Unisys predicts small and mid-sized banks to expand biometric and AI use

Fintech startups and advances in voice-powered AI will drive an increase in biometric authentication and chatbot use to improve the speed and security of customer experiences, Unisys predicts. Banks will shift towards an integrated, omnichannel approach to financial service delivery in the coming year, and will do so by leveraging advances in security and predictive technology, Unisys says, which will bring biometric authentication into the mainstream. Citing Unisys Security Index findings that American consumers are more concerned with the risk

Mastercard bringing online biometric payments to Europe

Starting April 2019, online shoppers in Europe will be able to use biometrics as a way to identify themselves when they pay with Mastercard. Citing the increased availability of biometric capabilities on tablets and smart phones and consumers’ preference for these kind of solutions, Mastercard says that the time is ripe for enabling biometric validation solutions for digital payments. Research from Mastercard and Oxford University last year found that 93 percent of consumers prefer biometrics over passwords for validating payments

Mitek ID verification solution improves Nocks onboarding time by 98 percent

Mitek has announced that European blockchain provider Nocks has improved its customer onboarding time by 98 percent, from 12 hours to five minutes, by utilizing Mitek’s Mobile Verify government ID verification technology. Mobile Verify has helped Nocks comply with the fourth and fifth EU Anti-Money Laundering (AML) Directives, while its userbase has grown by 214 percent since integrating Mitek’s technology. Nocks, which uses the Gulden blockchain to orchestrate transactions, can validate the identity of applicants in real time with Mobile

Visa announces pilot for biometric payment cards

Visa has announced pilot projects for a new EMV dual-interface biometric payment card with chip and contactless transaction capabilities in partnership with Mountain America Credit Union and Bank of Cyprus. The payment cards in both pilots have embedded sensors from Fingerprint Cards’ FPC1300-series. Biometric technology supplied by Gemalto is used in the Bank of Cyprus pilot, while the Mountain America Credit Union pilot utilizes Precise Biometrics’ Precise BioMatch Embedded algorithm solution, as well as technology provided by Kona-I. “I am

Startup Bite offering automated kiosks with facial recognition for restaurants

U.S. fast-food chain Jack in the Box is considering deploying automated kiosks to replace human cashiers at its points-of-sale, CEO Leonard Comma said this week. The technology to do so is already available from startup Bite, which makes facial recognition kiosks for quick service restaurants, The Spoon reports. The kiosks consist of iPads with proprietary software and machine learning integrated, and use facial recognition to engage customers with loyalty programs, customized menus, and upselling opportunities. “We think facial recognition can

IDEX hosts investor presentation on capturing the second biometric wave

IDEX hosted an investor presentation on “Capturing the Second Biometric Wave” with CEO Dr. Hemant Mardia, CFO Henrik Knudtzon, CTO Fred Benkley and Chief Products Officer Stan Swearingen this week at CES 2018 in Las Vegas. The second wave, IDEX says, consists of larger sensor sizes, driven by usability and security, the decoupling of sensing elements from silicon, which significantly decreases sensor cost, and the integration of digital intelligence into the driver ASIC. The company noted Mastercard and University of

Enacomm and Advantel partner to offer financial institutions interactive voice response and voice biometrics

Authentication company Enacomm and voice and data solutions provider Advantel have announced a partnership to provide financial institutions with dynamic interactive voice response (IVR) and other technologies for personalized customer interactions. Advantel will offer AI-powered VPA (virtual personal assistant) banking and the Enacomm Financial Suite (EFS), which includes voice biometrics and customer relationship management (CRM) capabilities, to financial institutions under the partnership. “Advantel’s team of experts designs, implements and maintains powerful converged solutions for businesses worldwide,” said Enacomm CEO Michael

Sequrest to enhance Banking Systems solutions’ security with facial recognition

Cybersecurity firm Sequrest announced it has been selected for a strategic partnership by Banking Systems Ltd of Panama, to implement facial recognition for its NexorONE and Bansoft online banking solutions. Banking Systems chose Sequrest to minimize the risk of hacking and unauthorized account access, and enhance the security of its software, which is used by financial companies including banks, credit unions, eWallets, and payment platforms in 40 countries. “Our company mission is to strive to excel by delivering more than

Canadian consumer ready to replace passwords with biometrics: survey

An overwhelming majority of Canadian consumers (85 percent) is interested in using biometrics to verify their identity or make a payment, according to survey results released by Visa. In a survey of a thousand Canadians, Visa found that nearly six out of ten are already familiar with biometrics, with 57 percent having used fingerprint recognition, and 25 percent using it regularly. Experience with voice biometrics is less common, with 39 percent having used the technology, and only 10 percent using

FPC sensor used in biometric payment card pilot for Bank of Cyprus

Fingerprint Cards is providing touch sensors from its FPC1300-series for the recently announced Bank of Cyprus biometric payment card pilot. The pilot, being lead by Gemalto, is the first of multiple upcoming pilots in 2018 for the world’s largest card manufacturer and also includes Zwipe as a partner. The card being trialed by Bank of Cyprus is a fingerprint activated payment card which utilizes Zwipe’s energy harvesting capacity and biometric engine to enable contactless and contact transactions. It is powered