January 27, 2014 -
Facebanx has just launched new software that it says allows any user to use an image of their face and a voiceprint to replace passwords.
“By simply pointing a device’s camera and taking a selfie and then repeating out loud four randomly generated numbers, customers will be able to log into their account within seconds. This technology is incredibly accurate as it combines two different biometrics into one seamless experience,” CEO Matthew Silverstone said.
“Our product is proving incredibly popular to organisations in the banking, gaming, healthcare and retail sectors as it provides for the first time a level playing field against cybercrime. Now criminals will not be able to use malware to simply hack into customer accounts as they won’t be able to reproduce a live streamed image speaking out loud randomly generated numbers. This is the first time that the customer has been handed power back to them to stop account takeovers from taking place.”
According to the company, a global telecom is one of the first to trial its software. In addition, Facebanx says it has other large-scale trials scheduled for later this month for multinational banks.
According to new research, the global facial recognition market has been projected to grow at a CAGR of 24.5 between 2012 and 2016. As it stands, government departments are the major adopters and users of facial recognition.