Man maintains his balance, poise, and sense of security only as he is moving forward.
The Financial Industry
In a world where access control and identification management are of major importance to countries and companies alike, security comes more valuable by the day. The staggering number of ways that criminals are trying every day to get inside your database, should be a sufficient warning.
Most organized crime gangs around the world are becoming much more involved in computer hacking and identity theft. Financial transactions, trading of shares, confidential data… all are vulnerable today to the Cyber Crime.
Firewalls, anti-virus software, hardware tokens and sms verification are in place to give the maximum protection.
BioSSL more than an answer to a problem.
BioSSL is a replacement for the sophisticated and very non-user friendly tokens. But it can do more, it can identify if the right person is behind the computer. The biometric identification and verification process eliminates double identities.
Today different forums and discussion groups are launched to look at the impact and necessity of using biometrics in online banking.
World Wide Web Consortium launched recently the Web Payment Interest Group : We could not say it better:
“The aim of this workshop is to bring together a wide range of stakeholders to discuss the potential for standards covering Web payments with a view to making it easier for service providers to monetize Web applications, and provide an effective alternative to the native app ecosystem. In essence, we would like to improve the end user experience and give users greater freedom in how they pay, to reduce the burden on developers and merchants, and to create a level playing field for payment solutions providers.”
Applications: Identity programs, Elections, Tax dpt, Immigration.
Changing identity is one of the most common ways of fraud.
The articles give only a glimpse of what is happening today.
BioSSL is a biometric web platform that does not need complicated communication channels. The Internet or a Mobile connection is sufficient
to have a real time authentication.
Embassies, Airports, Border Control, Municipals up to solutions for the harshest environments, where there is no Internet.
Applications: The cloud, mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, automated data collection.
Physically Stolen Credit Cards, digital stolen credit card information, phishing up to calling the user to get his credit card details, the creativity and intelligence of hackers go beyond todays electronic protection.
BioSSL is an omni channel solution and gives an additional security layer to the credit card owner .
Intranet - Extranet - The Cloud
BioSSL is the perfect SSO to secure intranet and extranet platforms.
Shared Confidential information on property servers or in the Cloud, BioSSL works as a web based Single Sign On, wherever in the world the user logs in the web platform, it is secured by the fingerprint and/or face.
Together We Stand: Will Biometrics and Blockchain Build a Joint Future?
Biometrics has firmly entrenched itself as one of the leading technological trends of the FinTech Industry in 2015. While Biometrics have been used for more than 15 years now, over the past 12 months there has become a far greater demand for them.
The market numbers speak for themselves - according to prognosis' from different sources, the size of the market is currently larger than 10 bln USD$, by 2020 this number will reach nearly 24 billion USD$, growing at a CAGR of 17.9%. To add on to this, an investigation by Goode Intelligence has shown, that by 2017 more than a billion people will be using biometric authorization for their banking needs.
A Replacement for PIN
While mobile payments and online banking have firmly entrenched themselves in day to day life, the problem of personal information security on the internet has become exceptionally topical in recent days. It can't be said that the growth in interest is in anyway connected with radical innovation since biometrics has been actively used for more than 15 years now. However, in the past year these technologies have become far more demanded. The results of a vote carried out among the participants of the Money 20/20 conference in Las Vegas show that up to 28% of responders confirm that biometrics will have a huge impact on preventing theft in the system of online payments.
The secret reason for the popularity of the biometric authentication technology is quite simple. What are most popular methods of authentication nowadays? Passwords and PINs, which are, in a sense, precise sequences of symbols, generated by a system or a user. No matter how complex you make the system hackers and cyber-criminals will not be particularly stumped in breaking the code. Plus, there always exists the risk of simply forgetting or losing the password, especially if the password is particularly difficult.
While Biometrical authentication is capable of completely solving these problems. The user will no longer be forced to come up with long passwords to remember. In a sense, now he or a part of him becomes the password.
Simple Yet Secure
This system is both quick and comfortable. Instead of spending time typing in a sequence of numbers and symbols every time you want to access your information, you will have to spend no more than a few seconds making a small, simple gesture - such as putting your finger on a scanner - the authentication procedure will be completed.
Also it is considered very secure. It is self-evident, that biometric specifics, essentially being the physiological characteristics of an individual, are connected only to one particular user, and passing yourself off for someone else with these parameters becomes essentially impossible. These specifics are impossible (or at least, incredibly difficult) to mimic. Of course, some anomalies can happen, such as two people having nigh identical fingerprints, with minimal differences. However, the more biometric technology advances, the more sensitive it becomes to these differences.
It could be even more interesting to look at the possibilities of biometrics in the context of another major technology trend of the current day - the blockchain. This kind of correlation is no surprise - in the same vote put forth at the Money 20/20 conference, the Blockchain took a coveted third place. Many people are talking about biometrics nowadays - but far more are talking about the Blockchain. Both technologies are working in the same direction - securing the safety of monetary transactions in cyberspace. That is exactly why, the idea of combining these two technologies is hardly fringe.
You would think, that the merger of two reliable and promising technologies is capable of doubling the security of your personal information. However, as it often happens when discussing new technological trends, opinions tend to differ.