The Future of Digital Asset Protection

• Biometrics represents the future of identity verification online.  
• This verification can be done through facial, vocal, finger and retina recognition.

The Current Situation

• Up to 2017, only 13% of financial substitutions had adopted biometric security features.
• However, the majority of customers or 93% are favorable to this type of security feature.
• The main issue facing banks is to make this biometric verification process as smooth as possible, especially on mobile phones.
• Companies such as greenID Mobile, VIX Verify’s biometric and eKYC solution partner with banks to help them adopt biometric security.

Case Studies

• MUFG, a Japanese bank based in Tokyo, has launched a biometric authentification system for internet banking, to protect their customers' financial digital assets.
• Singapore is a good example of biometric adoption, with 61% of financial instiutions having adopted biometric authentification to protect digital assets, and China comes second with 57%.
• In the U.S., the adoption rate is only 37%. 
• In India, Axis bank has introduced iris authentification in 2018 for some transactions.
• In Spain, BBVA became the first local bank to introduce iris authentification in its mobile app.
•  TSB is a UK bank example that introduced this technology in 2017 to its clients.