Biometric Verification is revolutionizing globally because it helps verify individuals effectively and efficiently. Businesses are readily adopting this new technological advancement in order to avoid any sort of identity theft.
Biometric Verification is revolutionizing globally because it helps verify individuals effectively and efficiently. Businesses are readily adopting this new technological advancement in order to avoid any sort of identity theft.
It goes without saying that compliance regulations are pretty strict when it comes to collecting biometric data from anyone. A study found that by 2020, biometric technology will be used to authenticate users by 90% of businesses.
Companies like to use biometrics for verification and provide access to their customers. Biometric identification can help provide a more secure, but less expensive, alternative to user access than the old traditional identification methods such as PINs and passwords.
A Technology that Induces Biometric Verification:
The US biometrics market, in 2016, reached $ 3.52 billion and is expected to grow significantly over the next decade. For biometric verification solutions, the global market is estimated to be more than $ 2.1 billion.
Biometric verification technology ignores privacy concerns, but its use is growing enormously in almost all sectors such as healthcare, education, travel, financial institutions, etc. for safety reasons.
Most people may have concerns, such as that biometrics compromises privacy, but even then the reality remains alive in this era of digital fraud. It has the following advantages:
• Biometrics ensures accuracy
• The system eliminates major security threats
• Many biometric solutions are inexpensive
• Easy to use
• Increase in User Adaptability
The following are the main areas in which biometric technologies take over the identification process:
Airport Security Mechanism
Let passengers bypass security and transform the flight experience. Facial biometrics can remotely identify known criminals. With biometric machines for self-service, passengers get on faster. This technology is widely used in airports to improve workflow and execute the security process with greater precision. Face verification techniques will replace tickets in the near future. to carry out all processes at airports in next to no time. Cool right?
A Complete Attendance Check
Make employee attendance more accountable. Eliminate timesheet fraud and buddy triplet. Improved productivity and saves money for hours not worked.
Protection From Potential Criminals
Protection of civil society through biometric identification of criminals. Criminals can be remotely monitored and caught using biometrics before an incident occurs. The study found that Americans wholeheartedly agree with the use of facial recognition technology to track down criminals. The FBI and other law enforcement agencies in Maryland, California, Ohio, and Florida are using facial recognition as a new weapon to track people.
Secure Banking
Rescuing banks from cybercriminals and physical threats. Make sure visitors are who they say they are. This technology is used to gain customer trust through improved security. Banks must adhere to the KYC and AML controls as specified by regulators. When performing the identity verification process, biometric technology is of great help in streamlining the cumbersome process. This technology is widely used to identify and meet customers in commercial sectors such as banks and other financial institutions to comply with KYC regulations.
Online Banking is the Key to Future
Protection of Internet banking customers by removing passwords and PINs. Users no longer have to memorize complex passwords and get stuck on login screens. The risks of identity theft and account fraud can also be reduced by using a biometric security system for online banking.
Contactless Purchases is Possible Now
Replacement of traditional payment cards with biometric cards to secure them. Payment authentication with PIN or OTPP is a thing of the past with biometric cashless purchases. According to Biometrics Research Group Inc. According to the report, mobile payment transactions worldwide are expected to reach $ 750 billion in 2020 with more than 700 million users.
Hotel Security System
Elimination of the need for keys, magnetic stripe cards, chips, or RFID for registration in hotels. No more incidents with lost keys or cards, just unrestricted access to guest biometric data.
Security of Systems
Make your PC security indestructible with a biometrically activated login. Forget passwords, now a touch of your finger or finger is enough to log into your PC.
It All Narrows down to
When it comes to corporate identity, it plays an important role and biometrics plays an important role in it, it is an essential part of the recording and tracking of a company. they are concerned with what they make accessible. The Biometric verification service has made this cumbersome verification process much easier. Biometric verification provides the company with protection against a range of identity theft-related frauds. In order to ensure the security of companies due to a large number of dynamic fraud cases, biometric technology is a simple solution to a cumbersome identity verification process.
