Mobile ID World

Identification Revolution

Commerce

Commerce Financial services are the frontline for innovation in Mobile ID. Payments, banking, money transfer, and cryptocurrency all demand strong levels of trust and assurance, and with the ongoing digital transformation affecting the financial sector, the mobile channel is entrusted with identity verification and authentication. Bridging physical and digital spaces, Mobile ID enables identity-based transactions with the utmost level of security, convenience, and privacy – whether it’s through an online retailer, a challenger bank, or a brick-and-mortar store.

Mobile wallets like Apple Pay, Samsung Pay, and Google Pay helped normalize the concept of using new technologies like biometrics enabled smartphones to pay at point of sale. And while the payments use case was relatively low risk, it paved the way for further innovation in finance, helping spur the rollout of contactless payment terminals and novel form factors like wearables and next-gen smart cards. As the COVID-19 pandemic accelerates the existing trend toward a cashless economy, these mobile commerce solutions are bound to become even more mainstream, with reports predicting an increase in biometric payment card adoption.

Digital onboarding, an integral piece of the Mobile ID equation, has also become nearly synonymous with mobile banking. Enabling users to enroll in services remotely, digital onboarding leverages document reading and face-based authentication to verify an identity without the need for human inspection. This obviously enhances the user experience, allowing for easy account opening, but it is also proving to be a great equalizer, empowering financial inclusion initiatives around the globe.

And that’s not all: behavioral biometrics are thwarting sophisticated types of fraud, liveness detection is protecting cryptowallets, and connected cars are integrating secure payments options for drivers. Identity is inseparable from finance, and as one evolves so does the other.

Educational Papers on Commerce

Powering Trusted Identities with Biometrics [HID Global White Paper]

This white paper from secure identity solutions provider HID Global illustrates how biometric technology can be used to establish irrefutable identity and maintain trust. The paper explains the advantages of identity solutions based on “who you are, not what you know,” and makes a strong case not only for HID Global’s solutions, but for biometric authentication more broadly.

Trusted Identity: From Start to Finish [Jumio/FaceTec White Paper]

In this white paper, biometric onboarding and authentication specialists Jumio and FaceTec explain how properly deployed biometric platforms can greatly mitigate the negative effects of data breaches on businesses and their customers. The paper also delves into the critical importance of liveness detection as spoofing techniques grow ever more sophisticated.

Related News & Articles

Read on to meet the leading providers of Commerce solutions.

IDEMIA is the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment. Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.

Iris ID Systems Inc., formerly a division of LG Electronics USA known as LG IRIS, has been active in iris recognition research, development and production since 1997. Today U.S.-based Iris ID Systems is a global player in the iris recognition business. IrisAccess™ is the world’s leading deployed iris recognition platform, used in thousands of locations authenticating the identities of millions of people. More people look to IrisAccess for iris-based authentication than to all other iris recognition products combined. To find out more, visit www.irisid.com or www.lgiris.com

FacePhi is a global leader in Facial Recognition technology. With a strong concentration in the financial sector, our product is rapidly becoming a service used by banks all over the world. Our technology enhances the client experience effortlessly by simply using the camera on their smartphone to take a selfie; this then becomes their method of identification and interaction with the bank’s mobile application.

FaceTec provides the most secure and highest-rated Liveness Detection and 3D Face Matching biometric AI, enabling true secure password-less authentication from any device. FaceTec’s software is deployed via device SDKs and a server SDK to provide a complete authentication platform with the customers’ user data encrypted behind their own firewall. With a patented UI and developer tools that easily integrate into any app or web page, hundreds of organizations on six continents use FaceTec’s AI to authenticate millions of users and provide new account onboarding and ongoing access to banks, financial and government institutions, telecoms, ecommerce, insurance, and more.