Gone are the days when passwords and PINs were the only sources of user identification. With the invention of smartphones, people are already adopting biometric identification measures such as fingerprint scanning and facial recognition.
Biometrics is no more a fiction concept. From authenticating the individuals to maintain the attendance record to combat fraudulent activities; biometric systems have set new security standards for the organizations.
Biometric sign-in is gaining ground in every industry whether financial, entertainment or retailing industry, they have been used in multiple ways from tightening the security to improving customer experience.
According to the study by Spiceworks, 90% of the businesses are expected to be using biometric identification by 2020. Let’s review some features that are fueling the growth of the biometric market.
Unique Human Features
Passwords and PINs are something that can be stolen and multiple users can have the same passwords. But biometrics is the unique physical and behavioral features of an individual that can’t be stolen or changed and that’s what makes them the secure and reliable verification method. Through various biometrics such as facial, fingerprint, and voice recognition, the user can verify identity within seconds.
Quick and Loss-proof
Though passwords are still used by majority individuals for verification, they are not reliable. While typing passwords, users sometimes tend to forget passwords and even mistype, which results in the blockage of accounts sometimes. Biometrics eliminates such incidents and make verification quick and error-less.
Fraud Prevention
Biometric authentication offers high-security to the organizations which makes it a must-have for every sector. Organized criminals and fraudsters are using technology to exploit user accounts and identities. In all this, passwords are a weak line of defense, hence biometrics leading the way. Integrating biometric authentication facilitates organizations in fighting fraud. Biometrics lets organizations verify the authentic users in real-time hence preventing imposters from accessing the accounts.
Biometric-based identity verification is the most reliable and convenient way to combat identity fraud such as identity theft, account takeover, unauthorized payments, false chargebacks, etc.
Easy Integration
After the introduction of the iPhone X’s Face ID, facial recognition is becoming one of the most adopted forms of biometrics. Every mobile manufacturer is now incorporating this feature.
Following the suit of the mobile industry, now the financial and other business sectors are exploring facial biometrics. The main reason is that face verification doesn’t require any specific hardware to be integrated. Simple mobile and webcams are efficient enough to verify the user’s identity.
Real-time Liveness Detection
Biometrics are the unique features of an individual that always stay with a person and can’t be stolen and exploited. Most of the time frauds occur because of unauthorized use of user credentials. Face identification online eliminates all such incidents because it not only authenticates the identity but also ensures the remote presence of the user.
For instance, the traditional password checks are not reliable because you have no idea who might be entering the user credentials; they can be stolen or hacked. But in the case of biometrics, it’s not possible to get verified without being present at the time of verification.
Enhanced Customer Experience
Businesses are using biometric verification services to enhance their customer experience. Through simple fingerprints and facial scanning, users can verify their identities within seconds. Moreover, biometrics eliminates the human effort required to remember passwords and change them timely. Your face or fingerprint is your ID.
In addition, the big giants like Amazon are exploring biometrics through facial recognition. For instance, now with Amazon’s “smile to pay” feature users can authenticate ID and payments simultaneously without any hassle or extra effort.
