Consumers call for biometric logins to financial services apps

IBM Future of Identity study: Millennials poised to disrupt authentication landscape — IBM — “Security was vastly ranked as the top priority for banking, investing, and budgeting apps — for these categories on average 70% selected security as the top priority, with 16% selecting privacy, and 14% selecting convenience… 44% ranked fingerprint biometrics as one of the most secure methods of authentication; passwords and PINs were seen as less secure (27% and 12% respectively).”


Radius Bank lets customers add location-based transaction restrictions

Radius Bank launches innovative card control app to give customers greater financial peace of mind — Radius Bank — “The Radius Card app provides a number of money management benefits, including: On/off switch allows customers to quickly turn off their debit card should it become misplaced and back on again once it has been recovered; Location-based restrictions prevent transactions outside a specific area determined by the user; Real-time alerts whenever the card is used or when a transaction has been attempted and declined; Spending caps and activity limits to help users budget expenses better.”



Apple details Apple Pay Cash in updated iOS Security guide

iOS Security — Apple — “When you set up Apple Pay Cash, the same information as when you add a credit or debit card may be shared with our partner bank Green Dot Bank and with Apple Payments Inc, a wholly owned subsidiary created to protect your privacy by storing and processing information separately from the rest of Apple and in a way that the rest of Apple doesn’t know.”


Bank Hapoalim to investigate potential of blockchain for user authentication

Bank Hapoalim, IAI team on blockchain for cybersecurity — Globes — “The joint research undertaken by the two companies will examine how blockchain, the technology at the basis of cryptocurrencies such as Bitcoin, could be used for developing innovative cybersecurity solutions, such as secure transmission of information between services and supply chains, user authentication, critical devices and elements that run with no human intervention and additional solutions for the cyber challenges in a hyper-connected world.”



US survey finds growing support for biometrics as a replacement for passwords and PINs

Visa survey reveals consumers are ready to say goodbye to passwords — Visa — “Seventy percent of respondents find biometrics easier than passwords and 61% consider it faster. Fewer than a third of consumers use unique passwords for each of their accounts. Fifty percent of consumers responded that the top benefit of using biometrics is eliminating the need to remember multiple passwords or PINs, followed by 46% who said that biometrics is more secure than passwords or PINs for verifying identity.”


Gemalto agrees to be acquired by Thales

Thales and Gemalto create a world leader in digital security — Gemalto — “Thales and Gemalto announce today that they have reached an agreement on a recommended all-cash offer for all issued and outstanding ordinary shares of Gemalto… The Gemalto board has decided to unanimously support the transaction and recommend that Gemalto’s shareholders accept the offer and vote in favour of the resolutions relating to the offer at the upcoming extraordinary general meeting.”





Samsung looks to palm recognition to secure mobile devices

Samsung’s new phones might literally read the palm of your hand — Futurism — “Recent patent filings by the South Korean electronics giant show that the company may be investing in yet another means of biometric scanning. Samsung’s palm recognition technology would join other biometrics, such as facial recognition and fingerprint scanning, along with standard passwords, pin numbers, and patterns as a means of securing your device.”


Millennials back biometrics and AI for payments

Millenials driving demand for AI and biometric security — Vocalink — “77% of millennials thought that new AI technologies such as virtual assistants and hands-free speakers like Amazon Echo and Google Home are appealing as payment devices. In addition, 28% of millennials have used fingerprint technologies to verify payments and 35% of the group now believes that fingerprint technology is the most secure method of verification followed by iris scanning at 22%.”



Wembley to let fans store contactless tickets in their Apple Wallet

Contactless ticketing at Wembley Stadium — Wembley Stadium — “The innovation offers fans a new way to seamlessly and securely enter live events with contactless tickets added to Apple Wallet on their iPhone or Apple Watch… The integration of contactless tickets in Apple Wallet will simplify customers’ experience while enhancing security and fostering more personalised engagement with fans. As well as entering the stadium with their contactless tickets, fans can use Apple Pay to buy food and beverages with their iPhone or Apple Watch.”


ABI: 160m cards with embedded fingerprint sensors to be shipped by 2022

Biometric payment cards to boost banking industry security — ABI Research — “Fingerprint embedded payment cards will enjoy an impressive growth over the next years reaching 160 million shipments by 2022 with a five-year CAGR standing at approximately 400%. While the Middle East, Africa and North America will be among the first regions geographically in which higher shipments are expected during 2018, forecasts indicate that Europe and Asia Pacific will have a larger penetration rate over the coming years.”


EMVCo releases online and in-app transaction security framework

EMVCo launches EMV secure remote commerce technical framework — EMVCo — “EMV SRC will address the complexities and potential vulnerabilities within the remote payments environment by defining a consistent approach to enable the secure transmission and interaction of payment card data among participants. This helps reduce exposure to data compromise and simplify merchant support of these solutions.”


Commbank adds Face ID to mobile banking app

The new face of banking — Commonwealth Bank of Australia — “From today, iPhone X users will be able to use Face ID to securely log in to the CommBank app. ‘Our customers use secure fingerprint logins on the CommBank app about 30m times a month,’ said Pete Steel, Commonwealth Bank executive general manager of digital. ‘Extending that functionality to Face ID is part of our ongoing work to provide a better banking experience to our customers through simple, easy and secure features.'”


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