Seamless financial services: the challenge to deliver both security and convenience

This is a guest post by Xavier Larduinat, Head of Banking and Payment Innovation at Gemalto. Since the dawn of the smartphone just over 10 years ago, consumers’ approach to banking and payments has changed radically. For many, the ability to access account information or make payments via an app has become so prevalent that physically visiting a bank branch is a novelty. While specific services might still need to take place face-to-face, for most people a smartphone represents the

Blockchain, biometrics, and the future of financial services

This is a guest post by James Stickland, CEO of Veridium. Continued innovation in financial services is driving more banks to take a closer look at digital currencies like Bitcoin. With more consumers and enterprises embracing this new trend, it is essential for financial institutions to get on board and fully understand the impact that digital currencies and the related technology of blockchain will have on their operations and security. So what is blockchain? Why are banks embracing this technology?

Humaniq launches financial inclusion app with biometric authentication

Humaniq has launched its Blockchain-powered financial inclusion app. According to a company statement, the app will enable the world’s 2 billion-plus unbanked people the opportunity to start making payments using biometric technology and UI crypto wallet. The Humaniq ‘LITE’ version of the app will be available for Android on July 31 and will be the focus of a pilot program that will soon be launched in Ghana, West Africa. For the first time, HMQ tokens (Humaniq coin) will become available

Ping An to provide AI technologies to Chinese financial services firms

Ping An Insurance (Group) plans to offer its latest artificial intelligence technologies to other financial services providers throughout mainland China, even before providing them to the company’s own subsidiaries, according to a report by South China Morning Post. Jessica Tan, chief operating officer at Ping An, said that the strategy would help “level the playing field” by enabling smaller financial services firms to compete against the country’s internet giants. Following a pilot testing at Ping An-backed peer-to-peer lender Lufax, and

The future of biometrics and authentication

This is a guest post by Jeff Nolan, CMO of SecureAuth. As the threat landscape broadens, it’s essential that organizations adopt techniques that bring greater security and ‘close the front door’ to attackers, as stolen credentials are still one of the biggest threats. But at the same time, it’s essential not to put more barriers in the way of users and bother authorized users with processes unless there is a risk. Fortunately, there are multiple methods of authentication that are

Biometric ID firm AimBrain has closed its $5.1m financing round

London-based biometric identification startup AimBrain has closed its £4 million (US$5.1 million) Series A round, according to a report by B Daily. Founded in 2015 by Andrius Sutas and Alesis Novak, AimBrain’s latest round of funding has been led by BGF Ventures alongside Episode1, Entrepreneur First and angels including Simon Rozas, Chris Mairs and Charles Songhurst. The company will use the funds to grow out its ‘biometrics as a service’ offering, which is primarily targeted at financial services businesses and

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

Navigating FinTech Disruption

Navigating FinTech Disruption July 10 – 14, 2017 Silicon Valley Navigating FinTech Disruption is a one-of-a-kind opportunity to learn about the latest trends in FinTech, directly from the Silicon Valley insiders. Designed specifically for financial services executives, the program includes 5 full days of immersive experience with the most innovative Silicon Valley companies and presentations by experts to provide insights into the impact of technology innovations on finance. Past attendees include Bank of Queensland, National Bank of Belgium, IAG New

Bytes Systems Integration launches biometrics-as-a-service solution

South African IT services provider Bytes Systems Integration has launched cloud-based biometric solution BioVault, according to a report by IT Web. Bytes developed and hosts the new cloud biometric service, which enables financial services providers to access biometrics without the risk of an upfront capital investment, according to Nick Perkins, divisional director of identity management at Bytes. BioVault allows companies to rent devices for capturing biometric data, as well as demographic information, a photograph, a signature and relevant documentation —

Personal banking: meet Alexa, Siri and Cortana

This is a guest post by Michael Boukadakis, the founder and CEO of Enacomm. Artificial Intelligence (AI) is no longer science fiction. It’s an emerging business technology that is beginning to transform industries, including banking. Oxford Dictionaries defines AI as the “theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.” Once a futuristic concept, one-tenth of companies in the financial services, manufacturing, retailing,