Mastercard said all consumers will be able to use biometric identification when they shop and pay by April of next year; banks offering Mastercard branded cards will have to have biometrics alongside the typical PIN and password; the company cited consumers preference for this type of authentication and new regulations like PSD2 in Europe; Mark Barnett, president, Mastercard UK and Ireland, tells Banking Technology: “It will make the purchase much smoother, and instead of having to remember passwords to authenticate, shoppers will have the chance to use a fingerprint or a picture of themselves.” Source.
Experian will integrate BioCatch with its fraud prevention platform; the new platform services will use behavioral biometrics to help clients detect fraudulent credit card and loan applications; with BioCatch clients can consider a range of factors including the speed at which information is entered and how familiar a user is with the application process. Source
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FST Biometrics has raised $40 million and is developing a solution for facial recognition that detects your identity while you are in motion; the biometric technology presents a new solution for security identification; by detecting your identity it can be used to unlock doors and provide various other types of security access. Source
As more and more countries begin implementing biometric technology at their borders, banks are also beginning to use fingerprint analysis and retina scans to verify identities; Canada has used their NEXUS program to track travelers and India has used the Aadhaar program to identify their population; banks have begun testing out these technologies to see what fits their customer best: fingerprints, retina or facial recognition; with the new technology still comes age old issues of theft; stealing a fingerprint then changing it can happen just like the changing of a password; banks are still trying to figure out how to address the new technology and learning lessons from border patrol is one way for them to ensure the best solution. Source
Acuity Market Intelligence has released the 2017 "Ten Top Trends for Biometrics and Digital Identity"; the market intelligence firm says 2017 will be an important year for biometrics and digital identity; topping the list of trends for the year is behavioral biometrics on smartphones and their associated privacy issues. Source
French bank BNP Paribas, along with Daon, has developed a new biometric login for their wealth management clients using their mobile device; the new service is called myBioPass and it allows users to login using a selfie; transactions are then authorized by fingerprint or voice recognition; the service is currently active for Luxembourg clients using iOS mobile devices; myBioPass will be added to desktops and Android devices later this year. Source
French casino and hotel business, Groupe Partouche, has partnered with MeReal Biometrics for use of the company's smart cards; the smart cards from MeReal Biometrics are a featured product at the Web Summit this week; employees of Groupe Partouche will begin using the fingerprint identity cards in select locations and expansion is expected to more locations and guests if successful. Source