Financial services industry has been remarkably disrupted by innovative technologies and new business models to-date. Customers are demanding more customer-centric, digital solutions and expect banks to create solutions that not only solve the problem of security but also increase the level of customer satisfaction. The pace of innovation is rapid in financial services, especially in biometrics. Traditional banks and start-ups are gearing up for taking banking to the next level by making their biometric solutions advanced and efficient.
Some financial service companies are now offering real-time authentication for payment and money transfers through the mobile banking applications. These biometric solutions give opportunities to launch new products with easy authentication at a quick and wide pace. This study puts in perspective the existing trends for biometrics in financial services globally. The analysis will include the challenges for adopting biometrics, drivers for adoption with financial services. This study also provides an insight on all the biometric solutions that are in the market for financial services and their workflows.
The analysis will include current challenges for adoption, a well-defined biometric solution workflow, and impact of biometrics on banking. This report also covers the top drivers and restraints that determine the adoption of biometrics. This report has a pictorial representation of the companies providing biometric solutions to financial services.
Key Questions this Study will Answer
- What is biometrics?
- What are different ways to authenticate a payment?
- What are the different biometric solutions that are available in the market for financial services?
- Who provide these biometric solutions?
- How are biometrics used for increasing customer satisfaction?
- What are the challenges that impact the adoption of biometrics?
- What are the drivers for the adoption of biometrics?
- What are the top areas in banking that would get the best benefits from the adoption of biometrics?
- What is vein authentication?
- What is fingerprint scanning?
- What is eyeprinting?
- What is behavioural biometrics?
- What is voice recognition?
- How are biometric solutions being used in authentication?
- How are biometrics used in branch banking?
- How are biometrics used in KYC and customer onboarding?
- How are biometric solutions being used in POS?
- What are the different use cases for biometric solutions?
- How are financial services organizations using these solutions?
- What are the growth opportunities for financial services organizations by adopting biometric solutions?
- What are the steps that a financial organization must consider before implementing a biometric solution?
- How is eye scanning helping boost customer satisfaction and increased user experience in banking?
1. Executive Summary
- Key Findings
- Key Questions this Study will Answer
- Research Scope
- Biometrics Product Scope
2. Drivers and Restraints
- Market Drivers
- Drivers Explained
- Market Restraints
- Restraints Explained
3. Introduction to Biometrics
- Challenges for Customer Identification in Financial Services
- Biometrics - Building a Secure Financial Services Environment
- Fingerprint in Financial Services
- Use Cases - Fingerprint
- Facial Recognition in Financial Services
- Use Cases - Facial Recognition
- Voice Recognition in Financial Services
- Use Cases
- Eyeprint in Financial Services
- Use Cases - Eye Recognition
- Vein Recognition in Financial Services
- Use Cases - Vein Recognition
- Behavioral Biometrics in Financial Services
- Use Cases - Behavioral Biometrics
- Biometrics Deployment Timeline
4. Biometrics Providers for Financial Services
- Biometrics Providers
- Workflow - Fingerprint
- Workflow - Facial Recognition
- Workflow - Voice Recognition
- Workflow - Vein Recognition
- Workflow - Eye Recognition
5. Biometrics in Financial Services Trends
- Citibank - Recent Investments in Biometrics
- Wells Fargo - Recent Investments in Biometrics
- Lloyds - Recent Investments in Biometrics
- Santander - Recent Investments in Biometrics
- BBVA - Recent Investments in Biometrics
- FNB - Recent Investments in Biometrics
- DBS - Recent Investments in Biometrics
- IndusInd - Recent Investments in Biometrics
- Regional Trends for Biometrics in Financial Services
- Emerging Trends - Biometrics-Enabled Smartcards
- Biometrics-Enabled Credit/Debit Cards
- Biometrics in Financial Services - Revenue Forecast by Region
- Biometrics in Financial Services - Revenue Forecast by Technology
6. Growth Opportunities and Companies to Action
- Government Identity Cards
- Digital Customer Onboarding
- Asian Markets
- Strategic Imperatives for Success and Growth
7. The Last Word
- 3 Big Takeaways
- Legal Disclaimer