Transforming financial services IAM with biometric authentication
This is a guest post by John Spencer, Chief Product Officer at Veridium.
Identity management for financial services began as the teller or manager knowing each customer individually. Of course, as banks became too big for everyone to be on a first name basis, identity management took the form of signature matching, passbooks, and, if you had a lock box in a vault, a key. These systems were intentionally inflexible and inconvenient, because it was harder to bypass them.
The advent of the computer age pushed financial institutions to use the digital analogs for these physical systems: PINs and passwords. These increase flexibility – a customer or employee could access an account at any time from practically anywhere – but sacrifice security for the sake of convenience. To be secure, PINs and passwords need to be long, complicated, and changed regularly: Three things customers have no interest in.
Today, identity management is undergoing a revolutionary change as biometrics allow companies to combine the convenience people want with the security that both people and organizations need. Authentication processes need to make accessing accounts secure but still convenient for customers while adhering to emerging laws and regulations. Biometrics offers a fast and effective way to verify end users while minimizing risk when deployed using a secure platform.
In Veridium’s “Transforming Identity Management with Biometric Authentication” webinar on June 21st, 2018, you’ll learn how three financial services companies from across the world, including a private investment firm, a prominent Swiss bank, and a major trading organization, have deployed a biometric authentication platform as part of their identity and access management strategy. We will explore the key factors that make up a secure biometric authentication platform, and discuss the details of deploying within different environments, including
In this webinar you’ll learn about:
● Using enterprise-ready solutions to replace passwords with multi-factor biometric authentication – including 4 Fingers TouchlessID, face recognition, and touch recognition – for employee and customer access.
● Maintaining a highly secure-yet-convenient user experience across any channel: ATM, app, and personal computer.
● Providing users with fast, easy, and seamless enrollment and verification.
About the author
John Spencer is a seasoned IT Executive with 30 years experience in the software industry. John’s focus is on the development of Veridium’s product offerings, as well as looking into the future and detailing the product roadmap.
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