As the world moves into the digital era, enterprises must leverage digital identity verification solutions to combat the efforts of malicious actors to circumvent systemsand conduct illicit activities.
Knowledge-based authentication (KBA) such as passwords are no longer effective in keeping fraudulent individuals at bay. This is because passwords only grant access to an account but do not verify whether the one accessing it is the real account owner. In addition, most people employ weak password practices such as using a common password or using one password on multiple accounts. This enables cybercriminals to access different accounts easily after a successful phishing attack.
Replacing conventional authentication methods with biometric authentication can help enterprises shore up their defenses and ensure that the individual transacting with them is theactual account holder. In addition, bio-authentication enables platform users to authenticate into their accounts or complete a transaction seamlessly.
Biometric authentication compares an individual’s biology (metric), such as iris patterns, fingerprints, facial features, voice patterns, to a stored version of that metric. Advancements in science, encryption, and algorithms, and innovation in scanners and sensors made integrating biology-based scanners and sensors into smartphones and other electronic devices.
Bio authentication is becoming commonplace in the modern era. Accordingly, as biometric authentication technology is already secure andscanning sensors today support its full-scale integration, it will stay in the mainstream. Experts who study biometrics predict that biometric authentication will continue to revolutionize, enabling consumers to have more options in the future, such as digital signature authentication and heart-rate or voice detection.
But while the use of biology-based proof for identification purposes continues to grow and improve, the science behind the technology people presently know dates back to the 1960s when scientists first identified the physiological components of speech and sound. This influenced the development of voice recognition technology. Soon after, government agencies, such as the Federal Bureau of Investigations (FBI), invested in the research and innovation of other biometric technology.
In the early 2000s, biometric tech was rolled out for commercial use. Biometrics were used for visa applicants at ports of entry and exit to ensure proper travel facilitation for travelers while tightening security on offenders. And, eventually, by 2010, biometric technology was made available for public consumption.
If you want to learn more about the rich history of biometric technology and fraud prevention, read this infographic from LoginID.
