GSMA - Identity & FinTech’s Post

At QOOBISS, we're always on the pulse of innovation, especially when it comes to enhancing user experience and security through eKYC solutions. The latest advancements in biometric technologies are setting new benchmarks for authenticity and efficiency in the industry. 🔍 From facial recognition to the latest technologies, we are revolutionizing the way we verify identities online, making processes faster, more reliable, and incredibly secure. They not only streamline user onboarding but also significantly reduce the risk of fraud, ensuring compliance with the highest regulatory standards. As we integrate these groundbreaking technologies into our services, QOOBISS is committed to delivering unparalleled security and convenience to our clients across the financial, eCommerce, and gambling sectors. Stay ahead of the curve with us as we continue to redefine digital identity verification for a safer, more connected world. #QOOBISS #BiometricTechnology #eKYC #DigitalIdentity #Innovation #TechTrends

Authenticating users is expensive. 💰💰💰 Here’s how Incognia made it 51% cheaper for one fintech company: The company was using facial biometrics to authenticate sensitive transactions. Leveraging this biometrics check created two problems: 1️⃣ It needlessly increased friction and frustration for good users, especially older ones.  2️⃣ It became incredibly expensive to make so many biometrics API calls Using Incognia’s solution, they were able to: - Reduce facial biometrics use by 45% - Slash authentication costs by 51% - See ZERO account takeovers for users that opted-in for location sharing Not every transaction needs your most expensive authentication factor. Using passive signals + step-up authentication = less costs, less friction to good users, and better outcomes.

Let’s talk mDLs and how they will change the identity landscape.

Payments technology is always improving. Advancements in this tech are not only transforming how we conduct transactions—they're also setting new standards for security and the user experience. One tech trend in payments that I think has been and will continue to be transformative is biometrics. Biometric authentication methods like fingerprint scanning, facial recognition, and voice recognition, are adding an extra layer of security to payment processes. These methods are nearly impossible to replicate, ensuring that only the authorized user can complete a transaction, all while providing a seamless and quick payment experience. As Mastercard, we leverage biometrics strategically by developing innovative products and solutions that create secure and seamless customer experiences for our partners. #MastercardEmployee #Biometrics #PaymentsTech #FrictionlessAuthentication

Imagine... If Transactions Could Be More Secure and Convenient? 👀🚀 👉The Biometric Revolution is here to answer that question.                                                                      🤔💳Mastercard pioneers password-free transactions with fingerprints, iris scans, and facial recognition. Weixin introduces touchless palm payments globally. Their collaboration promises secure, user-friendly authentication beyond passwords. A new era of frictionless payment is here 💳🚀 #BiometricRevolution #SecurePayments  #DigitalTransformation #Fintech

With biometric authentication (voice and face with liveness check) your password is stored in a distributed ledger network governed by leading organisations (away from centralized password storage solutions).

TRUST, not technology, is the issue of the decade. ⚖🙌 In an era where digital transformation is the norm and security concerns loom large, Electronic Identification (eID) technology is a beacon of trustworthiness. That in mind, lets talk about Ver.iD (an OWOW venture). As a result of the forthcoming EU regulation, citizens and businesses of EU member states will be provided with ID wallets. Ver.iD offers a standardized identity verification solution, simplifying the use of various digital wallet systems for businesses and consumers. Their motto - simplify onboarding; maximize conversion. 💸 Simple vocabulary to explain the dynamics of eID and digital wallets doesn't yet exist, as is the case with most revolutionary technology that's in it's infancy. But with the way the wind is blowing, Ver.iD is ahead of the curve - a seamlessly integratable solution when digital wallets inevitably become the norm. #DigitalIdentity #Interoperability #Innovation #VeriD #TechSolutions

🎉 Exciting News! 🎉 The Fortress Payments team is gearing up for an unforgettable experience at Transact2024, the premier Electronic Transactions Association conference in Las Vegas! We're thrilled to announce our significant presence at this year's event and invite you to join us for an engaging discussion on the future of payments. 🔮 Panel Discussion: "The Future of Payments is Biometrics: What About Privacy?" Mark your calendars for Thursday, April 18th, as our experts take the stage at the Idea Zone Stage to explore the evolving landscape of #biometric technology in #payments. Discover how biometrics are shaping the future of transactions and the critical considerations surrounding privacy in this dynamic space. 🤝 Booth 442: Meet the Team Don't miss the opportunity to connect with the Fortress Payments team at Booth 442! Whether you have questions about biometrics, want to learn more about our innovative solutions, or simply want to say hello, we're here to chat. Let's explore how Fortress Payments can support your payments needs and drive your business forward. 📅 Schedule a Meeting For those seeking more personalized discussions or deeper dives into our offerings, we welcome you to schedule a meeting with our team. Whether it's exploring partnership opportunities, discussing specific challenges, or exploring how biometrics can enhance your payment strategies, we're here to collaborate and find solutions together. https://lnkd.in/e5cVZGJF #Transact2024 promises to be an unforgettable event filled with insights, networking opportunities, and industry innovations. We can't wait to connect with you and share our passion for driving the future of payments forward. #Transact2024 #PaymentInnovation #IndustryEvents #KnowledgeSharing #BiometricPayments #VivaLasVegas Alessandro Chiarini Felix R. Torres-Ostolaza Menda Sims

In today's digital landscape, securing transactions is crucial. Biometrics, which analyses unique physical and behavioural traits like fingerprints, facial recognition, and voice, offers a robust solution. This technology enhances security and convenience in digital payments, replacing traditional passwords and PINs. The global biometrics market, valued at approximately USD 36.6 billion in 2020, is projected to reach USD 68.6 billion by 2025, growing at a CAGR of 13.4%. This growth underscores the increasing adoption of biometric authentication in digital payments, driven by the need for enhanced security and user experience. How can you learn more about Biometric based secured digital payments. 💻 Visit https://lnkd.in/gk_WZeJn 📩 If you want to schedule an offline/In person customized training for your company/College/NGO reach out to us at gfa@inclusivefintechhub.com 🔗 Schedule a meeting from this link https://lnkd.in/g8jwgDc3 Piyush Singh Swati Bhalla #globalfintechacademy #Inclusivefintechhub #fintech #buildandgrow #innovation #digitalinclusion #innovation #financialinclusion #BiometricPayment

Jumio’s AI-driven identity verification platform redefines how you establish and maintain trust online. Come see us at #PAY360 (stand 57) to learn more: https://bit.ly/48RVx8T