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Advanced Biometric Solutions Create a Secure Environment for Financial Transactions and Boost Customer Experience
14-Sep-2017
Global
Market Research
9AB3-00-03-00-00
IT03472-GL-MR_20742
Financial services industry has been remarkably disrupted by innovative technologies and new business models to-date. Customers are demanding more customer-centric, digital solutions and expect banks to create solutions that not only solve the problem of security but also increase the level of customer satisfaction. The pace of innovation is rapid in financial services, especially in biometrics. Traditional banks and start-ups are gearing up for taking banking to the next level by making their biometric solutions advanced and efficient. Some financial service companies are now offering real-time authentication for payment and money transfers through the mobile banking applications. These biometric solutions give opportunities to launch new products with easy authentication at a quick and wide pace. This study puts in perspective the existing trends for biometrics in financial services globally. The analysis will include the challenges for adopting biometrics, drivers for adoption with financial services. This study also provides an insight on all the biometric solutions that are in the market for financial services and their workflows.
The analysis will include current challenges for adoption, a well-defined biometric solution workflow, and impact of biometrics on banking. This report also covers the top drivers and restraints that determine the adoption of biometrics. This report has a pictorial representation of the companies providing biometric solutions to financial services.
Key Questions this Study will Answer
• What is biometrics?
• What are different ways to authenticate a payment?
• What are the different biometric solutions that are available in the market for financial services?
• Who provide these biometric solutions?
• How are biometrics used for increasing customer satisfaction?
• What are the challenges that impact the adoption of biometrics?
• What are the drivers for the adoption of biometrics?
• What are the top areas in banking that would get the best benefits from the adoption of biometrics?
• What is vein authentication?
• What is fingerprint scanning?
• What is eyeprinting?
• What is behavioural biometrics?
• What is voice recognition?
• How are biometric solutions being used in authentication?
• How are biometrics used in branch banking?
• How are biometrics used in KYC and customer onboarding?
• How are biometric solutions being used in POS?
• What are the different use cases for biometric solutions?
• How are financial services organizations using these solutions?
• What are the growth opportunities for financial services organizations by adopting biometric solutions?
• What are the steps that a financial organization must consider before implementing a biometric solution?
• How is eye scanning helping boost customer satisfaction and increased user experience in banking?
Key Findings
Definitions
Definitions (continued)
Key Questions this Study will Answer
Research Scope
Biometrics Product Scope
Market Drivers
Drivers Explained
Market Restraints
Restraints Explained
Introduction
Challenges for Customer Identification in Financial Services
Biometrics—Building a Secure Financial Services Environment
Fingerprint in Financial Services
Use Cases—Fingerprint
Facial Recognition in Financial Services
Use Cases—Facial Recognition
Voice Recognition in Financial Services
Use Cases
Eyeprint in Financial Services
Use Cases—Eye Recognition
Vein Recognition in Financial Services
Use Cases—Vein Recognition
Behavioral Biometrics in Financial Services
Use Cases—Behavioral Biometrics
Biometrics Deployment Timeline
Biometrics Providers
Workflow—Fingerprint
Workflow—Facial Recognition
Workflow—Voice Recognition
Workflow—Vein Recognition
Workflow—Eye Recognition
Citibank—Recent Investments in Biometrics
Wells Fargo—Recent Investments in Biometrics
Lloyds—Recent Investments in Biometrics
Santander—Recent Investments in Biometrics
BBVA—Recent Investments in Biometrics
FNB—Recent Investments in Biometrics
DBS—Recent Investments in Biometrics
IndusInd—Recent Investments in Biometrics
Regional Trends for Biometrics in Financial Services
Emerging Trends—Biometrics-Enabled Smartcards
Biometrics-Enabled Credit/Debit Cards
Biometrics in Financial Services—Revenue Forecast by Region
Biometrics in Financial Services—Revenue Forecast by Technology
Government Identity Cards
Digital Customer Onboarding
Asian Markets
Strategic Imperatives for Success and Growth
3 Big Takeaways
Legal Disclaimer
The Frost & Sullivan Story
Value Proposition: Future of Your Company & Career
Global Perspective
Industry Convergence
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Jean Noel Georges |
| Industries | Information Technology |
| WIP Number | 9AB3-00-03-00-00 |
| Is Prebook | No |
Biometrics in Financial Services, Forecast to 2022
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