Mastercard and Oxford University unveil framework for mobile biometric banking

Despite a strong consensus among consumers and banks that biometrics should replace passwords for access to financial accounts, knowledge gaps are slowing the transition, according to the report “Mobile Biometrics in Financial Services: A Five Factor Framework,” released Tuesday by researchers from Oxford University and Mastercard. Since 93 percent of consumers prefer biometrics to passwords, according to researchers, and 92 percent of banks want to adopt biometric technology, its adoption should be advancing rapidly. Only 13 percent have deployed biometrics,

Korea Internet & Security Agency developing biometric authentication for mobile banking

South Korean government-run Korea Internet & Security Agency is developing biometric authentication for mobile banking with plans to commercialize the technology by late 2018, according to a report by The Korean Herald. “We are developing an algorithm for authenticating mobile banking with a combination of a fingerprint, heart rate and (an) electrocardiogram,” said Jason Kim, chief of KISA’s security technology dissemination team. “The technology is expected to be much safer than existing biometrics including iris sensors, fingerprint scanners and facial

Digital payments will boost demand for mobile biometric security

Transparency Market Research has published a new research report that shows that the global mobile biometric security and services market has made consistent progress in the last few years due to the increasing demand for smartphones and the rising acknowledgment of the benefits presented by biometric technology. “Mobile Biometric Security and Services Market: Professional Market Research Report and Forecasts, 2017 – 2025” finds that the main driver for the demand from the mobile biometric security and services market is the

SensibleVision releases facial recognition security technology with liveness detection

SensibleVision has launched 3DVerify, which it calls the first facial-recognition security technology specifically designed to support simultaneous multi-factor face authentication on tablets and smartphones equipped with 3D cameras. The new advanced Depth/3D liveness solutions can detect videos, photos and masks, which are all the prominent methods that hackers currently use to exploit 2D cameras on mobile devices. “It’s no secret that every device maker is planning on including 3D cameras on their next generation of phones and tablets, and the

Signicat launches mobile authentication product

Identity assurance firm Signicat has launched MobileID, the company’s new mobile authentication product. In addition to providing fast onboarding and identity assurance to financial service providers using several digital identity schemes, Signicat now offers strong customer authentication (SCA) using the end-user’s smart device. The European Union’s upcoming Payment Services Directive (PSD2) legislation will mandate that many transactions over €30 (US$33.8) must be authorized with at least two-factor authentication. MobileID will enable financial services providers to offer multi-factor authentication in advance

Gemalto study finds 48% of users expect mobile devices to be main ID form by 2025

Gemalto released its ‘Mobile Customer Experience’ report revealing that 48 percent of consumers expect a mobile device to become their primary form of identification by 2025 as a result of biometric technologies. Based on research of nearly 2,000 consumers in the United States, UK, Germany, France, China and Brazil, the report reveals expectations across all aspects of the mobile experience including data privacy. The survey results suggests that the trend of mobile payments increasing in recent years will continue. By

IEEE researchers propose new cluster cloud framework for mobile biometrics

Researchers from the The Institute of Electrical and Electronics Engineers (IEEE) created a high-performance cluster cloud framework to better manage the massive amounts of data related to mobile biometric authentication, according to a report by The Stack. The team conducted large-scale experimental tests (PDF) in which it used a cloud-based biometric authentication framework, or BAMCloud, to achieve a network speed performance that was more than eight times greater than alternate methods. Two other benefits of BAMCloud include achieving a performance

Enfuce, Gemalto offering mobile authentication services in the Nordics

Gemalto has partnered with Finnish financial services provider Enfuce to provide financial enterprises in the Nordics with mobile authentication services. Built on Gemalto’s Mobile Protector Software Development Kit (SDK) and Confirm Authentication Server (CAS), Enfuce’s cloud-based authentication-as a-service solution enables financial institutions, retailers and fintechs to secure their mobile applications. Users can select from a range of authentication factors for transactions including PIN code, fingerprint or facial recognition. Leveraging the capabilities of the Mobile Protector SDK, Enfuce’s customers can deploy

ID R&D launches multi-factor, multimodal mobile authentication solution

Biometric technology firm ID R&D launched a mobile biometric login solution earlier this week at TechCrunch Disrupt NYC 2017, marking the company’s first product. The patent-pending IDSquared combines a simple and intuitive user interface with behavioural biometrics, facial recognition and liveness detection. Designed to provide a seamless UX and improved mobile authentication experience, IDSquared requires users to type a word into the mobile device while looking at the screen. By doing so, uses reveal their face to the front-facing camera

Goode Intelligence forecasts mobile & wearable biometrics to surpass $6.2B by 2022

Goode Intelligence published a new analyst report forecasting that revenues for mobile & wearable biometric authentication will surpass $6.2 billion in revenues by 2022. In “Mobile & Wearable Biometric Authentication Market Analysis and Forecasts 2017-2022 (third edition)”, Goode Intelligence also predicts that by 2022 over 3.3 billion users will be benefiting from biometric authentication. Over the six years since Goode Intelligence has covered the market, it has grown significantly year-on-year with mobile biometric authentication becoming a regular security feature in