Fingerprints to Selfies: Why This Technology is the Best Tool to Identify Customers

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Digital identity verification has always been an integral lynchpin of eCommerce adoption around the globe. Since the inception of the internet, businesses have made incredible investments into security while making the complexities of identity verification safe, reliable, and easy to use.

Today, these technologies go beyond the web and are being used on internal systems throughout the supply chain.

In this article, we’ll look at one suite of technologies that have taken the best of all available tools to cover all the bases –from fingerprints to selfies, find out how you can make your business and your customers safer, online.

Going Beyond Fintech

The online financial services industry is one sector that leads the way in terms of online security, and technologies adopted in this field are sure to propagate to every corner of the internet, given time.

Biometric security technologies protect customers and businesses from fraud and ensure online activities are secure.

One such example of technology pioneered by the financial services industry is two-factor authentication. Now commonplace even on social media sites like Twitter and Facebook, 2FA has the user verify themselves with a second proof, like a verification code they receive via SMS or email.

But do biometric authentication systems protect customers without being a hassle? You betcha’. Let’s take a brief look at some popular, real-world use cases.

Biometric Authentication Use Cases

Common biometric authentication tools on the web make it easier for businesses to ensure they’re serving their customers and not fraudsters. And common hardware built into smartphones makes it easy for businesses to implement.

The ubiquity of smartphones allows companies to scan biometric markers, such as the user’s retina, fingerprint, voice, movements, or their entire face –without having to purchase specialized hardware.

Identity Assurance For All

When cross-referenced with biometric markers already stored on file, it’s easy to verify whether or not a user is who they say they are.

At a consumer level, these technologies can be used to verify identity against their passport or provide access to online services for “high-risk actions” like moving funds or changing a billing address.

In order to facilitate this, companies collect and map biometric markers on account creation, and initiate ‘spot checks’ to re-confirm the identity of a user at random intervals or when account changes are requested.

Not Just for Consumers

Biometric authentication goes beyond the KYC process for consumers and can be used internally to ensure systems and infrastructure are used securely as well.

Many businesses have long argued that passwords, key cards, FOBs, and USB keys can fall into the wrong hands and grant access to unauthorized users. Biometric authentication can replace all former modes of security, eliminating the need for gadgets or passwords that can be lost or stolen.

Biometric authentication can make the following more secure for businesses;

• Physical entry to buildings and computer systems
• Access to company hardware devices such as phone or laptop
• Digital read/write access to confidential information on a company server
• Time tracking for payroll via automatic “check-in”
• Tracking employee whereabouts in real-time
• Selfie as opposed to a hand-written signature

Through the use of biometric authentication, companies can also protect their infrastructure from non-human threats as well, such as automated bot attacks, malware, and data leaks.

Pays for Itself

Biometric authentication allows businesses to automate the once time-consuming task of verifying users and the work they do. No more ‘second set of eyes’ required, less human touchpoints, less overhead.

Biometric authentication pays for itself; with less human capital required to facilitate repetitive tasks, businesses can pave, or pay the way for continued automation.

Biometrics have been around for quite a long time –the barrier to entry to adopting such a technology isn’t as heavy as it was even 5 years ago.

What do you think? Which tasks have you automated with the help of biometric authentication? How have your employees and/or customers responded?

Let us know in the comments.

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