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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.


Sumsub says digital ID can speed up onboarding in emerging markets

The use of digital ID technologies, alongside government databases, can substantially speed up the identity verification process in emerging countries….


Application of biometric face identification technologies in financial institutions

By T. R. Abdullin, T. V. Shipunov, M. N. Zakirov, R. L. Zainulin, A. A. Shnyrev, and A. A.Bunyatyan of…


Startup wants every camera to be a biometric authenticator

A $3 million seed round is going to a biometric ID and payments firm close on the heels of a…


Scottish schools’ canteen facial recognition ‘likely infringed’ GDPR: ICO

A letter from the Information Commissioner’s Office (ICO), the UK data protection authority, has told North Ayrshire Council (NAC) that…


Focus on bank’s role in digital wallets gets sharper

It is the second month of 2023, and seemingly everyone wants in on what could be the awakening of banks…


Password inertia keeping consumers from easier payment authentication

Two separate reports have highlighted new trends regarding the adoption of novel payment authentication methods. The first one, resulting from…


Fintechs sign up for biometric customer onboarding from Ondato, Onfido, ID-Pal

Identity verification and selfie biometrics providers Ondato, Onfido and ID-Pal have announced new fintech customers. Lithuanian know-your-customer (KYC) solution provider…


African demand for digital ID infrastructure growing, as is fraud: Smile Identity report

Digital ID verification company Smile Identity has highlighted increasing interest among African countries in developing critical digital identity infrastructure. This…


New biometric identity verification platform from Trulioo promises easier compliance

A new global digital identity platform has been introduced by Trulioo to provide trusted user experience and regulatory compliance while…


Face and fingerprint biometrics for retail payments advancing by inches

Biometric technologies for retail payments made up a pair of the most-read articles of the week on Biometric Update, in…

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