Enacomm CEO Michael Boukadakis penned a new expert article for Banking.com’s recent focus on “mobile banking and banking security in a digital age.” Boukadakis’ Spotlight piece “Bet on Biometrics in the Digital Age” discusses the role of biometrics authentication in banking security. From the op-ed:
In the digital age, there is a new paradigm for banking. Most patrons expect to be able to handle their everyday needs, as well as major transactions, without setting foot in their local branch. To meet consumer expectations for on-the-go convenience, mobile banking capabilities must be expanded in conjunction with security measures.
Biometrics authentication is a critical component of mobile banking security. The technology is a win-win – for the financial industry, it offers enhanced security; for consumers, it delivers greater convenience. Organizations can adjust the technology to their desired levels of each (security and convenience), which are in an inverse relationship along a sliding scale.
Used by government intelligence agencies worldwide for decades, growth of biometric authentication in consumer banking has been made possible in recent years by the proliferation of smartphones with high-quality microphones and cameras. Thanks to advancements in technology, the process is easy for consumers; biometric authentication can be completed anytime, anywhere, in a matter of moments.
As explained by Boukadakis, voice biometrics, in particular, are highly reliable with a 99.99% success rate – even more dependable than touch identification through fingerprints. “Today, consumers can truly say Open Sesame’ to easily access their accounts and complete transactions using their mobile phones, no matter where they are,” he writes.
Go to Banking.com to read the full article to learn more about how financial organizations can match fingerprints, facial features, and voiceprints for authentication in mobile banking and benefit from the convenience offered by biometrics that goes hand-in-hand with the digital age. For more information on Enacomm Voice Authentication and Voice eSignature, click here.