The worldwide biometrics market is growing at a rapid pace because of the need for increased security and fighting the rising scenarios of identity theft, data hacking, and security breaches. Businesses and governments are all looking for authentication technologies that provide security that can be relied on.
Biometrics is one of these solutions that can fulfill the conditions as well as provide a great deal of convenience to its users. This technology works by authenticating individuals based on their behavioral or bodily characteristics such as iris, fingerprints, gait and more. It is extremely unlikely that users will be able to fake a user’s identity and get past it.
Without further ado, let us take a look at the top current biometric technology trends:
Although touted as the future of financial transactions, mobile payment will still require the use of biometric technology to provide the best security features, cost efficiency and ease of use for its customers. According to a study, a growing number of Australians are accepting the idea of making payments through the web as long as they can use biometrics for authentication.
Mobile payment with biometrics is being used already for higher-value in-store and app payment verification, where the user’s fingerprint can be used to authorise transactions as high as their credit card limit.
Integrating biometrics in online banking has allowed banks and retailers to give their clients a safer way to do payments and transfers to increase customer convenience and loyalty. Although customers were at first apprehensive, the added layer of security from biometrics have helped pacify consumer doubts and improved trust.
Authenticating transactions by using fingerprints, eyes, and face is now a possibility in the banking sector and is a major trend that continues to grow today. Banks such as ANZ, St George Bank, Westpac, ME Bank, ING Direct and Bank Australia are some of the institutions that have already adapted biometric technology in their mobile banking apps.
Immigration and Law Enforcement Services
Agencies in immigration and law enforcement worldwide have long considered fingerprints as one of the most reliable tools for identification. Using biometrics will help strengthen the integrity of a country’s immigration program, as it helps prevent known criminals from obtaining a visa. Aside from that, it also makes legitimate travel a lot easier, and it aids in smooth passenger flow in airports.
With immigration – especially of refugees – being a hot political issue, Australia’s Parliament passed a law back in 2015 that allows law enforcement and immigration agencies to collect biometric data of citizens and visitors at the nation’s borders as an added security measure.
The electronic government applications today are facing important issues with regards to information security and accurate authentication for users. In countries that are still developing, getting access to these government services is not a convenient and simple task. It can be quite a time-consuming process for them.
Using biometrics would enable eGovernment processes to reliably identify its citizens and keep safe the integrity of sensitive data that are stored in information systems.Workforce Management
Biometrics integrated into the workforce management systems is a fast-growing trend since it helps in getting rid of employee time theft and improves identification accuracy. Workers that unintentionally overestimate their time on the job or deliberately misreport overtime cost Australian businesses millions of dollars each year.
Using biometrics in workforce management systems will help achieve faster and higher return on investment by ensuring accountability and productivity in employees.
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