PIN verification will soon become a thing of the past. Thanks to advances in fingerprint biometric technology, the reality of being able to authenticate a payment with a simple touch of the finger is set to explode across the globe. Whilst some countries remain conservative in terms of adopting this technology
It’s no secret that life as we once knew it has been transformed using technology with responsiveness playing a key role in keeping pace with digital transformation while prioritising security. For example, the introduction of biometric identification in the consumer ecosystem has been successfully accepted as ensuring superior security rapidly.
Security of customer data isn’t just a legal imperative for banks, it’s a competitive differentiator. In the age of connected devices, Open Banking and GDPR, the role security plays in driving business objectives cannot be underestimated.
Personal identification numbers (PINs) are everywhere. These numeric versions of the password have been at the heart of data security for decades, but time moves on and it is becoming evident that the PIN is no longer fit for purpose.