FindBiometrics: IDEX Explains How Biometric Authentication Will Make Banking More Inclusive
11 February 2019
In the latest and concluding entry to its blog series on Biometrics for Financial Inclusion, IDEX Biometrics explained how biometric authentication will make it easier for people around the world to gain access to secure financial services. That can be particularly valuable to those with literacy issues, many of whom lack the traditional credentials that many banks currently expect.
According to IDEX, a system that incorporates biometric payment cards and fingerprint recognition sensors would be cheaper and easier to maintain than PIN-based options. It would also be safer, because the owner of an account would need to be present in order to make a transaction. That offers potential benefits to consumers and banks alike, who could gain access to better financial facilities and more clients, respectively.