IdentityX, a Daon affiliate, has won NACUSO’s (National Association of Credit Union Service Organizations) Next Big Idea competition in Orlando. The company was recognized for its mobile biometric authentication platform.
The distinction was awarded based on an audience vote after the participating companies presented to the crowd and answered questions from a panel of judges that included Daymond Johns of the TV show Shark Tank. The audience was impressed by the company’s authentication solution, which uses multimodal biometrics. This same system is currently being used in USAA’s mobile app, which uses voice and face recognition, and that company gives it at least partial credit for their recent success with respect to fiscal results and customer satisfaction. A major strength of IdentityX’s platform is its future-proof nature, allowing it to adapt and support new biometric modalities as they emerge.
As more organizations – particularly those in the financial services sector – look to biometric security for their platforms, multimodal solutions like this one could prove increasingly popular. Security experts are beginning to sound warnings about the certain modalities’ susceptibility to spoofing, but multimodal solutions would seem to offer a powerful antidote to such concerns.