As the demand for heightened security and seamless user experiences continues to grow across various sectors, advanced biometric technologies are poised to redefine the authentication and identity verification processes, according to GlobalData.
From ensuring secure financial transactions to enhancing border control and streamlining retail interactions, advanced biometrics’ ability to provide robust security while improving user experience marks a new era in sectors such as financial services, government & law enforcement, retail, automotive, healthcare, and consumer goods.
“Biometric technologies are transforming various sectors by uniquely identifying individuals through traits like fingerprints, voice, and facial patterns,” says Saurabh Daga, associate project manager of Disruptive Tech at GlobalData. “The integration of AI and machine learning has boosted their accuracy and ability to detect fraud, especially in finance and healthcare.
“As privacy regulations evolve, the providers and implementors of biometric technologies are also adapting upgraded secure and ethical data practices. This blend of innovation and security is positioning biometrics as a key ingredient in future technology solutions balancing user experience with individual rights.”
GlobalData’s “Advanced biometrics: emerging trends and technologies in authentication” report delves into over 60 real-life implementations of biometric technologies. The report categorises these implementations based on the end-use sectors and applications.
UK-based Lloyds Bank’s new digital ID app, developed in collaboration with UK-based digital identity startup Yoti, facilitates age and identity verification for accessing accounts and services via smartphones. This app, named Lloyds Bank Smart ID, leverages biometric and liveness detection technology offering a reusable digital identity solution that meets high security and compliance standards.
Walmart has incorporated selfie-based biometric verification checks – provided by the American identity solutions startup Persona – into its Spark delivery app. This strategic step is designed to mitigate instances of identity fraud where individuals exploit multiple identities to dominate the delivery job market.
Mercedes-Benz has collaborated with Mastercard to introduce an in-car biometric fuel payment system. This technology enables drivers to use their vehicle’s fingerprint sensor to conduct transactions seamlessly through the Mercedes Pay+ digital payment platform. This feature allows Mercedes-Benz customers to make secure digital payments at over 3 600 petrol stations across Germany.
“Advanced biometrics are likely to be a game-changer for a multitude of industries,” says Daga. “Their ability to enhance security, streamline processes, and offer personalised experiences is reshaping the way businesses and governments operate.
“By harnessing the power of advanced biometrics in combination with technologies such as AI, blockchain, and IoT, industries can unlock new levels of security and convenience – ultimately shaping a more secure and user-friendly future.”