Barlow Research Associates, a consulting firm specializing in the banking industry, has awarded BCSG, US Bank, Wells Fargo, and Xero with its 2016 Monarch Innovation Awards.
In a statement announcing the winners, Barlow Research Associates explained that they were chosen by a four-judge panel, and were assessed “based on uniqueness, stickiness, dependability, ease of use, value and their ‘wow’ factor.” BCSG was named Most Innovative Industry Partner for its digital engagement efforts with Deutsche Bank, while US Bank and Xero were recognized for mobile apps with the Most Innovative Product Award and Overall Most Innovative Award, respectively.
Meanwhile, Wells Fargo won Most Innovative Feature Award for its use of biometric authentication on its Commercial Electronic Office (CEO) app. The system allows users to log in via a face-and-voice recognition option, or via eye vein biometrics using EyeVerify’s Eyeprint ID technology. According to Barlow Research Associates, the authentication process can be done in less than 15 seconds, improving efficiency and ease-of-use for the CEO mobile app.
Wells Fargo has indicated interest in further expanding its use of biometric authentication, so there may be further accolades to come along the lines of its Monarch Innovation Award.