“Incode allows financial institutions to effectively capture customer data from their ID, verify identity documents, authenticate facial biometrics and identify any potential security risks up to 5 times faster than traditional onboarding processes. ‘Instead of going to the bank and going through the long process of proving who you are, it’s going to be a…
Tag: authentication
Survey of Fintech and Banking Executives Reveals Identity Authentication Risk and Customer Dissatisfaction Top List of Concerns
“Identity authentication is most often conducted with one-time passwords (36%) or a combination of OTP and KBA questions (29%). While respondents’ familiarity with facial biometric identity authentication is high (88%), less than one-quarter (22%) currently use this technology. More than two-thirds (70%) of respondents are either “highly likely” or “somewhat likely” to consider facial biometric…
Apple Pay Was Not Disruptive But Apple ID Will Be
“Apple has recently registered a number of patent claims across the general field of “verified claims of identity” which have quite rightly attracted some attention. In July, they filed an application with the U.S. Patent & Trademark Office that describes the technology it is trying to develop to replace traditional driver’s licenses, passports and varied…
Deep Dive: How Biometrics And AI Are Improving Banks’ Customer Experiences
“Unfortunately, FIs are often caught between balancing more stringent security tools and offering the seamless experiences consumers crave. Modern customers are much more likely to grow frustrated by lengthy processes and switch to other banks, after all. As such, FIs must seek more innovative authentication procedures that take less time and draw less ire than…