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Biometrics for Banking and Financial Services: Global Market Analysis, Trends, and Forecasts

  • ID: 2785221
  • Report
  • Region: Global
  • 173 Pages
  • Global Industry Analysts, Inc
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FEATURED COMPANIES

  • AllTrust Networks (USA)
  • Cyber-SIGN, Inc. (Japan)
  • Gemalto N.V (Netherlands)
  • HID Global (USA)
  • IDEMIA (France)
  • Ingenico SA (France)
  • MORE
This report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research.

The report analyzes the worldwide markets for Biometrics for Banking and Financial Services in US$ Million.

Company profiles are primarily based on public domain information including company URLs. The report profiles 45 companies including many key and niche players such as:

AllTrust Networks
CashFlows Europe Limited
Cross Match Technologies, Inc.
Cyber-SIGN, Inc.
Fujitsu Frontech North America, Inc.
Gemalto N.V.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AllTrust Networks (USA)
  • Cyber-SIGN, Inc. (Japan)
  • Gemalto N.V (Netherlands)
  • HID Global (USA)
  • IDEMIA (France)
  • Ingenico SA (France)
  • MORE

1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study

2. INDUSTRY OVERVIEW
Financial Fraud: An Ever Present Threat for Banks and Financial Institutions
Major External & Internal Breaches in Financial Services Sector
Growing Instances of IT Security Breaches Gives Rise to the Need for Strong Security Solutions
Table 1: Number of Data Breaches and Stolen Identities Worldwide for the Years 2014, 2015 and 2016 (includes corresponding Graph/Chart)
Table 2: Type of Data Lost Worldwide Due to Data Breaches - Percentage Breakdown of Number of Data Losses for Personal Financial Information, Personal Health Information, Personally Identifiable Information and Others for 2016 (includes corresponding Graph/Chart)
Biometrics: Providing Security and Convenience for Financial Transactions
Financial Services Firms and Banks Actively Pursue Deployment of Biometrics Solutions
Uses of Biometrics Technology in Financial Services Sector
Table 3: Global Biometrics Market (2017): Percentage Breakdown of Revenues by End-Use Sector (includes corresponding Graph/Chart)
Table 4: Global Biometrics Market by Technology (2017): Percentage Breakdown of Revenues for Facial Scan, Fingerprint/Palm Recognition, Iris Scan, Vein Recognition, and Voice Recognition Technologies (includes corresponding Graph/Chart)
Current and Future Analysis
Asia-Pacific: Spearheading Adoption of Biometrics in Financial Services Sector
Fingerprint Scan Technology Leads, Vein Recognition Gains Traction

3. GROWTH DRIVERS, MARKET TRENDS & ISSUES
Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
Biometric Solutions Emerge as Alternatives to PINs at ATMs
Biometrics to Deal with Card-Not-Present (CNP) Fraud
Banks Focus on Mobile Devices for Convenient and Secure Authentication
Biometric Payment Cards: Propelling Growth in the Biometrics Market in BFSI Sector
Mobile Payments Drives Adoption of Biometrics Technology
Financial Services Industry Needs Collaboration to Leverage Mobile Biometrics
Banks Deploy Behavioral Biometrics for Digital Transformation of Banking Activities
Biometrics to Enable Banks to Improve Customer Engagement Levels
Financial Firms Deploying Biometric Technology for Enhancing Reputation
Fingerprint Biometrics: A Widely Used Technology
Table 5: Global Fingerprint Biometrics Market (2017): Percentage Breakdown of Revenues by End-Use Sector (includes corresponding Graph/Chart)
Silicon-based Fingerprint Sensors to Drive Gains in Non-AFIS Market
Voice Biometrics Adoption Continues to Grow in Financial Services Industry
Iris Biometrics Poised for Strong Growth
Facial Recognition Growing in Popularity
Banks: Active Adopters of Biometrics to Ensure Security and Improve Customer Experience
Identity Verification: A Major Growth Area for Biometrics Use in Banks
Increasing Need for ATMs Worldwide: Opportunity for Biometrics Technology
Table 6: Worldwide Installed Base of ATMs in Millions for the Years 2015, 2017, 2019, 2021 and 2023 (includes corresponding Graph/Chart)
Banks Pursue Biometrics-based Authentication at ATMs
Growing Prominence of Mobile Banking Spurs Opportunities for Biometrics
Biometrics-enabled Smartphones Transform Mobile Banking Services
Table 7: Global Penetration Rate (In %) of Fingerprint Sensor in Smartphones for Years 2014, 2016, 2018 and 2020 (includes corresponding Graph/Chart)
Table 8: Leading Players in the Global Fingerprint-enabled Smartphones Market (2017): Percentage Breakdown of Unit Shipments for Apple, Huawei, Samsung and Others (includes corresponding Graph/Chart)
Select Smartphone Models with Fingerprint Recognition Technology
Biometrics for Enterprise Mobile Banking Apps
Biometrics Enables Unbanked Adults to Access Banking Services
Expanding Social Network Footprint of Financial Organizations: Opportunities for Biometrics Technology
Multi-Modal Biometrics Approach to Gain Momentum
Innovations in Biometrics for Banking and Financial Services Sector - A Review
Biometric Fingerprint Reader from SmartMetric
Touché Unveils mPOS Tracker for Fingerprint Reader
Samsung Integrates 3D Sensing Software into Smartphone
Visa Rolls Out Pilot Projects for On-Card Biometric Capability in Contactless Payments
MasterCard to Launch Biometric Payment Card in the UK
Ingenico Unveils Biometric POS Terminal with Fingerprint Authentication Feature
Citi Employs Voice Recognition Technology
Combination of Statistical Analysis and Biometric Data in Financial Services
Biometric EMV Card with In-built Fingerprint Reader
Bank of Russia Launches Unified Biometrics System
A Brief Insight into Other Major Developments
Customer Acceptance: Not a Market Impediment
Access Control: A Potential Application Area

4. PRODUCT OVERVIEW
Biometrics: An Introduction
Major Biometric Modalities: An Overview
Face Biometrics
Voice Biometrics
Fingerprint Biometrics
Iris Biometrics
Hand Vein Biometrics
Comparison of Various Biometric Techniques
Summary of Biometric Recognition Techniques
Organizations/Standards Governing the Use of Biometrics
Biometric Consortium
International Biometrics Industry Association (IBIA)
Commercial Biometrics Developers’ Consortium (CBDC)
National Biometric Test Center (NBTC)
National Biometric Security Project (NBSP)
Biometrics Working Group (BWG)
International Association for Biometrics (iAfB)
International Biometric Foundation (IBF)
European Biometrics Forum (EBF)
Biometrics Security Consortium (BSC)
Nederlands Biometrie Forum (NBF)
Standards for Automated Fingerprint Identification Systems

5. COMPETITIVE LANDSCAPE

5.1 Focus on Select Players
AllTrust Networks (USA)
CashFlows Europe Limited (UK)
Cross Match Technologies, Inc. (USA)
Cyber-SIGN, Inc. (Japan)
Fujitsu Frontech North America, Inc. (USA)
Gemalto N.V (Netherlands)
HID Global (USA)
IDEMIA (France)
Ingenico SA (France)
Nuance Communications, Inc. (USA)
Precise Biometrics AB (Sweden)
Suprema (USA)
VoiceVault, Inc. (USA)

5.2 Product Innovations/Introductions
Aimbrain Introduces Biometrics Services for Challenger Banks and Fintech Startups
Crypto KABN Rolls Out ID KABN Biometric ID Validation Platform
Bank of Cyprus Rolls Out Innovative Biometric Payment Card
Indian Postal Service Unveils Digital Banking Platform
SensibleVision Launches AI Driven Face-Authentication Solution in India
FNB Launches TouchPoint Biometrics-enabled ATM
Citi China Launches China’s First Voice Biometrics Enabled Banking Technology
BofA Advances Cashpro® Mobile by Integrating Fingerprint, Facial Recognition and Embedded Token Biometrics
Societe Generale Launches Biometric Mobile Enrollment System for Bank Accounts Opening
Gemalto Unveils Gemalto Assurance Hub for Secure Online banking
Aeon Bank Introduces Biometrics Authentication System into ATMs and Teller Windows
Sumitomo to Develop New Biometric ID Verification Software
Diebold and Samsung Partner to Launch Cardless Biometric ATM
ICBC Integrates Fingerprint Identification Function into Mobile Banking Operations
HSBC Launches Facial Recognition Integrated Into Mobile Banking App
National Bank of Kuwait and Mastercard Launch Selfie Pay Service and Biometric Cards in Middle East

5.3 Recent Industry Activity
Facephi Signs Agreement with Bantotal for Integration of Facial Recognition into Bantotal’s Products
BehavioSec’s Behavioral Biometrics Fulfils PSD2 Requirements
Veriduim Garners US$16.5 Million T hrough Strategic Series B Funding
Aeon and Fujitsu to Launch Field Trials of Biometrics Authentication-based Cardless Payment System
IDEMIA and TIS to Develop Biometric Digital Identity Solutions for Mobile Devices
Eazy Financial and Benefit Enter into Strategic Partnership to Launch Biometric Payment Network
DNP Selects Gemalto’s Mobile Protector Solution for Mobile Banking Apps
Digi-Sign Collaborates with Daon to Implement FIDO Biometric Solutions for Hong Kong Bank
Bank of Cyprus Selects Gemalto for EMV biometric Dual Interface Payment Card Platform
Gemalto and Zwipe Collaborate with areeba for Piloting Biometric Payment Card in Middle East
Axis Bank Implements Iris Biometrics for Authentication of Aadhar-based Transactions
Tradelink and Daon Unveil Fingerprint and Facial Authentication Solutions for DSB
Sensory Enters Into Partnership with Fujitsu
Veridium Partners with Wala to Provide Biometrics-based Zero -Fee Financial Services
Visa Chooses Daon to Provide Biometric Authentication Services for Visa ID Intelligence Platform
OT-Morpho Renamed as IDEMIA
Kony and Daon Partners to Provide Biometrics-enabled Authentication in Digital Applications
BehavioSec Partners with Gemalto
EyeVerify Collaborates with Daon for Offering Eyeprint Biometrics Technology
Fujitsu and ImageWare to Expand Biometric Security Solutions Portfolio
Ceská sporitelna Chooses Nuance’s Voice Biometrics for Mobile Banking
3M Divests Identity Management Business to Gemalto
Eazy Financial Services Collaborates with NCR Corporation

6. GLOBAL MARKET PERSPECTIVE
Table 9: World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 10: World Historic Review for Biometrics for Banking and Financial Services by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
Table 11: World 14-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets for Years 2011, 2018 & 2024 (includes corresponding Graph/Chart)

7. REGIONAL MARKET PERSPECTIVE

7.1 The United States
A. Market Analysis
Market Overview
Demand for Biometric Security Continues to Grow in Banks
B. Market Analytics
Table 12: US Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 13: US Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

7.2 Canada
Market Analysis
Table 14: Canadian Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 15: Canadian Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

7.3 Japan
Market Analysis
Table 16: Japanese Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 17: Japanese Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

7.4 Europe
A. Market Analysis
Current and Future Analysis
Payment Services Directive (PSD2): Potential Growth Opportunities for Biometric Payment Cards
MasterCard Sets Deadline for EU Banks to Support Biometric Authentication
UK: Rising Popularity of Biometrics in Banking Operations
Russia Plans to Implement Country-Wide Biometric Database for Financial Services
B. Market Analytics
Table 18: European Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, UK and Rest of Europe Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 19: European Historic Review for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, UK and Rest of Europe Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
Table 20: European 14-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Revenues for France, Germany, UK and Rest of Europe Markets for Years 2011, 2018 & 2024 (includes corresponding Graph/Chart)

7.5 Asia-Pacific
A. Market Analysis
Current and Future Analysis
Australia
China
India
Biometrics in India’s Banking Sector
Indian Banks Mandated to Shift towards Aadhaar-Based Biometric Authentication
UIDAI: Ambitious Biometrics Project Presents Opportunities for Financial Services
Role of Biometrics in Financial Inclusion of Citizens
UIDAI Facilitates Cash Transfers
IPPB’s Payments Bank Space to Spur Demand for Biometric Solutions
B. Market Analytics
Table 21: Asia-Pacific Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 22: Asia-Pacific Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

7.6 Rest of World
A. Market Analysis
Current and Future Analysis
Latin American Financial Institutions Move towards Biometric Technology
Mexico: Biometric Security Mandate Drives Adoption of Biometrics Technology in Financial Services Industry
UAE: Customers Show Preference Biometrics in Banking Transactions
Africa: Biometrics Emerges as a Solution to Ensure Financial Inclusion
B. Market Analytics
Table 23: Rest of World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
Table 24: Rest of World Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

8. COMPANY PROFILES

Total Companies Profiled: 45 The United States (23)

  • Japan (2)
  • Europe (13)
    • France (2)
    • Germany (2)
    • The United Kingdom (3)
    • Italy (1)
    • Spain (1)
    • Rest of Europe (4)
  • Asia-Pacific (Excluding Japan) (6)
  • Middle East (1)
Note: Product cover images may vary from those shown
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  • AllTrust Networks (USA)
  • CashFlows Europe Limited (UK)
  • Cross Match Technologies, Inc. (USA)
  • Cyber-SIGN, Inc. (Japan)
  • Fujitsu Frontech North America, Inc. (USA)
  • Gemalto N.V (Netherlands)
  • HID Global (USA)
  • IDEMIA (France)
  • Ingenico SA (France)
  • Nuance Communications, Inc. (USA)
  • Precise Biometrics AB (Sweden)
  • Suprema (USA)
  • VoiceVault, Inc. (USA)
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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