Biometric verification is not just a buzzword being used but is a milestone achieved in this regard. Fraud landscape is gaining grounds so security requirements are quickly evolving to demand a rigorous approach to authentication. In 2016, the biometric market in the United States reached $3.52 billion U.S Dollars and is expected to grow significantly in the coming decade.
Traditional methods of authentication, for instance, username and password, SMS-based two-factor authentication have fallen out of the box due to various security vulnerabilities. Face recognition technology is a more sophisticated and robust authentication system to mitigate the potential of these vulnerabilities including identity theft and online fraud. Most of the people may believe that it is jeopardizing personal privacy even then the reality remains eminent that it brings many benefits to daily lives, as in:
- It ensures accuracy
- The system expels major safety threats
- Many biometrics solutions like facial recognition are cost-effective
- It is easy to use
- User acceptance is increasing
- No contact is required as in case of face verification
- Difficult to fool
Types of Biometric Verification
Biometric authentication has many many applications as it is a security process that relies on the unique biological characteristics of an individual to verify that he is who he says he is. Biometric verification technology is a comparison of a biometric data capture to stored, confirmed authentic data in a database. The biometric technology comprises many different types, including but not limited to these:
- Fingertip recognition: Analyzing fingertip structures to identify users
- Iris recognition: Detection of specific features in the iris of the eye
- Face recognition: The technology is based on features like nose width, chin, and jawline, using face recognition algorithms that map the face.
- Voice recognition: Used for speaker’s voice authentication
- Palm recognition: Detects vein patterns or hand geometry of the user
Applications of Biometric Verification
In this era, we all have mobile phones so this biometric verification story should not sound so futuristic. For instance, iPhone touch ID is known for years already and it completely revolutionized the way smartphone developers approach user authentication. According to Mobile Payment Security Biometric Authentication & Tokenisation 2018-2023, Juniper Research forecasts that biometric authentication will increase from an estimated 429 million in 2018 to over 1.5 billion in 2023.
As biometric authentication has a lot of potential so its booming usage in travel and airline industry is natural. American Airlines is using face recognition technology to board international flights of Dallas/Fort Worth International Airport (DFW). Facial recognition is used to verify the people’s identity in mere seconds.
Biometrics verification analysts tell about the Brisbane-based airport that has to run a trial involving face recognition systems: “Instead of going through several control rounds, passengers simply present their passport, boarding pass, and have to look at the nearby camera for the verification process. The same process is repeated many times before the passenger finally enters the plane.”
Financial institutions are choosing biometric verification to protect their customers as well as themselves from identity theft, account takeovers (ATO), credit card fraud and many other digital scams. According to recent news, facial recognition technology is rolling out at ATMs.
At Tokyo, Seven banks partnered with NEC, to replace existing ATMs with new ones that incorporate biometric verification technologies and QR code, reader. Seven Bank Ltd has developed Japan’s first ATM that uses facial recognition technology to identify users and does away with the need for cards.