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.

 

Yoti, Synetics introduce biometric digital identity and e-KYC risk assessment onboarding project for banks

Yoti and Synectics Solutions have jointly developed Project Endeavour, a real-time electronic digital identity and e-KYC risk assessment onboarding solution…

 

Small businesses face fraud and compliance challenges with PSD2 deadline looming

Small businesses are not ready for the looming PSD2 deadline, Accertify has heard from a number of different sources at…

 

Korean virtual asset exchange joins MyID Alliance and implements distributed biometric identification

Virtual asset exchange Bithumb Korea will adopt the MyID blockchain and biometrics-based digital ID service to streamline identity authentication and…

 

Mizuho Bank to launch trial of facial biometrics-backed digital ID service for online banking

Mizuho Bank is launching a proof-of-concept trial of its digital ID service, which leverages facial biometrics and device location information…

 

FacePhi enters biometric onboarding contract with Uruguayan financial institution

FacePhi has partnered with Uruguayan financial institution Creditel, a subsidiary of Grupo Santander, to provide it with biometric digital onboarding…

 

Digital banking popularity in U.S. grows amid pandemic, but digital ID is a barrier

Digital banking has surged in popularity during the pandemic, especially as some users of digital banks reportedly have been among…

 

Shinhan Card biometric facial recognition retail payment service now live

Korean credit card company Shinhan Card has introduced Shinhan Face Pay, which The Korea Times reports is the country’s first…

 

Russian central bank’s digital head reports slow progress on national biometric system

Adoption of the unified biometric system instituted by the Central Bank of Russia (CBR) has been slow, surpassing 100,000 users…

 

Trustonic, OneSpan, Nivo, IDYou, Huawei implement biometrics to secure bank and mortgage apps

Korea’s KB Kookmin Bank now offers fingerprint or facial biometrics for a simpler authentication experience through a successful implementation of…

 

Online payment fraud loss to grow 50 percent in Europe by 2024

By 2024, financial loss caused by online payment fraud will cost eCommerce merchants more than $25 billion annually, compared to…

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