Biometrics for Banking; Market and Technology Analysis, Adoption Strategies and Forecasts 2018-2023 - Second Edition

  • ID: 4582580
  • Report
  • 253 Pages
  • Goode Intelligence
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By the End of 2020, Some 1.9 Billion Bank Customers Will be Using Biometrics

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The second edition of Biometrics for Banking; Market & Technology Analysis, Adoption Strategies & Forecasts 2018-2023 is a 253 page analyst report that provides a detailed analysis of the market and adoption of biometrics for banking. The second edition of this report offers the most comprehensive investigation and analysis of current global adoption for biometrics across all aspects of banking. The market analysis includes the key drivers and barriers for adoption, interviews with leading stakeholders, technology analysis with a review of key biometric technologies and profiles of companies supplying biometric systems to banks plus forecasts (regional and global) for users and revenue within the six-year period 2018 to 2023.

The report is the first of three reports in a series investigating the market for biometrics in financial services. In addition to banking, the series will include payments and mobile reports.

Coverage:

The report identifies that by the end of 2020, some 1.9 billion bank customers will be using biometrics to:

  • Withdraw cash from ATMs
  • Prove their identity when contacting their bank via telephone (both actively and passively)
  • Prove identity for digital onboarding using their face
  • Access digital bank services through an increasing number of connected IoT devices including smart home devices and via connected car and smart city services
  • Authenticate into a mobile bank app using their biometric, either using an embedded sensor or through an app or SDK, and
  • Use a combination of biometric modalities (face and voice for instance) to initiate money transfers when accessing web-based eBanking services.

Biometric vendors are experiencing tremendous growth on the back of the escalation of consumer-led adoption of biometric authentication. The adoption for banking purposes is a major contributor to this growth and the researchers forecast that by 2023 it will contribute US$4.8 billion in revenue for companies involved in delivering biometric systems to the banking industry. Biometrics for banking is increasingly a vital part of a bank’s toolkit in the never-ending task of reducing financial fraud and ensuring that customers can conveniently prove their identity when accessing bank services - resulting in smarter identity verification and authentication for the customer-first bank.

This comprehensive report includes a review of current global adoption, market analysis including key drivers and barriers for adoption, interviews with leading stakeholders, technology analysis with review of key biometric technologies and profiles of companies supplying biometric systems to banks plus forecasts (regional and global) for users and revenue within the six-year period 2018 to 2023.

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FEATURED COMPANIES

  • Access Softek
  • BehavioSec
  • Encap Security
  • IEEE
  • NIST
  • SayPay
  • MORE

Forward

Author

Methodology

Regional Definitions

Executive Summary

ES1: Report Scope

ES2: Market and Technology Analysis

  • ES2.2: How is Biometrics used in Banking
  • ES2.2.1: How Can Banks Measure Biometric Technology? A Guide to Choosing the Right Biometric System
  • ES2.3: Market Drivers and Barriers
  • ES2.3.1: Market Drivers
  • ES2.3.2: Market Barriers
  • ES2.4: Banking Biometric Regulation and Technology Standards
  • ES2.4.1: Regulation
  • ES2.4.2: Industry Regulation / Guidelines
  • ES2.4.3: Technology Standards
  • ES2.5 Technology and Market Adoption
  • ES2.5.1: Market Adoption and Analysis
  • ES2.5.1.1: Biometrics for Banking
  • ES2.5.1.2: Biometrics in the Bank Branch
  • ES2.5.1.3: Biometrics for Electronic Banking (web-based)
  • ES2.5.1.4: Biometrics and Identity Verification - Proofing
  • ES2.5.1.5: Biometrics for Telephone Banking (Contact Centre)
  • ES2.5.1.6: Biometrics for Mobile Banking
  • ES2.5.1.7: Biometrics for ATMs
  • ES2.6: Biometric Technology - Analysis and Vendors
  • ES2.6.1: Behavioral Biometrics
  • ES2.6.1.1: Advantages and Disadvantages of Behavioral Biometrics
  • ES2.6.2: Eye Biometrics
  • ES 2.6.2.1 Iris
  • ES 2.6.2.1.1 Advantages and Disadvantages of Iris Biometrics
  • ES2.6.3: Face Biometrics
  • ES2.6.3.1 Advantages and Disadvantages of Face Biometrics
  • ES2.6.4: Fingerprint Biometrics
  • ES2.6.4.1 Advantages and Disadvantages of Fingerprint Biometrics
  • ES2.6.5: Heart (ECG)
  • ES2.6.5.1: Advantages and Disadvantages of Heart Biometrics
  • ES2.6.6: Voice Biometrics
  • ES2.6.6.1: Advantages and Disadvantages of Voice Biometrics
  • ES2.6.7: Finger-Vein Biometrics
  • ES2.6.7.1: Advantages and Disadvantages of Finger-Vein Biometrics
  • ES2.6.8: Palm-Vein Biometrics
  • ES2.6.8.1: Advantages and Disadvantages of Palm-Vein Biometrics
  • ES2.6.9: Palmprint Biometrics
  • ES2.6.9.1: Advantages and Disadvantages of Palmprint Biometrics

ES3: Forecasts

  • ES3.1 Methodology and Assumptions
  • ES3.2 Biometrics for Banking Forecasts
  • ES3.2.1 Introduction
  • ES3.2.2 Biometrics for Banking User Forecasts
  • ES3.2.2.1 Biometrics for Banking User Forecasts - By Technology
  • ES3.2.2.2 Biometrics for Banking User Forecasts - By Bank Channel (Service)
  • ES3.2.3 Biometrics for Banking Revenue Forecasts
  • ES3.2.3.1 Biometrics for Banking Revenue Forecasts - By Technology
  • ES4: Conclusion

Market and Technology Analysis

  • Introduction
  • How is Biometrics used in Banking
  • How Can Banks Measure Biometric Technology? A Guide to Choosing the Right Biometric System
  • Introduction
  • Biometric Performance
  • Usability
  • Security
  • Banking Regulation

Market Drivers and Barriers

Banking Biometric Regulation and Technology Standards

  • Introduction
  • Regulation
  • State and Federal Regulation
  • European Union (EU) General Data Protection Regulation (GDPR)
  • European Union Payment Services Directive (PSD2)
  • Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulation
  • Industry Regulation / Guidelines
  • USA FFIEC
  • Bank of Korea

Technology Standards

  • Introduction
  • ISO
  • ANSI
  • UK CESG
  • USA NIST
  • The FIDO Alliance

Technology and Market Adoption

  • Market Adoption and Analysis

Biometrics For Banking

Biometrics in the Bank Branch

  • Introduction
  • Biometrics Supporting the Digital Bank Branch - Self-Service Banking
  • Al Rajhi Bank of Saudi Arabia rolls out Biometric-Enabled Self-Service Solution

 Biometrics for Electronic Banking - Web-Based Banking

  • Introduction
  • Biometrics and Anti-Fraud Solutions
  • Biometrics and Identity Verification
  • Biometrics and Online Authentication
  • Barclays Supports Finger Vein Biometrics from Hitachi for eBanking
  • RSA’s Adaptive Authentication Risk-Based Authentication Solution leverages Mobile-Based Biometrics for Step-Up Authentication

Biometrics for Telephone Banking / Contact Centre - Featuring IoT Smart Speaker Banking

  • Introduction
  • Barclays Bank streamlines telephone banking service by adopting voice biometrics
  • IoT Banking In the Home - Daon Enables Secure Biometrics for Amazon’s Alexa

Biometrics for Mobile Banking - Featuring Wearables

  • Introduction
  • Wearable Devices
  • Apple Touch ID and Face ID - Allowing Banks to Support Mobile Biometrics
  • USAA Mobile Multi-Modal Biometrics Banking App - Results of Daon’s IdentityX Deployment

Biometrics for ATM

  • Introduction
  • Cash
  • Biometric Technology Integrated into ATM
  • Biometric Technology Integrated into Separate Technology for use at ATM
  • Biometric Technology Integrated into Bank Card
  • Bitcoin ATMs
  • Introduction
  • Biometric Technology - Analysis and Vendors
  • Introduction

Behavioral Biometrics

  • Introduction
  • Technology Vendors and Service Providers
  • BehavioSec
  • Biometric Signature ID
  • BioCatch
  • TypingDNA
  • Pricing
  • Advantages and Disadvantages of Behavioral Biometrics

Eye (Ocular) Biometrics

  • Introduction
  • Iris
  • Introduction
  • Technology Vendors and Service Providers
  • Eyelock
  • Fotonation / Smart Sensors
  • Fingerprint Cards - ActiveIris
  • Princeton Identity
  • Nok Nok Labs
  • Advantages and Disadvantages of Iris Biometrics

Face

  • Introduction
  • Technology Vendors and Service Providers
  • Applied Recognition
  • Identity Verification - Applied Recognition
  • KeyLemon
  • iProov
  • SmilePass
  • Daon
  • AimBrain
  • Advantages and Disadvantages of Face Biometrics

Fingerprint

  • Introduction
  • Technology Vendors and Service Providers -Fingerprint Sensor Manufacturers and Authentication Integrators
  • Fingerprint Cards
  • IDEX
  • HID Global Lumidigm
  • NEXT Biometrics
  • Sonavation
  • Qualcomm
  • Synaptics Biometrics Product Division
  • BIO-key
  • Zwipe
  • Advantages and Disadvantages of Fingerprint Biometrics (Sensors)

Camera-Based Fingerprint Biometrics - Touchless

  • Technology Vendors and Service Providers - Touchless Fingerprint Biometrics
  • Diamond Fortress Technologies
  • IDair
  • Veridium
  • Advantages and Disadvantages of Sensorless Fingerprint Biometrics

Heart - ECG

  • The Nymi Band
  • B-Secur
  • Advantages and Disadvantages of Heart Biometrics

Voice

  • Introduction
  • Technology Vendors and Service Providers
  • Nice
  • Nuance
  • VoiceVault
  • VoiceTrust
  • Advantages and Disadvantages of Voice Biometrics

Finger Vein

  • Introduction
  • Technology Vendors and Service Providers
  • Hitachi
  • Sthaler
  • Advantages and Disadvantages of Finger-Vein Biometrics Palm-Vein
  • Introduction
  • Fujitsu
  • Advantages and Disadvantages of Palm-Vein Biometrics Palmprint
  • Introduction
  • Redrock Biometrics
  • Advantages and Disadvantages of Palmprint Biometrics
  • Forecasts

Methodology and Assumptions

Biometrics for Banking Forecasts
Introduction
Biometrics for Banking User Forecasts
Biometrics for Banking User Forecasts - By technology
Biometrics for Banking User Forecasts - Fingerprint
Biometrics for Banking User Forecasts - Voice
Biometrics for Banking User Forecasts - Iris
Biometrics for Banking User Forecasts -Behavioral
Biometrics for Banking User Forecasts- Finger-Vein
Biometrics for Banking User Forecasts - Palm-Vein
Biometrics for Banking User Forecasts - Palmprint
Biometrics for Banking User Forecasts - Heart (ECG)
Biometrics for Banking User Forecasts - Face
Biometrics For Banking User Forecasts - By bank Channel (Service)
Biometrics for Banking User Forecasts - by Bank Channel: Branch
Biometrics for Banking User Forecasts - by Bank Channel: Electronic Banking (web-based)
Biometrics for Banking User Forecasts - by Bank Channel: Telephone (Contact Centre)
Biometrics for Banking User Forecasts - by Bank Channel: Mobile
Biometrics for Banking User Forecasts - by Bank Channel: IoT
Biometrics for Banking User Forecasts - by Bank Channel: ATM
Biometrics for Banking Device Forecasts - by Bank Channel: ATM
Biometrics for Banking User Forecasts - by technology: Biometric Identity Verification for Banking & FinTech - Biometric eIDV
Biometrics for Banking User Forecasts - by technology: Combined
Biometrics for Banking Revenue Forecasts
Assumptions on revenue forecasts
Biometrics for Banking Revenue Forecasts - by Technology: Fingerprint
Biometrics for Banking Revenue Forecasts - by Technology: Voice
Biometrics for Banking Revenue Forecasts - by Technology: Iris
Biometrics for Banking Revenue Forecasts - by Technology: Behavioral
Biometrics for Banking Revenue Forecasts - by Technology: Finger-Vein
Biometrics for Banking Revenue Forecasts - by Technology: Palm-Vein
Biometrics for Banking Revenue Forecasts - by Technology: Heart
Biometrics for Banking Revenue Forecasts - by Technology: Palmprint
Biometrics for Banking Revenue Forecasts - by Technology: Face
Biometrics for Banking Revenue Forecasts - by Technology: Combined
Biometrics for Banking Revenue Forecasts - by Application: Identity Verification (onboarding)

Appendices
Appendix A: Organisations referenced in this report

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  • Access Softek
  • AimBrain
  • Al Rajhi Bank
  • Ally Bank
  • Amazon
  • American Express
  • Apple
  • Applied Recognition
  • ARM
  • Atom Bank
  • Axis Bank
  • Aware Biometrics
  • Banco Bradesco
  • Banco Santander
  • Bank of Lanzhou
  • Bank Muscat
  • Bank of America
  • Bank of China
  • Bank of China Hong Kong
  • Bank of Korea
  • Banco Popular
  • Bankmobile
  • Barclays
  • BehavioSec
  • BioCatch
  • BIO-key
  • Biometrics Signature ID
  • B-Secur
  • British Bankers Association
  • Brightek
  • Cairo Amman Bank
  • Cardtech
  • CESG
  • Certibio
  • Cifas
  • China Construction Bank
  • City Bank of Texas
  • Cognitec
  • DAB Bank
  • Daon
  • DARPA
  • Deutsche Bank
  • Diamond Fortress
  • Diebold Nixdorf
  • Digital Insight
  • EarlyWarning
  • Encap Security
  • EPILEDS
  • EPISTAR
  • Epson
  • Ernst & Young
  • ECB
  • eyeLock
  • Face++
  • FFIEC
  • FCA
  • FFA
  • Fingerprint Cards
  • First Bitcoin Capital Corp.
  • Fotonation
  • Fujitsu
  • Garanti Bank
  • GBG IDScan
  • Gemalto
  • Getin Bank
  • HID Lumidigm
  • Hitachi
  • HYPR
  • Idair
  • IDEX
  • Idology
  • IEEE
  • InFocus
  • ING Bank
  • iProov
  • IrisGuard
  • Isbank
  • ITCARD
  • JP Morgan Chase
  • Jumio
  • KeyLemon
  • Lamassu,
  • Macau Monetary Policy
  • MasterCard
  • Microsoft
  • Mitek Systems
  • MoneyOnMobile
  • Monetise
  • Mountain America Credit Union
  • Morpho
  • M2SYS
  • Natwest Bank
  • NICE
  • NIST
  • NCR
  • NEXT Biometrics
  • Nok Nok Labs
  • Noris Bank
  • NTT DoCoMo
  • Nuance
  • Nymi
  • OCBC
  • OCC
  • OKI
  • Onfido
  • Pindrop
  • Planet Cash
  • Princeton Identity
  • Qualcomm
  • RBS
  • Redrock Biometrics
  • Royal Bank of Canada
  • Royal Oman Police
  • RSA Security
  • Samsung
  • Samsung SDS
  • SAMCO
  • SayPay
  • Smartmetric
  • SmilePass
  • St Georges Bank
  • Saque e Pague
  • Sonavation
  • Synaptics
  • Tangerine Bank
  • Tencent
  • The FIDO Alliance
  • The Natural Security Alliance
  • Trustonic
  • Turkiye IS Bankasi
  • TypingDNA
  • USAA
  • US Federal Reserve
  • Vasco/OneSpan
  • Verint
  • VISA
  • VoiceTrust
  • VoiceVault
  • Westpac
  • Wincor Nixdorf
  • ZTE
  • Zwipe.
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