Biometrics in Banking & Finance

Balancing Security With Convenience & Exceptional Customer Service

How Biometrics Transform the Banking Experience

Providing an excellent customer journey balanced by enhanced security and regulatory compliance is critical for the financial industry today. 

Biometrics, such as facial recognition and fingerprint technologies, not only combat constant fraud challenges, but also increase efficiencies and ensure customers have a safe, seamless exchange at every banking touchpoint where identity authentication and verification is required.  

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Biometrics in Banking: Addressing Challenges With Precise Identity Verification

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Improve the Customer Experience

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Enhance Security & Fraud Prevention

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Support Regulatory Compliance

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Accelerate Financial Inclusion

Read on to see how banks are using biometrics to solve real-world challenges.

Biometrics for Customer Onboarding

The journey begins when customers enroll their fingerprint or face along with their official ID document at account opening. Biometrics strengthen security for Know Your Customer (KYC) checks, making it harder for unauthorized people to open accounts or impersonate customers.

Technologies like facial recognition cameras and fingerprint readers allow banks to onboard customers quickly and securely — whether in-branch or online. Biometrics eliminate friction points in the onboarding process, leading to higher conversion ratesbetter financial inclusion and an improved customer banking experience.

Real-world use case: Fingerprint readers offer easy enrollment and identity verification for banks in Argentina to prevent fraud and improve cost savings.     

Biometrics for Ongoing Customer Authentication & Verification

Biometrics simplify the way bank customers access and manage their accounts while adhering to KYC and Anti-Money Laundering (AML) requirements.

Secure identity authentication and verification is achieved with a simple look (using facial recognition) or a touch (with fingerprints) any time a customer chooses to bank. Scans are matched to the biometric data users provided during onboarding — mitigating the risk of fraud and regulatory non-compliance. 

Real-world use case: A prominent bank in Singapore delivers fast, accurate biometric authentication to enhance security and delight customers.

Biometrics for Secure ATM Services

Elevate the ATM experience while maintaining the utmost security by replacing traditional pins and cards with simple, frictionless biometric sign-ons.

As ATMs are everywhere — from bank lobbies to dense city sidewalks — biometric sensors must operate reliably under real-world conditions. With HID’s patented multispectral imaging (MSI) technology, fingerprint readers and facial recognition cameras deliver high matching performance regardless of challenging lighting, harsh weather and difficult-to-capture fingerprints/faces.  

These biometric innovations also deliver advanced presentation attack detection (PAD) for fraud prevention for added security in unattended use cases.

Biometrics for Bank Employee Authentication

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Nearly 50% of fraud schemes in banking and financial services are attributed to inside corruption. Therefore, it’s critical to have strong authentication for bank employee access.

Biometric authentication, using fingerprints or facial recognition, can be easily incorporated into a bank’s single sign-on (SSO) or multi-factor authentication (MFA) strategy to create robust, secure access for bank employees. 

Real-world use case: This federal credit union uses biometrics for employee authentication to ensure more secure, efficient access.

Keep up With HID’s Latest Developments in Biometrics

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