Biometrics for finance applications revenue to reach $2.2B by 2024

Tractica announced it has published a new report titled “Biometrics for Finance Applications”, which examines the global market for biometrics in the finance industry, including 10-year forecasts for the period from 2015 through 2024. According to the report’s forecasts, revenue for the global biometrics finance market will grow at a CAGR of 38% from a base of $126 million in 2015 to reach $2.2 billion by 2024. The global market will have a cumulative revenue of $11.7 billion for the

Global biometrics market report: banking, financial services and insurance sector

Infiniti Research Limited has published a new report titled “Global Biometrics Market in BFSI Sector 2015-2019”, which forecast the market to grow at a CAGR of 21.83% during 2014-2019. The detailed report covers forecasts for the present and future state of the global biometrics market in the BFSI (Banking, Financial Services and Insurance) sector for 2015-2019. Biometrics in the BFSI sector is mainly used for security purposes, such as preventing data breaches and identity theft, according to the report. Meanwhile,

Uber pressured by California officials to implement fingerprint checks for drivers

California officials have demanded ride-sharing firm Uber to start using law enforcement fingerprint checks in Los Angeles, Sacramento and San Francisco as a more thorough screening practice to ensure that its drivers do not have any recent records of violence or crime, according to a report by Government Technology. The issue is only intensified by Los Angeles legislators considering a proposal to allow ride-hailing services full access to Los Angeles International Airport, and district attorneys in L.A. and San Francisco

Dermalog wins Frost & Sullivan’s biometrics award for achievements in Africa

German biometrics manufacturer Dermalog Identification Systems announced it has been rewarded Frost & Sullivan with the “2015 African Biometrics Company of the Year Award”. The prize was awarded to the company for its outstanding achievements in 20 African countries, including its portfolio of fingerprint scanners and biometric systems. Dermalog has provided countries like Angola, Ghana, Tanzania, and Zambia with biometric solutions that solve local challenges such as identity theft, corruption, demography and migration, along with the economic development of these

Biometrics in healthcare, mobile authentication, Aadhaar, Biometrics2015 and more top stories

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Biometrics 2015: Isabelle Moeller Q&A One of the week’s most popular stories came in the form of a Q&A interview with Biometrics Institute CEO Isabelle Moeller, who discussed preparations and details about the upcoming Biometrics 2015: Secure Identity Solutions Now! conference, held October 13 – 15 at the QEII Centre in Westminster, London. India bars national biometric identity usage In a surprising

Columbus schools to deploy fingerprint authentication in cafeterias

The Westerville City School District Food Service Department is slowly deploying biometric finger scanning at several of schools throughout the Columbus, Ohio district, according to a report by This Week Community News. The department will first install the fingerprint technology at Blendon Middle, Longfellow Elementary and Pointview Elementary schools, which will cost $3,731 for the three buildings. The new system will enable students to use their fingerprint to access their meal accounts at lunch time instead of swiping their ID

Biometrics 2015: A Q&A with Biometrics Institute CEO Isabelle Moeller

The Biometrics Institute is carefully planning the upcoming Biometrics 2015: Secure Identity Solutions Now!, held October 13 – 15 at the QEII Centre in Westminster, London. With a number of panel discussions, debates, and networking opportunities planned throughout the event, this year’s conference boasts a lineup of 75 speakers who will share practical advice, tips and solutions for using biometric technology for managing identity and increasing efficiency within government and commercial applications. Although the year is far from over, the

Biometrics and privacy laws, fingerprints, facial recognition & more top stories

Here’s a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Iris recognition Virginia Commonwealth University announced the school has installed iris recognition cameras that will allow students with meal plans to access the dining hall this fall. Facial recognition pilot Police in Leicestershire, UK recount the successful trial of facial recognition software at a major music festival, suggesting that the technology could be used in other environments. Illinois biometrics privacy law Recent class

States considering biometrics capture laws may look to Illinois privacy laws

Recent class action lawsuits filed against Facebook and Shutterfly are the first to test the Illinois’ Biometric Information Privacy Act, which requires organizations to acquire consent prior to collecting a person’s biometric data for commercial purposes, according to a report by Lexology.com. Although both cases involve biometric capture practices in the social media space, the lawsuits and corresponding Illinois law in question pertain to privacy issues regarding biometric-capture technology, including the organizations that use it for security or sales and

Hong Kong’s Privacy Commissioner for Personal Data updates biometrics guidelines

Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) has updated its guidelines regarding the collection and use of biometric data to address a “broader scope of biometric data”, according to a report by Data Guidance. The “Guidance on the Collection and Use of Biometric Data” (the Guidance) replaces the 2012 version and explicitly states when biometric data can be collected as well as the privacy measures that ensure that the data is correctly and safely processed. “This