If there is any doubt in which direction the technology world will head next, its being brushed aside by Amazon Web Services (AWS); voice is the natural progression. Telecoms.com (Banking Technology‘s sister publication) reports. Speaking at TechXLR8 in London, David Low, “principal evangelist” at Amazon Alexa EU, highlighted that the voice user interface will be […]
With increasing global smartphone penetration and a willing consumer base, financial institutions recognize the potential of biometrics to offer more convenience and security to their customers—but a lack of familiarity with the still-new technology among top banking brass remains a significant barrier to adoption, a new report from Mastercard and Oxford University found.
With its increase in innovation BBVA has created a Global Patent Office (GPO) to protect its intellectual property (IP) – particularly in biometrics and artificial intelligence (AI). The GPO will put the bank’s IP work in a single office and offer collaboration between departments, agents and training. Don Relyea, director of the BBVA global patent […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
A lack of understanding and trust in technology is stalling mainstream adoption of innovative new fintech services, according to HSBC’s research. The bank’s report, “Trust in Technology”, shows that technologies such as fingerprint recognition, voice recognition and robo-advice “hold enormous potential” for uses from bank security to mobile payments and investment advice. John Flint, global […]
Google has a new plan to become a bigger player in payments. The search engine and web marketing giant said that it’s enabling merchants and developers to “turbocharge checkout conversion” by making it easier for consumers to use the credit cards and debit cards stored with Google.
Even as security experts lobby for tighter authentication, a study demonstrates that passwords still command the loyalty of consumers. A payments expert discusses why biometrics and other methods lag behind the warhorse of digital protection.
Mastercard has launched its latest biometric card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases. South Africa is the first market to test the evolved technology, with two separate trails recently concluded with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. According to Mastercard, […]
Mastercard will acquire Vancouver-based biometrics firm NuData Security as it looks to make something out of the internet of things (IoT). NuData provides online and mobile anti-fraud solutions using session and biometric indicators. Mastercard will integrate NuData to its suite of fraud management and security products. Ajay Bhalla, president of enterprise risk and security for […]
Mastercard is beefing up its transaction security and authentication capabilities in the age of connected devices, entering an agreement to acquire NuData Security, a Pay Award-winning provider of anti-fraud technology that uses session and biometric indicators to verify online transactions.
Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new report. Mastercard’s fifth annual Digital Payments Study analyzed more than 3.5 million public interactions in 2016 between consumers on social media channels—including Facebook, Instagram and Twitter—to glean insight about consumer attitudes toward new payment technologies worldwide.
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
In-app payments are cannibalizing more traditional payments.
HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.
BNP Paribas Wealth Management has unveiled its new Client Experience venture co-created with customers and fintech firms. The initiative focuses on digital solutions as the bank is keen to “create a new wealth management experience”.
To kick off 2017, we asked industry leaders to tell us what happened in 2016 that will most affect their businesses and where they will be investing in 2017 and why.
Israel-based Bank Leumi’s credit card subsidiary, Leumi Card, will launch a “first-of-its-kind” integration of a mobile security product based on behavioural biometrics. Using Israeli start-up SecuredTouch’s solution embedded in the Leumi Card app, it will eliminate the need for passwords. SecuredTouch’s technology allows user identification based on a “unique” personal usage profile within the mobile […]
Dutch mobile-only challenger bank Bunq is using Veridium’s hand recognition software for its new app. The app will now use VeridiumID and its software, 4 Fingers TouchlessID. With their collaboration, Veridium and Bunq say this is a “world first” for “safe” mobile banking. Todd Shollenbarger, COO of Veridium, calls Bunq’s banking platform a “market disruptor”. […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! HSBC Private Bank live with Avaloq Banking Suite EXCLUSIVE. It’s on in Switzerland and Luxembourg. European Association for Biometrics conference Eyes down for our event review. New challenger bank to launch in UK Hampshire Community Bank wants a […]
There has been a huge amount of hype at this year’s Sibos about financial technology and its role in financial services. Devie Mohan* looks at the technologies that will help financial institutions cross the next frontier of innovation. The world of financial technology has seen a clear and significant shift in the past year – […]
UnifyID, a California-based fintech start-up, has brought to market its flagship identity and authentication platform. The proposition is “holistic implicit authentication”, i.e. it leverages the individual’s uniqueness to identify and authenticate the person by combining a number of biometric authentication features, analysing the patterns and utilising the machine learning technology.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Barclays and Wave pioneer blockchain trade finance transaction What is a fintech day without blockchain? UK challenger banks: who’s who The list has been updated. US credit union consortium plots blockchain use Watch out R3. Smile and an […]
HSBC business customers can now open accounts using “selfie” verification, giving them the option to complete ID security checks on their mobile device. It says ID verification can be completed in a “few clicks” on an Apple or Android device. Once the initial headshot or selfie of a customer is captured, it is then assessed […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! New core banking project for Temenos in Canada Exclusive. Credit union in British Columbia goes for T24. Swift slow on strong security say execs “Took their eye off the ball.” Volksbank pioneers NCR Innovation Experience Room An “experimental […]
According to new research from Visa, consumers across Europe are interested in using biometrics when making a payment – especially when integrated with other security measures. About 73% of the 14,000 European consumers surveyed see two-factor authentication, where a biometric is used in conjunction with a payment device, as a secure way to confirm an […]
Nationwide Building Society has launched a new mobile banking app – and users can now log on using Apple’s Touch ID biometric technology. Barnaby Davis, Nationwide’s divisional director group retail strategy, says: “As a mutual, Nationwide is owned by and run for the benefit of its members. This is why when designing our new mobile […]
A new stage of interactive banking is here. Santander recently announced a new app that will let consumers speak to their phone about their spending habits. Lloyds announced a video interview mortgage service, allowing customers to apply without setting foot in a branch. And HSBC released an app which replaces a pin number for voice biometrics. This […]
Infosys Finacle and software firm Onegini are partnering to integrate Onegini’s mobile security platform with Finacle banking solutions. Using this solution, Infosys says banks can offer customers an option to select “advanced” authentication methods, including fingerprint, facial, eye and voice recognition as well as multi-factor authentication for “added security” as they transact on devices. The […]
Biometric security in the financial services sector has finally reached the tipping point many have been anticipating since Apple launched its fingerprint recognition technology one whole iPhone generation ago. We recently saw the first of the major banks to announce that both fingerprint and voice recognition technology will be viable account login options for millions […]
Here’s a round-up of yesterday’s (6 April) panel discussions and today’s (7 April) sessions at Money 20/20 in Copenhagen. In “Biometric identity and its applications in financial services and payments”, on 6 April, it was a case of the panel moderator questioning the audience as the first step. When asked if they had biometric authentication […]
Four firms have joined forces to introduce the “first” end-to-end security architecture for biometric fingerprint authentication at Mobile World Congress 2016 in Barcelona. Gemalto, Fingerprint Cards, Precise Biometrics and STMicroelectronics say they are offering original equipment manufacturers (OEM) the opportunity to deploy this feature in the latest generation of wearable and consumer electronics devices. The […]
The sensors built into mobile devices offer a whole new way of identifying their users though biometric techniques, according to security expert Uri Rivner.
With governments, retailers, banks and (not least) consumers increasingly crying out for a means of confirming someone’s identity beyond any doubt, the search for a common, international standard of payment authentication is in full flow.
One of the trends of 2014 was its delivery of technology that we had been promised for years but had fallen short until now. Siri, Cortana and Google Now all make good on the sci-fi staple of the voice-activated computer. Virtual reality has been attempted many times, but it seems that the Oculus Rift may have finally cracked it. And biometric authentication, while often included in devices but rarely used, is now commonly used by owners of new iPhones to unlock their devices thanks to Touch ID.
Banks will be judged on how well they provide mobile services and social media interaction in the coming years. Instead of being just another channel, these forms will be the first point of contact for customers, according to a new report by analyst firm Celent.
Biometric identity verification mechanisms were prominent among the raft of new product announcements at the Money20/20 event in Las Vegas, which opened this week.
With passwords continuing to attract widespread derision from consumers it seems that businesses are starting to listen to their customers and in recent weeks voice biometrics has been hitting the headlines, as the technology is set to replace the bane of so many people’s lives.
On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]
US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.
