Written by AimBrain
In a digital world, how well do you really know your customer?
Using biometrics to authenticate oneself is already taking over from passwords, and is set to become the default option as new smartphones feature biometric technology as standard. Financial services was the first market to embrace biometric authentication, but as use cases evolve and the consumer interacts more with devices than traditional channels, the benefits of ditching the password span a wide range of industries.
The triplet of drivers - regulatory change, the customer journey and increasing fraud - is a key reason that banks are now looking beyond the device to the cloud for biometric authentication. Technology means that processes like onboarding can now be done remotely but compliant to KYC and AML standards; voice, behavioural or facial authentication can take place across any channel against a server-side identity for a consistent experience that raises your brand perception; and biometrics can be layered together to 'step up' or 'step down' security based on transaction parameters - delivering the right amount of friction to safeguard against fraud and keep the customer delighted.
Given the growing awareness and appetite for biometrics, BIDaaS (Biometric Identity as-a-Service) will enable organisations to ensure that they are authenticating the individual, not the device.
In a new whitepaper, team AimBrain shares the key benefits of moving voice, facial and behavioural biometric authentication server-side, for a compliant, secure and smooth identity access management experience.