Welcome to the era of biometrics
Biometrics: A few decades ago, even the thought of having your retina scanned or fingerprints used outside the police department sounded like a science-fiction movie. But today, you can just blink at an ATM and withdraw the amount of cash you need.
Joke? No. In Jordan, people can walk up to a bank teller and get their eyes scanned instead of using the card. In Japan, ATMs authenticate someone’s identity by using the vein patterns in their finger. The Gulf Bank has also recently launched a new product which is the Middle East’s first facial recognition mobile banking app. Gulf Bank customers can access their personal accounts and any number of services by blinking their eyes at their smartphone camera (Blinking to Bank) to log into this new banking app.
The million-dollar question: what is biometrics?
No doubt that we have all heard or read about biometrics, but how many of individuals really understand what exactly biometric authentication is and which are the implications of using it? Apart from the fact that it is extremely convenient, of course. After all, we carry our biometrics with us every day, wherever we go, therefore, we do not have to worry about forgetting them.
When it comes to information technology, biometrics refers to authentication techniques which rely on an individual’s measurable physical characteristics that can be automatically checked. In other words, it is all about proving ‘who you are’ in order to authenticate yourself and gain access to applications, information or banking accounts. Currently, main biometric identification schemes include fingerprints, finger veins, face, DNA, palm veins, palm prints, hand geometry, iris, retina, voice and even odour or heartbeats.
Biometrics at a tipping point
Over the last couple of years, the good old “passwords” which were once at the forefront of security best practices have started to become obsolete and hard to manage. But, the internet and groundbreaking technology enhancements have enabled and facilitated the development of other reliable and easy to use verification and authentication measures.
Nowadays, companies and financial institutions alike are racing to become the first to develop or integrate disruptive biometric verification and authentication systems. Apple, for instance, has introduced biometrics to the general public back in September 2013 with the launch of the iPhone 5S and its fingerprint sensor. Touch ID allows users to unlock their device, make purchases in digital Apple stores and authenticate Apple Pay purchases by simply touching their screen. In 2015, Apple Pay has also arrived in the UK, where banks have already started to adopt the technology.
According to a report by Credence Research, the biometrics technology market will reach USD 34.5 billion by 2022. The study mentions that this significant growth will be a result of the increased adoption in both public as well as private sector. Governments around the world are already starting to use biometric technologies for access authorization, identification and verification, e-passport management and national border control projects.
How about the security concerns?
You know what they say, it’s not over ‘till…we’ve also discussed security issues.
When it comes to security, biometrics seems to be “the silver bullet”. The system works by measuring and analysing body characteristics that are unique to each individual. Therefore, if you’re you, you should be safe :) The vulnerability of duplication, unauthorized access, and risks associated with losing or having your password stolen are more reduced. Biometric technology is the most fail-safe way of authentication. At least, so far…