Each person possesses a unique character and quality. With the advancement in technology, microscopic details can be analysed and scanned which are biometrics of a person enabling a secure and speedy method to authenticate people.
Biometric identification refers to uniquely identifying people based on their distinguishing traits. People now mostly need a fingerprint or facial scan to access many systems including their smartphones. Such biometrics include iris and retina pattern, voice recognition, hand, and veins networking pattern, earlobes and even DNA.
Biometrics offers a secure and user-friendly option than passwords and PINs for authentication. Passwords are hard to remember causing friction for the customers leading to unsafe practices and security vulnerabilities.
Biometric verification provides enhanced security, improves adoption and reduces risk. The use of biometrics for identity verification is expanding on multiple fronts such as mobile payment. Revealed that 1.5 billion people will use mobile biometric software by 2023. A fingerprint scan is the most widely used input for mobile biometrics payments.
Biometric Technology: A Need for Digital Age
The digital age has enabled online businesses to create better business opportunities, reach an unprecedented amount of target audience and last but not least, it has helped online businesses to adopt fraud prevention measures that are highly effective. Biometric verification is one such benefit of the current digital age as it can help online businesses to verify the identity of customers in real-time.
For years, biometric verification was synonymous with fingerprint scanners but it also meant that the cost of installing such a system was not just for the software application but the hardware installation as well.
But now with technologies like face recognition and liveness Ever since more and more traditional identity management systems are witnessing spoof attacks. To minimize the possibility of having break-in attempts, having an appropriate level of liveness detection is useful.
Implementation of liveness detection for the biometric verification process enhances it to reach its maximum potential. This technology builds greater client trust and paving a path of improved business-client exchange and relations. That is the reason biometric authentication is being adopted globally by businesses.
Advantages of Biometrics for Identity Verification:
Biometrics has numerous advantages for all types of organisations and institutions. Physical biometrics, non-physical biometrics, and emotional biometrics are one of the trusted security and fraud prevention technologies used around the globe.
The use cases of biometrics are expanding and are expected to deliver more value in the future. In 2018, the global biometric system market revenue was 21.8 billion USD and is expected to grow even more by the coming few years. Biometrics are being utilised by many businesses for an array of operations.
Due to extreme precision in results and real-time results biometric technology has gained acclaim among industries. Face Recognition technology is no more a new thing, but they are a big thing due to a wide range of usage. There are a lot of perks of using biometric identity verification as biometrics are:
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