Any company providing online services is facing increasing identity theft, forgery and fraud issues. At the same time, customers demand convenient and quick processes. For being compliant with KYC, AML and data privacy regulations, service providers need to be sure of their customers’ and users’ legal identities. Therefore, the online services industry faces the challenge to deliver strong and at the same time intuitive authentication and identity proofing processes. Key Takeaways: |
- Biometrics & Privacy are not a contradiction |
Biometrics is one of the most visible trends in authentication and authorization. Particularly in the financial industry, biometrics under PSD2 is increasingly considered as a second, secure factor. Also, Entry-Access systems commonly use biometric features, such as fingerprint or face recognition, for authentication. But probably the best integration into everyday life has been achieved by the smartphone manufacturers, e.g. Apple with Touch and FaceID. The question is: Why is biometrics of immense importance for modern identity management? Key takeaways: |
· Only biometrics really enable passwordless authentication |