29 September 2021
Biometrics has become an ever-present feature of everyday life, as millions of people worldwide use face verification to unlock their phones and use certain mobile apps and services. As more processes shift to digital, the creation of a secure digital identity is now a necessity when accessing online services.
Many organizations in the financial sector such as retail banks, investment banks, wealth management firms, payment providers, and cryptocurrency exchanges have to strike a balance between executing swift and accurate verification of new customers while delivering a positive user experience.
This guide takes a closer look at the benefits of biometric authentication, how biometrics helps to combat risk, and the practical applications of this tool in the financial sector.
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