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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.

Payments giant Visa showcased its pay-by-palm biometric payment technology at an event marking the transformation of its Singapore Innovation Center…

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ID-Pal makes headway in U.S. IDV market with partnerships and plaudits

ID-Pal’s 2023 launch in the U.S. market has led to several significant deals for the compliance-focused ID verification company, as…

 

Biometric payment cards launching in Japan, Turkey

Biometric payment cards and access cards from Idex Biometrics and South Korean-headquartered Kona I are coming to Japan. Credit card…

 

UNHCR biometric program facilitates cash aid delivery to 39K Afghan returnees

The UN Refugee Agency (UNHCR) says one of its cash-support programs, “Forcibly Returned Afghans Enrollment (FARE)” in Afghanistan, has provided…

 

Carelessness puts consumers and banks at risk in the UK

A vendor-funded survey of UK adults finds many of them are cavalier about ID verification online. One-third, in fact know…

 

FinCEN underlines financial sector collaboration to address digital identity threat

Following the release of its Identity Financial Trend Analysis, representatives from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN)…

 

UK updates guidelines for Right to Work digital identity checks

The UK government has updated guidelines for employers for Right to Work digital identity checks, clarifying details on using digital…

 

Cybercriminals use malware to obtain face biometrics, break into banking apps

Chinese cybercrime group GoldFactory is creating malware to attack Android and iOS that steals face biometrics and uses them to…

 

Flurry of deals to secure ID verification and KYC in banking, gambling, rentals

As identity theft threats increase, industries with ID verification needs are seeking – and keeping – partnerships that supply solid,…

 

IDnow, IOTA Foundation, and others join a compliance consortium for European AML

The IOTA Foundation, IDnow, walt.id, SPYCE.5, and Bloom Labs are forming a consortium to make crypto asset service providers (CASPs)…

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