Biometrics headed for the payments industry

by. Nicole Reyes

The authentication industry is ripe for innovation, largely because remembering and managing passwords is a huge pain for consumers. According to one 2013 survey, 85 percent of people are dissatisfied with current authentication methods.

Because they view financial and data protection as paramount and they’ve built trust with consumers, community financial institutions (FIs) may be in an excellent position to become the dominant innovators in this space. As reported by American Banker, it’s already happening in Canada.

I recently wrote a white paper on one especially intriguing component of authentication innovation – biometrics. Below is a brief snippet; if you like what you see, certainly download the entire paper at no cost.

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