Citibank executive says banks should adopt biometrics to authenticate mobile users

A cybersecurity executive strategist at Citibank recently spoke at the EmTech Asia 2016 conference where he emphasized the need for Asian banks to adopt biometric authentication solutions for mobile users instead of using PINs and SMS-based OTPs (one-time passwords), according to a report by ZDNet. Tony Chew, Citibank’s global head of cybersecurity regulatory strategy, said that banking apps ought to add support for biometric technology, and condemned the apps for lacking “imagination and creativity”. He said the industry must undergo

FPC year-end report details strong revenues in 2015

Fingerprint Cards (FPC) has issued its year-end report for 2015 in which the company detailed revenues of SEK 2.9 billion (US$345 million) for the year, representing a 1,142 percent increase over the previous year. Meanwhile, FPC saw an operating profit of SEK 910.3 million (US$108 million), reflecting a loss of SEK 145.2 million ($US17 million) compared to the previous year. The year-end report comes a couple months after FPC announced that its revenue guidance for 2016 is approximately SEK 6.5-8.5

GAO report finds slow progress to biometric exit system

The Government Accountability Office (GAO) is advising the U.S. Department of Homeland Security in a new report to reveal a new time frame for implementing a biometric exit system at U.S. airports. The Intelligence Reform and Terrorism Prevention Act of 2004 explicitly required the accelerated development of an automated biometric entry and exit data system. While the DHS made progress on the entry portion of the entry-exit system, the exit portion was never implemented. Congress repeated its demand for a

Goode Intelligence names five key drivers of biometrics adoption for financial services

Goode Intelligence has published its Biometrics for Financial Services analyst report series, which among other things identifies the top five trends that are driving the adoption of biometrics for financial services. The biometrics for financial services market is growing at an alarming rate, with Goode Intelligence projecting the market to be worth over US$11 billion by 2020. Leading the five key trends is the expectation that biometrics will eventually replace PINs for ATM security in different scenarios, including cardless using

Top trends affecting global iris recognition market through 2020: report

Technavio has published a new report that analyzes key trends expected to affect the global iris recognition market from 2016 through 2020. Based on Technavio’s projections, the global iris recognition market is expected to grow at a CAGR of over 21% to reach nearly US$5 billion by 2020. In the report, Technavio’s ICT industry research analysts identify the top three trends as iris recognition technology’s introduction into multimodal biometrics, its adoption in the BFSI sector, and its use in the

Americans cautious on exchanging biometric data for improved government services

Accenture released the results of its latest #AFSFedPulse survey which questioned people about their willingness to share personal information, including their cellphone number, fingerprints or iris scans, in exchange for improved government service. The findings concluded that citizens have a mixed response to the use of their personal data in exchange for a more streamlined government. Unsurprisingly, the majority (67 percent) of respondents said they had no problem with sharing their cellphone number with the government. The younger generation was

GenKey healthcare solution shortlisted for Africa Healthcare Award

GenKey’s biometrics based healthcare solution has been shortlisted for the ‘Solution of the Year Award’ in the category ‘Awards for Technology and Solution Providers Operating in Africa and/or Exporting to Africa’. The Africa Healthcare Awards recognize excellence and achievements in the field of African healthcare provision; as well as recognizing new international solutions and technologies that have the potential to create positive change in Africa. The awards are judged by an expert panel drawn from senior management from African hospitals,

Morpho named 2015 “Supplier of the Year” by Vodafone

Morpho (Safran) announced today that that it has been named the 2015 “Supplier of the Year” by telecommunications company Vodafone Group. The annual awards ceremony honors the best supplier performances and recognizes outstanding performance in supporting Vodafone’s operating efficiency and delivering greater benefits to their customers. Florian Lissmann, Group Terminals Commercial Director at Vodafone Group, commented: “The security of our customers is Vodafone’s highest priority. The SIM is a critical element in Vodafone’s mobile network security architecture. Morpho’s support for

Indian gov’t to link food ration cards to Aadhaar

The Indian government has announced that it intends to update its ration card system so that it can take advantage of Aadhaar. Aadhaar is the 12-digit unique identification number issued by the Indian government to every individual resident of India. The Aadhaar project aims to provide a single, unique identifier which captures all the demographic and biometric details of every Indian resident. Currently, Aadhaar has issued over 900 million Aadhaar numbers, and has enrolled approximately 850 million people, with a

VerifyMe launches developer portal

VerifyMe, Inc. has initiated the release of version 2.0 of its authentication solution by launching the VerifyMe Developer Portal for easy and direct access to VerifyMe’s application programming interfaces (API’s). VerifyMe’s version 2.0 platform offers fast and strong authentication of several attributes including geo-location, biometrics, knowledge factors and possession factors while VerifyMe’s API’s gives enterprise application developers the resources and support needed to integrate VerifyMe’s multi-factor authentication product. “The core strength of any platform lies in the abilities of developers