IT ProPortal: How biometric authentication could save the ‘financially excluded’

26 October 2018

By Stan Swearingen, CEO, IDEX Biometrics

Fingerprint authentication will eradicate a number of obstacles that stand in the way of financial inclusion, as well as enabling individuals to hold on to their financial independence for longer.

Though the majority of the global population possess bank accounts and take financial independence as a given, there are still 1.7 billion adults that remain unbanked today. Those deprived of this financial independence are stripped of opportunities to engage in the economy and wider society consequently. As a result, there are fewer ways for such individuals to pay bills, they have limited financial protection, employment limitations, zero credit record, and much less lending opportunities.

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