Biometrics for Banking Financial Services Market Booming Segments; Investors Seeking Growth |3M, AllTrust Networks, HID Global
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Scope of the Report of Biometrics for Banking Financial Services
Biometrics are automated methods of recognizing customers through their biological characteristics and traits such as fingerprints, iris, and voice recognition. Financial service biometrics refers to biometric systems used to aid in the flow of money. The rise in the use of biometrics in banking is helping to better secure customer transactions to prevent fraud. It helps to create a secure banking environment by establishing a concrete audit trail for transactions, reducing identity fraud and safeguarding financial data.
The titled segments and sub-section of the market are illuminated below:
by Type (Face Biometrics, Voice Biometrics, Fingerprint Biometrics, Iris Biometrics, Hand Vein Biometrics, Others), Application (On-site Banking (Branch Banking, ATMs, Points of Sale, and Call centers), Online Banking, Mobile Banking (Banking Apps, and Mobile Wallets), Others), End-User (Banks, Insurance Companies, Financial Service Organizations, Others), Sales Channel (Direct Channel, Distribution Channel), Component (Hardware, Software, Services), Service Type (Identification & Authentication, Payments & Transactions, Data and Network Security, Others)
Biometric Single Sign-on Solution for More Effective Password Management
Mobile Payments Drives Adoption of Biometrics Technology
The rapid digitization of banking services combined with the continued need to adopt stricter customer and employee identification protocols to prevent identity theft and fraud is driving the market growth.
Reduction in Transaction Times and Authentication Convenience, Improved Security
Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
Biometric Payment Cards Propelling Growth in the Biometrics Market in BFSI Sector
Alternative Way to Combat Money Laundering, Internet Transaction Fraud, And Identity Theft Related Crimes
Advent of Artificial Intelligence (AI) To Monitor Behavioural Anomalies and Prevent Security Threats with Much More Precision
Market Leaders and their expansionary development strategies:
On March 29, 2017, Mastercard has announced that it has entered into an agreement to acquire NuData Security, a global technology company that helps businesses prevent online and mobile fraud using session and biometric indicators.
On April 10, 2019, HID Global, a worldwide leader in trusted identity solutions, has announced that its new fingerprint reader that merges credential excellence with HID's globally-patented multispectral imaging technology to address this issue and fuel broad adoption of biometrics at the door.
European Union's revised Payments Services Directive requires two-factor authentication. Alongside a PIN, a biometric feature is likely to be the second. Europe's open banking framework requires so-called strong customer authentication for banks to share customer data with other providers, with biometrics one of the options.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Biometrics for Banking Financial Services Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Biometrics for Banking Financial Services market
Chapter 2: Exclusive Summary - the basic information of the Biometrics for Banking Financial Services Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Biometrics for Banking Financial Services
Chapter 4: Presenting the Biometrics for Banking Financial Services Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Biometrics for Banking Financial Services market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2027)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
finally, Biometrics for Banking Financial Services Market is a valuable source of guidance for individuals and companies.
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