Biometrics in financial services, online authentication, privacy and access control trending this week

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Financial services The Japanese government will test a biometrics-based payment system this summer that will see foreign tourists able to verify their identity and make purchases using only their fingerprints. The pilot project will have inbound tourists register their fingerprints and other data, such as credit card information, at airports. Tourists will then be able to conduct tax exemption procedures and make

A primer on voice biometrics

This is a guest post by Steve Hoffman, CEO of SayPay Technologies, Inc. Overview Speech recognition services like Apple’s Siri and OK Google have become convenient alternatives to the tedious, frustrating and time-consuming effort of keying data into mobile phones. Speech recognition has been around for years and include products like Dragon (Nuance), Cortana, (Microsoft) and Alexa (Amazon). So it’s natural for people to think the terms speech and voice recognition are synonymous. Speech recognition is the exercise of using

SayPay provides voice biometrics solution for Varam Capital

Varam Capital, an Indian micro-finance institution, has selected SayPay Technologies voice biometrics solution to authenticate its clients. Varam supplies loans, savings and other financial services to lower income households. Varam spokesperson Latha Pandiarajan commented, “customer authentication and transaction authentication happens many times during a loan cycle at Varam and with SayPay, we hope that becomes a lot easier and safer.” Integrating SayPay’s biometric authentication solutions into the exchange process reduces cash-based risk for Varam and provides a basis for transaction

Voice biometrics firm SayPay a top startup at 1776 Challenge Cup in Mumbai

Voice biometrics firm SayPay Technologies announced it was one of three top startups at the 1776 Challenge Cup 2016 held last weekend in Mumbai, India. The move comes a week after SayPay Technologies was recognized as one of three startup finalists competing in the inaugural “UBS Future of Finance Challenge” held earlier this month in Singapore. The worldwide tournament gives up-and-coming startups the opportunity to win cash prizes, make international business connections and share their vision on an international stage.

Voice biometrics firm SayPay wins APAC regional UBS challenge

Voice biometrics authentication firm SayPay Technologies was recognized as one of three top startups competing in the inaugural “UBS Future of Finance Challenge” held earlier this month in Singapore. The startup competed at the regional event against 15 innovation companies in a challenge that saw a total of 620 applicants from 52 countries. SayPay CEO Steve Hoffman and CTO Ramsyam Missula pitched the company’s to a panel of eight senior UBS executives, including Chi-Won Yoon, president of UBS Asia Pacific.