FB pixel

Biometrics in fintech, fingerprint authentication and facial recognition top this week’s news


Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week.

Fintech and biometrics

Deutsche Bank is working with Callsign to trial a mobile antifraud solution which builds a profile of a user. The technology takes into account how the phone is held, its physical location, facial recognition and thumbprint analysis. The bank hopes the new security solution will eliminate the need for customer passwords and plans to extend it to 10,000 members of its staff as part of a larger pilot.

Financial technology experts are predicting that PIN numbers will be obsolete within the next five years as banks turn to biometric authentication technology, such as fingerprint, vein pattern and voice recognition. Several major banks, including Halifax and Barclays, have said that PINs are a “flawed” security measure that is inadequate in protecting customers against identity fraud.

In a guest blog post this week, Rajesh Sharma, VP Mobile Banking & Payment Apps at INSIDE Secure, explored building versus buying mobile payment applications. He states that most bank and major card issuers are at a crossroads considering whether to launch a standalone payment app or add mobile HCE (Host Card Emulation) payment capabilities to an existing bank-branded app and explores key factors for decision making.

In retail news, the Dutch online pharmacy Koopjesdrogisterij has become the first online store to use facial recognition or fingerprint authentication for purchases, using Hoyos Labs’ 1U platform. We interviewed CEO Hector Hoyos about how Koopjesdrogisterij is using the technology to authenticate its customers, and plans to implement the 1U platform in other online stores.

Following the trend of anti-fraud, technology, finance and administrative services firm Equiniti has partnered with the Centre for Secure Information Technologies (CSIT) in Belfast, which is the UK’s lead university center for cyber security technology research. Equiniti is interested in testing some of the biometric technologies being developed in the area of intelligent surveillance systems, relying on face-recognition technology. Equiniti said that these biometric technologies could offer a number of applications across its own business services reduce fraud.

Fingerprint technology

American researchers have released a new study that may help forensic scientists ascertain whether a fingerprint found at a crime scene belongs to a man or a woman. The study details a simple test based on certain amino acids in the fingerprints, in which the levels are twice as high in the sweat of females as in that of males.

Xiaomi integrated Fingerprint Cards touch sensor FPC 1035 and Precise Biometrics’ fingerprint recognition technology in its new Android smartphone, Red Mi Note 3. The integration will generate license revenue starting from the fourth quarter of 2015.

German specialty glass expert SCHOTT announced that the first smartphone models using SCHOTT’s ultra-thin glass D263 T eco in fingerprint sensors are on the market. The material properties of the ultra-thin glass enable very high recognition reliability of the sensors. The company says they are the only one in the world to offer ultra-thin glass which can be chemically strengthened for environments that require a particularly robust material.

Biometric trigger lock

Technology startup Veri-Fire has developed a prototype for a biometric trigger lock that unlocks a handgun only when the owner’s fingerprint is scanned or a 4-digit pin is entered. The guard fits most semi-automatic handguns and the company is in the early stages of developing similar products for rifles and handguns.

Facial recognition

Panasonic’s FacePro has been deployed at The New Jersey Institute of Technology libraries in an effort to reduce theft. The facial recognition technology an support up to 20 face matching cameras per server, enabling the system to match 1,000 faces a second, and browse from a database of up to five million faces to identify a person in three seconds.

UK researchers will participate in a £6 million (US$9.1 million) project to develop next generation facial recognition technology. The teams will work with the Home Office and industry specialists throughout the five-year study. The project is scheduled to begin in January and will also analyze the privacy implications of facial technology.

Identity management

Software House, part of Tycos Security Products, has integrated its security and event management solution with Entertech Systems’ BioConnect identity management platform and Suprema biometric terminals. The integration allows operators to manage a single user record for both standard access control and biometric access, while providing flexible operating modes that can be customized to suit specific security needs.

Identity management firm CrossChx announced the expansion of its CrossChx Identity Resolution Coalition (CIRC) to 200 hospitals across the United States, solving patient identity issues by addressing the challenge of patient identity, more accurate care and better fraud prevention.

Market reports

Closing out the top news of the week, Technavio and Sandler Research published biometrics market reports focusing on the access control market and the signature verification market. Each report details market and geographic segmentation and covers the years 2015-2019.

Article Topics

 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 

Latest Biometrics News


47 Replies to “Biometrics in fintech, fingerprint authentication and facial recognition top this week’s news”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Research

Biometrics White Papers

Biometrics Events

Explaining Biometrics