BMO deploys biometric authentication tech from BioConnect for business banking
Canadian bank BMO Financial Group and BioConnect announced the launch of a multimodal biometric authentication platform that is integrated with IBM’s security authentication solutions, enabling BMO to offer commercial and corporate clients the mobile biometric authentication platform through BMO Online Banking for Business and the BMO Banking for Business Mobile App.
“We continue to transform the bank with a focus on offering new digital capabilities that will enhance the user experience and align with changing customer expectations, and this partnership is a reflection of that,” explained Sharon Haward-Laird, Head, NA Treasury & Payment Solutions. “Offering a way for our customers to quickly authenticate transactions and payments using biometric authentication vastly improves the customer experience while enhancing security for our clients in Canada and the U.S.”
According to the announcement, BioConnect’s platform curates biometric sensory information, fingerprint, voice, face or eye, to authenticate transactions, providing stronger identity assurance during the authentication process and augmenting the familiar username and password method.
“Biometric-based solutions are going to replace outdated options based on usernames and passwords,” said Jeff Crews, chief customer officer at BioConnect. “We are very excited to be collaborating with both BMO and IBM Canada to leverage the latest available biometric technology into a simple, secure authentication solution for end-users.”
This past summer BioConnect integrated FacePhi’s SelPhi face recognition system into the BioConnect ID platform.