will biometrics usher in a new era in banking
TRANSCRIPT
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Will Biometrics Usher in a New Era in Banking?
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In an era where virtual banking is the norm, user
security is paramount for banks owing to cyber threats
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While banks offer several security measures – for
instance, physical keyboards can be replaced with virtual
keyboards while logging in…
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Banks have provisioned two-factor
authentication to improve user security.
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And yet, user security gets compromised many a times.
Since many users find remembering bank account related
information cumbersome…
…such users note down confidential information on a piece
of paper exposing themselves to further risks…
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In order to overcome these challenges, banks
are increasingly inclined to biometrics..
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Biometrics recognize individuals by their unique
physical characteristics. These include:
A. Facial Recognition
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B. Iris Recognition
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C. Fingerprint Recognition
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D. Finger-vein Recognition
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E. Key-tap recognition
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F. Heart-beat Recognition
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G. Voice Recognition
While external biometrics such as fingerprint is relatively easier to replicate,
internal metrics such as heartbeat and finger vein are almost impossible to
replicate making these near failproof.
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