Alibaba division Ant Financial raises $4.5B in private funding round

Ant Financial (its official name is Zhejiang Ant Small & Micro Financial Services Group), the financial division of Alibaba that owns Alipay, recently raised $4.5 billion private funding round, according to a report by CNBC. Credited as the world’s largest single private funding round for an internet company, the deal gives Ant Financial a valuation of $60 billion. This positions Ant just behind U.S. ride-sharing app Uber ($62 billion), and ahead of Chinese smartphone maker Xiaomi ($45 billion). The funding

Biometrics Research Group publishes report on biometrics and banking

A new Special Report from Biometrics Research Group, Inc. on “Biometrics and Banking” postulates that the financial services sector has emerged as a primary end-user market for biometrics technology worldwide. Biometric Update Special Reports provide analysis and competitive industry intelligence for the global biometrics industry including market size, multiple industry segments, venture capital and other business opportunities, along with in-depth profiles on the best emerging companies and solutions. The firm’s ‘Special Reports’ are sponsored by leading firms within the biometrics

Special Report: Biometrics and banking

This report by Biometrics Research Group, Inc. provides an updated overview and market synopsis of biometrics for the global financial sector. Biometrics Research Group, Inc. believes that the financial services sector has emerged as a primary end-user market for biometrics technology worldwide. By the end of 2016, we believe that revenue will continue to increase to US$2.2 billion and we further estimate that the financial biometrics market will eventually account for almost a third of total biometrics market revenues globally

OCBC Group adds fingerprint authentication to mobile trading app

Singaporean financial institution OCBC Group has developed the OneTouch fingerprint authentication feature and applied the technology to multiple mobile applications for banking and stockbroking. Launched in March 2015, the OCBC Mobile Banking app for iPhones was the first banking app in Singapore to allow customers to access their balances and transaction histories across their bank accounts, credit cards and investments by swiping their fingerprint on their device. The bank has now expanded the OneTouch technology to include brokerage services. OCBC

Chinese app developer releases facial recognition based lending platform

Chinese application developer PING AN TianXiaTong (PING AN) has released facial recognition technology that it will incorporate its wealth management solutions and other services in an effort to create the fastest lending platform in China, requiring only six minutes to complete a loan application. The PING AN technology is based on a complex neural network which allows computers to act like the human brain, thus achieving facial recognition with even greater accuracy than the human eye. The application also compensates

Integrated Biometrics presenting at ID4Africa and other industry events

In an effort to to share know-how and advances in its patented light emitting sensor (LES) film, Integrated Biometrics is sending key members of its leadership and technology team to discuss technological best practices with systems integrators and end users in government, financial, and healthcare marketplaces at multiple high-profile events in the U.S. and overseas this spring. “The past couple of years have seen critical, unforeseen challenges in human migration all across the globe,” said the company’s President Mike Grimes.

Enhancing banking services with biometric authentication

Do you know who is transacting? A typical bank customer visits an ATM a few times a week and only rarely pays a visit to a human teller. In today’s anonymous landscape, how does the bank know who is transacting? The white paper “Enhancing Banking Services with Biometric Authentication” shows how biometrics answers this question while bringing user convenience to the table.

India’s largest asset management company introduces biometrics-based KYC service

ICICI Prudential Asset Management Company (AMC), India’s largest AMC has introduced a paperless, biometrics-based know your customer (KYC) service across its major centres. According to a report in IIFL, clients can complete the KYC process with a fingerprint scan and make transactions of any amount instantly. Advisors no longer have to stock application forms or require multiple signatures from investors. This feature will soon be rolled out to ICICI customer centers across India. This feature will also be available on

Indian company launches tablet designed to manage biometrics-based attendance, financial inclusion

Datamini Technologies has launched the Janunnati Pad, a Windows 10-backed tablet with 3G and 4G, a fingerprint reader for Aadhaar authentication and a built-in magnetic card reader for financial transactions at a price starting at around $180 USD. The new device is geared towards the government sector to manage biometrics-based attendance, financial inclusion and direct benefit transfers. “We are talking to various state governments and are in touch with a couple of banks, insurance firms and logistic companies to market

FIDO Alliance seminar: key trends in strong authentication

Key Trends in Strong Authentication March 31, 2016 – 9:00 am – 4:30 pm New York City Marriott Downtown The FIDO Alliance invites you to learn about key trends in strong authentication for the financial services community and beyond. Our free seminar will be held March 31 in New York City from 9:00 am – 4:00 pm. At the seminar, you will hear experts describe FIDO’s approach to simpler, stronger authentication – and also details on some real-world FIDO deployments