In recent years, biometric technologies—originally meant to increase mobile device security—have been progressively included into mobile devices. Biometrics has been increasingly important in boosting application identification for security with the rise of financial technology (FinTech), which uses mobile devices and applications as promotional platforms.
People are still worried about biometric privacy and trust, though. The world is changing as a result of how financial technology (FinTech) is being used in both personal and professional lives. People from all over the world may interact, play, and communicate because to fintech. Secure identification methods are predicted to improve with biometric technologies. Below is a list of the top four biometric technologies used in fintech.
Face Recognition:
A technology-based technique for identifying a human face is facial recognition. Using biometrics, a face recognition system maps facial traits from an image or video. It compares the data to a database of recognised faces to find a match. The most popular and natural kind of biometric identification is facial recognition, although it might result in problems like increased face roundness or other anomalies.
It is regularly coupled with other biometric technologies to increase security. In terms of market share, it is now ranked second. Face recognition combining two-dimensional (2D) and three-dimensional (3D) modes is possible with advanced technologies, but accurate face recognition necessitates routine biometric data updates. It can replace other widely utilised methods.
Iris Recognition:
The process of photographing a person’s iris using visible and near-infrared light is known as iris recognition, also known as iris scanning. It is a sort of biometric technology like fingerprinting and facial recognition. The highest level of individual uniqueness is provided by iris recognition because no two persons have the same irises.
It was formerly employed in access control systems. Iris recognition has been used more and more in mobile devices as camera pixel counts have increased and LED light assistance has improved, but it is still constrained by a number of factors. Additionally, wearing particular contacts will lessen your chances of success.
