ‘Know Your Customer’. To expand, KYC is an abbreviation synonymous among authentication providers and fintech company executives alike – referring to a golden rule around customer identity authentication. Remote biometrics authentication is essentially about verifying someone’s identity, comparable to facial recognition –