Banking on biometrics: The future of customer authentication

The financial industry flourishes on security and safety. Yet that is precisely what passwords, PINs, and other knowledge-based authentication does not offer. They can easily be forgotten, stolen or hacked. Microsoft announced that a staggering amount of 44 million users are vulnerable to account take over attacks due to compromised passwords.

One of the basic weaknesses of the passwords is that people repeat or simplify passwords for their convenience which makes them easy to guess or hack. Data breaches result …

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