According to a whitepaper by Mobey Forum, biometrics can be used payment services and mobile transactions more secure. The research highlights the fact that biometrics can be used in different areas of financial services including online dealing transactions, insurance, and employee screening.
The survey shows that banks showed the most interest in implementing biometrics in near future, with handset manufacturers also planning to integrate biometric capabilities into their devices.
Mobey recommends banks to carefully choose the factors like system architectures, biometric modalities, and proprietary or open solutions, security, and collaboration versus competition while deploying biometrics.
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