3 Trends to Watch in the World of Biometrics in 2017
Because of the advanced nature of hacking, identity theft, and other security breaches, traditional authentication methods are now obsolete. As a result, governments and businesses have had to look for a more secure and reliable way to protect data. They have found the solution in biometrics.
Biometric technology uses body or behavioral characteristics such as fingerprints and facial recognition to authenticate individuals. Its effectiveness has led to the rapid growth of the global biometrics market. According to a Market Wired Report, the market will be worth US$41.5 billion up from US$14.9 billion in 2015. To better understand this thriving field, here are trends to watch in the world of biometrics in 2017.
1. Immigration and Law Enforcement
Immigration and law enforcement agencies are using now biometrics to quickly and accurately identify individuals. A case in point is Hawaii where immigration authorities have established a mobile biometric screening program.
The US is doing everything in its power to secure its borders. This is why a growing number of businesses are consulting EB5 immigration law firms such as Hirson Immigration to help them with business and investment immigration.
2. Mobile Payments
Mobile payment systems are the future of the finance world. By 2019, global payments are expected to pass the US$1 trillion mark. Knowing the value of securing this much money, mobile companies are rushing to include biometric authentication in their devices. Apple led the way in biometrics with Touch ID – a feature that allowed iPhone users to make purchases on iTunes using only their fingerprints.
It quickly followed up on the success of Touch ID by introducing Apple Pay, which uses both biometrics and near field communication to authenticate purchases. Banks were quick to recognize the value of such a feature and soon added biometrics to their mobile banking apps for use with Apple Pay.
3. Online Banking
Banking or shopping online is a tedious affair. You must remember endless passwords and credit card PINs and always fear that they might fall into the wrong hands. With the rising cases of identity theft, this is a valid fear. However, these fears are now a thing of the past. Banks and online retailers have recently introduced biometric authentication on their online platforms. As a result, using your laptop’s fingerprint sensor to authenticate your purchases is now possible. You can also use the webcam for facial recognition.
The increasing number of data security breaches has forced business and governments to adopt biometric authentication technology. By using the body and behavioral markers, biometrics are difficult to fake or hack. For this reason, this technology is being widely adopted by immigration and law enforcement agencies.
This makes it easier for these agencies to secure a border crossing or airport. Mobile payment systems are also including a fingerprint sensor to authenticate payments. Online banks and retailers are also following suit. Now, they require you to use a laptop’s webcam or fingerprint sensor for facial recognition and fingerprint input before you can make a purchase.