Samsung SDS, the IT services-focused Samsung subsidiary, has teamed up with Infosys Finacle to offer mobile banking and payment solutions to the latter’s clients.
Finacle is a financial services solutions provider from Infosys subsidiary EdgeVerve Systems. The firm offers digital banking solutions to its financial services clients across 84 countries, and given the financial services industry’s rising interest in mobile solutions, the Samsung SDS partnership makes a lot of sense.
The collaboration will see Samsung SDS’s FIDO Certified, device-agnostic solutions leveraged to facilitate low-friction customer authentication for client companies. In a statement announcing the partnership, the companies emphasized the importance of biometrics in mobile authentication, highlighting fingerprint scanning, facial recognition, voice recognition, and iris scanning as modalities that can smooth out the user experience with respect to authentication.
It’s an acknowledgment of a growing trend that has been pioneered by companies like Apple, which uses fingerprint authentication to verify transactions on its Apple Pay mPayment platform. Samsung Pay also uses fingerprint authentication, while China-based mPayment rival Alipay offers facial recognition for user authentication. As these platforms and other disruptors like PayPal push the financial services industry further into mobile services, more traditional financial institutions will want to stay competitive with this kind of authentication technology; and with the new Samsung SDS partnership, Infosys Finacle clients could get a leg up in this area.