Ten Years

Biometric Authentication and Future of Mobile Banking

Biometric Authentication and Future of Mobile Banking

Biometric Authentication and Future of Mobile Banking: Biometric Authentication system basically identifies the physical features of a person. Due to the increasing number of frauds, there is a need of highly secured systems. Biometric systems provide utmost security.

World is becoming digital and it is difficult to remember so many passwords.We install so many apps on our smart phones, it is difficult to remember all of the passwords. We can neither remember such 8 character password with special characters nor can we carry a writing pad every time to see the saved passwords.

Therefore, to provide ease the password management and to  keep an eye on the security biometric is used. User will only authenticate through finger prints or some other biometric parameters.

Biometric authentication also improves the simplicity of the system. It makes it more user-friendly.

Banking system is changing with the introduction of Biometric system.

Biometric Authentication and Future of Mobile Banking

Trends in Biometric Authentication: Biometric authentication system continues to evolve. Many organizations are using it, also it  is still under development for high level accuracy.

No Pins and Passwords: Besides secured passwords and measures taken for utmost security, sometimes customers still face frauds. Today most of the organizations prefer to opt Biometric authentication system to maintain the security of system.

More Devices with Finger Print sensors: Users Research says, over 40% mobile devices will use biometric system this year. Moreover, it is an opportunity for the banking system than a barrier. If smart devices can have such strong security systems, then why not banks?

Ease of use for customers: Biometric system is a boom for banking systems and other financial institutions.All the organizations follow this trend widely. Most noteworthy, it saves customers from remembering PINs and Passwords while improving user experience.

Authentication is much easy with biometric system enhancing user experience. It makes the online payment system easy too. The success rate of technology in government sector as well as private sector is very high. Hence, it makes it easier to adopt such hi-tech systems.

 

 

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