Wells Fargo Delves Deeper Into Biometric Authentication

Wells Fargo Delves Deeper Into Biometric AuthenticationWells Fargo has launched redesigned treasury management apps as it continues to upgrade the technology of its mobile and web-based platforms, the company has announced. The updated apps are on its Commercial Electronic Office (CEO) portal.

The revamped apps precede more substantial upgrades to come – most notably, the introduction of biometric authentication for customers. Wells Fargo is planning to roll out a multimodal authentication system for its CEO Mobile app, based on face and voice biometrics, in 2016. In a statement, the company very accurately pointed to the emerging importance of biometric authentication, which EVP Danny Peltz said is “accelerating change in financial services.” The company is also looking into the potential of eye vein scanning, which it also plans to introduce next year.

Also of note are the company’s plans to develop a mobile “omni-channel commerce platform” for businesses. Wells Fargo says that this platform will be available for integration into client businesses’ own apps – “including mobile apps, websites, kiosks, and point-of-sale systems” – next year, and while further details are forthcoming, at the outset it sounds like something that could be operating in some shared market space with a number of other mobile commerce platforms such as Alipay.

In any case, as a member of the FIDO Alliance, Wells Fargo can be expected to adhere to high security standards in all of these technological endeavours as they roll out next year.