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Financial Services

Biometrics are used in financial services to aid in the flow of money from account opening through payments and transfers. This includes biometric payment cards, point-of-sale and payments systems, transaction processing and other payment technologies, as well as onboarding and regulatory checks, and mobile wallet applications.

Several companies in the know-your-customer (KYC) and anti-money laundering (AML) spaces have recently shared new insights into the industry. The…

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Authorized fraud, myth or reality?

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Veridas can now verify all US biometric ID documents, helps identify Spanish minors

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Moscow court rules in favor of Smart Engines in Citibank ID scanning software row

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Idex moves closer to biometric payment card issuance on 3 continents in 2023

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Biometric point-of-sales vendor gets patent for fingerprint retail payment system

A U.S. patent has been awarded to a company making fingerprint scanners that can be used to biometrically confirm a…

 

Sentry launches dedicated business for biometric crypto cold storage

Sentry Enterprises has launched Sentinel Wallet as a company dedicated to selling its Sentinel Cold Storage Crypto Wallet, which is…

 

Trust at center of digital ID for financial services in Southeast Asia, UK still struggle

Southeast Asian countries increasingly rely on the public perception of service providers’ integrity when considering the deployment of digital IDs…

 

Six key considerations for ethical AI in financial services

By Matt Peake, Global Director of Public Policy at Onfido Biometrics has quickly become embedded in our everyday lives, particularly…

 

EU banks struggle with KYC and AML budgets, but biometrics help applications worldwide

European banks are dedicating the majority of their AML (anti-money laundering) and KYC (know your customer) budgets to manual processes…

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