Eye Recognition Will Rival Fingerprint Sensors for the Future of Biometric Banking

In its latest biometric technologies market data report, ABI Research forecasts that fingerprint sensors in smartphones will surge to reach a 95% penetration rate of smartphone shipments by 2022.

According to the firm this will prompt new opportunities for biometric technologies, such as eye recognition, to be utilized as part of novel identification and payment applications for both the banking and governmental markets.

“While enterprise markets aggressively adopt vein recognition technologies in physical access control applications, eye recognition technologies will soon be one of the most secure modalities for consumer electronics authentication and secure mobile payments,” says Dimitrios Pavlakis, Industry Analyst at ABI Research.