The Role Of Biometric Authentication In Recent Smartphone Launches – Biometric authentication is becoming an integral part of personal and commercial security solutions. In 2022, the market for biometric systems will be 42.9 billion dollars. Experts expect it to grow rapidly in the coming years, reaching $83 billion by 2027.
Biometric technology is becoming increasingly common, especially in the banking and fintech sectors. For example, another study found that people are more open to facial recognition in banks (54%), as well as in airports (55%) and medical offices (53%). Additionally, 53% of credit card users are ready to switch banks if their current one does not allow biometric authentication in mobile banking.
The Role Of Biometric Authentication In Recent Smartphone Launches
Biometric security for banks is seemingly unmatched due to the unique biometric characteristics of each person. Biometric banking systems are more secure than those using conventional authentication methods. However, such solutions have their weaknesses that can be exploited by cybercriminals.
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This article will review the meaning of biometric authentication, explain the main types of biometric security, and explain how it works. You will learn about biometric security indicators, their benefits, key features and how this technology can be used in banking.
As experts in banking software development, we will discuss the risks of using biometric authentication and how to address security issues. Our NFT and Trading Market Automation Platform Development Project will be illustrative.
Biometric authentication is a cybersecurity procedure that uses a person’s unique biological characteristics (fingerprints, voice, retina, and facial features) to confirm their identity. When a user logs into their account, the biometric authentication system compares their unique biometric features with their database.
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This method is more secure and convenient than conventional techniques, such as identity cards that can be stolen or passwords that can be guessed. Biometric identification is difficult to spoof because it uses different characteristics to verify identity.
Different forms of biometric technology and data give rise to different types of biometric security. The type of hardware or software you are trying to access and the biometric security system that protects it determines how the system authenticates you.
DNA extracted from blood, saliva or hair samples are examples of biological material. It is extremely accurate and is often used as evidence in criminal cases. However, in most situations, the analysis should be faster for security checks.
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Morphological biometrics measure physiological characteristics, studying the face, hand, iris or voice structure. For example, smartphone biometrics allow you to unlock the device using your fingerprint. Also, the airport security system matches your facial structure to that on your passport when you go through the scanner.
Behavioral biometrics capture the distinguishing characteristics of what you do and how you do it. For example, each person types on the keyboard in a special way or works a little differently. Also, our handwriting is different enough that artificial intelligence can consistently identify people with it. A combination of surfing patterns and specific technologies can create a unique browsing fingerprint.
Scanners for biometric security systems are powered by special software that processes the collected data. Their design varies greatly depending on the type of information they receive. For example, it can be used with professional equipment or small scanners on your smartphone.
Biometric Payment Card (fingerprint Authentication)
The enabled scanner records biometric information for identity verification. Once biometric data has been collected and mapped, it is stored to accommodate future access attempts. This information is often encrypted and stored on a remote device or server.
The accompanying software automatically digitizes the scans and compares them to an existing database. Access is granted if the data sample matches. In this way, unique biometric data replaces other forms of identification, such as passwords.
Before integrating a biometric security system for online banking, you must choose the information to be collected. Some biometric characteristics are easier to measure than others. The main options to consider are:
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Facial recognition algorithms use convolutional neural networks (CNNs) to create and compare facial templates or “maps”. The latter captures the appearance and position of the main facial features (nose, eyes, mouth). Facial recognition is one of the most widely used biometric verification technologies for banking security. This method is quick and simple, as an ordinary smartphone or laptop camera can take pictures of faces.
To build a biometric template, the tilt orientation of a human fingerprint is scanned and digitally recorded. Models are stored in datasets. Modern applications use scanners instead of old-fashioned paper and ink. To provide a fingerprint for contactless identification, a person must place a finger on the plate or hold it in front of a scanner.
Voice recognition technology captures frequencies, tones and accents, which then become unique units of speech. Popular digital assistants use voice recognition to perform their tasks faster and more accurately.
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The retina can only be scanned from a close distance and takes some time. However, this authentication method is quite accurate. Biometric iris scanners are less accurate but faster and can be done from a greater distance. The latest smartphones are starting to include retina and iris scans for authentication.
You can use static or dynamic signature recognition. Static recognition involves an algorithm that takes a visual image of a handwritten signature and compares it to a previously recorded one. Dynamic signature recognition evaluates timing, tempo and pressure to compare it to known templates.
Near-infrared light is used by finger and hand vein scanners to take pictures of blood vessel patterns near the surface of your skin. While duplicate fingerprints can fool fingerprint scanners, blood flow is more difficult to imitate.
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Each person has a unique gait, way of walking and running. This is different based on factors including body size, movement speed, stride length and width, angle and other information captured by the camera. Gait models can be used for validation, diagnostic testing, sports science, medical research, etc.
The shape, area, length, width and thickness of each finger are recorded during the biometric scanning process, along with the distance between each finger. The latest finger geometry systems use three-dimensional imaging for greater accuracy.
Also, a person’s DNA, ear shape, typing style, smell, heart rate and other biometric characteristics can be used for biometric identification.
Biometric Authentication Technology Solutions
Biometric banking technology helps financial organizations improve security and governance. Banking software providers prefer simple biometric data to be collected using mobile sensors or cameras. So facial, voice and fingerprint identification are the most popular approaches among neobanks. That’s how they work.
When an account is opened, the bank must confirm the customer’s identity to meet KYC and AML compliance obligations. Biometric identity verification allows banks to digitize the login process. To open a bank account, new customers must take a photo of their ID card and provide their biometric data.
Thanks to biometric authentication, we can now use our mobile phones to pay instantly. All it takes is a fingerprint scanner or facial recognition. Biometric authentication is also useful for customers who want to transfer large amounts of money. Banks can verify a customer’s identity by asking them to repeat the biometric authentication procedure.
Facial Biometric Authentication
Today’s online identity verification relies heavily on biometric authentication. There are several advantages of biometric systems for the banking industry. Let’s focus on the most important.
Biometric authentication in banking products such as banking applications brings access control to a whole new level. Customers can be sure that their funds and sensitive information are well protected.
Biometric security for online banking eliminates the frustration of frequently forgetting strong but complex passwords. Unlike remembering a password or code, placing your finger on a scanner, taking a picture or even talking on the phone does not require significant effort.
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Because biometric authentication relies on a person’s unique physical characteristics, such as fingerprints or facial features, it can be accessed 24/7. Without additional means of authentication, the biometric scanner allows you to log in from anywhere at any time.
Biometric scanning saves bank customers time and provides a seamless user experience, as it is much faster than typing a password, using a key or entering a PIN.
Unique combinations of biometric characteristics can be difficult to counterfeit. Biometric security dramatically reduces the risks of phishing, a technique used by cybercriminals to find sensitive information.
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Hardware and software for biometric authentication are relatively simple to deploy and use. Biometric authentication can provide the highest security in the identity verification process because it does not require the user to use a password or username.
Authentication methods are advancing along with technology. The latest step in this direction is behavioral biometrics, which takes people’s behavior into account to determine the legitimacy of banking customer transactions. This includes the way they type on the keyboard, the location they often perform operations or their shopping habits.
If you want to implement biometric security in mobile banking, you need to include some critical elements. Below are the basic functions for accurate biometric identification:
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Biometric scanning cannot be the entire registration process. Banks should provide an extra layer of security by requiring phone number, date of birth or password verification.
By issuing a one-time confirmation code, this function validates the transaction Credentials. It is especially important for significant financial transfers, changes to personal information and high-risk activities.
Include important mobile security measures like root detection, advanced obfuscation, hacking and debugging protection. Fighting the possibility of a crucial risk due to a cell phone
Biometric Authentication: The Key To A Passwordless Future?
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